Report
Michael Roeg

Adyen - Preview H2-23

Adyen will release H2-23 results on 8 Feb. before opening of the marketThe focus will be on organic sales growth and EBITDA marginsWe roll our valuation model forward, we lower the WACC, and we lift our TP to EUR 1,100, Hold rating maintained
Underlying
Adyen NV

Adyen NV, formerly Adyen BV, is provider of mobile, online and point-of-sale (POS) payment solutions based in the Netherlands. It operates an online platform enabling merchants to accept payments internationally and from all sales channels, such as online shops, mobile payments from applications and Websites, and POS, such as countertops, mobile terminals, tablets and cash registers, among others. The platform covers the entire payment chain, including technical, contractual, reconciliation and settlement processes. The platform is available in the form of ready-to-use payment pages (HPP), application programming interface (API), and client-side encryption solution (EE). The Company's customers include Mango, KLM, Netflix, Superdry, Uber, Groupon and Crocs, among others. It has offices in the Netherlands, the United Kingdom, France, Germany, Belgium, Brazil, China, Australia, Mexico, Singapore, Spain, Sweden and the United States.

Provider
Degroof Petercam
Degroof Petercam

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Analysts
Michael Roeg

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