Adyen NV : High growth continuing in 1H21, profit growth faster than revenue growth
>Conclusion: Good growth of revenue, faster growth of profits - For 1H21, we expect an underlying net profit of € 156m (+59% yoy). For the TPV we see +38% growth to € 173bn in 1H21 driven by the continuing good e-commerce growth. With a revenue growth of +27% to € 388m it would have a net revenue/TPV ratio of 22.4bp in 1H21. Further, for 1H21 we expect the EBITDA to grow +35% to € 224m being a 57.5% EBITDA margin.Good TPV growth of +38% to € 173bn in 1...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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