Adyen 2nd Half Net Profit Increases; Raises Margin Target
10 February 2021 - 6:20PM
Dow Jones News
By Adria Calatayud
Adyen NV said Wednesday that net profit for the second half of
2020 rose, helped by higher revenue and payments volumes, and
raised its long-term earnings-margin target.
The Dutch payments company said it made a net profit of 163.1
million euros ($197.7 million) compared with EUR128.4 million for
the same period a year earlier.
Earnings before interest, taxes, depreciation and amortization
for the second half rose 36% to EUR236.8 million, with a margin of
62%.
Total revenue for the period rose to EUR2.08 billion from
EUR1.51 billion, with net revenue up 28% at EUR379.4 million. Adyen
said it processed payments worth EUR174.5 billion in the second
half of 2020, up 29% on year.
Analysts had expected second-half Ebitda of EUR208 million on
net revenue of EUR370.8 million, according to consensus figures
provided by FactSet and based on estimates by 10 and 12 analysts,
respectively.
The company said it now aims to increase its Ebitda margin to
levels above 65% in the long term, from 55% previously, while
continuing to deliver net revenue growth rates between the mid-20s
and low-30s in the medium term.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 10, 2021 02:05 ET (07:05 GMT)
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