"We are proud to have delivered a strong year of growth further cementing our position as the trusted partner of choice for global businesses. Once again, expanding our relationships with existing customers was a key driver of our growth, reinforcing the vast opportunity that remains," said Ethan Tandowsky, CFO.
"Strengthening these partnerships contributed to net revenue growth reaching 22% for H2 and 23% for the full year, a true testament to the significant value we continue to provide.
As we continue to build Adyen for the long-term, we are pleased with our performance in 2024, and remain confident about delivering on our financial objectives in the years ahead."
H2 2024 key metrics
• Net revenue* was €1,082.7 million, up 22% year-on-year.
• Processed volume was €666.4 billion, up 22% year-on-year, 28% excluding a single large volume customer.
• Of these volumes, total point-of-sale volumes were €137.1 billion, up 48% year-on-year.
• EBITDA* was €569.2 million, up 35% year-on-year, with EBITDA margin* landing at 53%.
• Free cash flow conversion ratio* was 88%, with CapEx* at 5% of net revenue.
Full-year 2024 key metrics
• Net revenue* was €1,996.1 million, up 23% year-on-year.
• Processed volume was €1,285.9 billion, up 33% year-on-year, 27% excluding a single large volume customer.
• Of these volumes, point-of-sale volumes were €232.7 billion, up 46% for the full year.
• EBITDA* was €992.3 million, up 34% year-on-year, with EBITDA margin* landing at 50% for the full year, compared to 46% in 2023.
• Free cash flow conversion ratio* was 87%, with CapEx* at 5% of net revenue for the full year, compared to 4% in 2023.
This press release highlights key information and results from Adyen's H2 2024 earnings. You can find the full H2 2024 financial results and accompanying shareholder letter including our financial objectives here: https://investors.adyen.com/financials/h2-2024. Today, at 3 PM CET, we will host our H2 2024 Earnings call with our Co-CEO, Ingo Uytdehaage, and CFO, Ethan Tandowsky. A recording will be made available shortly thereafter on the same webpage.
* Refer to note 1.2 of the H2 2024 Interim Condensed Consolidated Financial Statements for further explanation on the non-IFRS measures reported by Adyen.
About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.
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