Half Year 2019 Adyen NV Earnings Call Transcript
Ladies and gentlemen, thank you for holding, and welcome to the Adyen Second Half 2019 Results Conference Call. (Operator Instructions)
I would now like to hand the conference over to Mr. Pieter van der Does, the CEO of Adyen. Go ahead, please.
Thank you, and good afternoon, everyone. Thank you for joining us on the earnings call for the second half of 2019. As always, I'll talk you through the high-level results and what we're seeing in the industry and then Ingo will take a deeper dive into the numbers. After this update, we'll be happy to answer any questions.
We continue to see strong profitable growth in the second half. Process volume for the full year was EUR 240 billion, as we continue to grow at scale. Full year net revenue was EUR 479 million, growing 42% year-on-year.
We saw a continuation of several positive trends in the second half of 2019. Our merchant portfolio is more diversified, over 80% of growth came from existing merchants,
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