Half Year 2024 Adyen NV Earnings Call Transcript
Key Points
- Adyen NV (ADYYF) reported a strong 24% net revenue growth year-over-year in the first half of 2024.
- The company expanded its EBITDA margin from 43% to 46%, showcasing strong operating leverage.
- Adyen NV (ADYYF) achieved significant growth in key regions, with North America growing by 30% and EMEA by 25%.
- The company secured important licenses in India and Mexico, positioning itself well for long-term growth in these markets.
- Adyen NV (ADYYF) continues to diversify its customer base across various verticals, including Unified Commerce, Digital, and Platforms, enhancing its market presence.
- Adyen NV (ADYYF) expects net revenue growth to be lower in the second half of 2024 due to stronger comparables from the previous year.
- The company is experiencing competitive pricing pressures in the US market, which may impact its premium pricing strategy.
- Despite strong growth, the contribution from new growth areas like financial products remains relatively small compared to the main payments volume.
- Adyen NV (ADYYF) plans to hire more staff in the second half of the year, which could impact short-term margins.
- The company faces challenges in expanding its market share in Latin America, with growth lagging compared to other regions.
Good afternoon, everyone. And welcome to Adyen's H1 2024 earnings call. My name is Josh Masser, and I'm head of investor relations here at Adyen. I'm pleased to be joined today by our co-CEO, Ingo; and CFO Ethan.
For today's call we'll start with a short discussion on our business performance and financial highlights for the period before heading into a question and answer session. (Event Instructions)
Thank you. So thank you Ingo and Ethan for joining us this afternoon. Ethan maybe starting with you, how do you characterize this period in the context of our?
Yeah thanks Josh. H1 was a strong period of growth for us, a period where we were able to grow in line with the building blocks that we shared back at our investor day in November. We're especially proud that we were able to gain market share both with our existing customers as we expanded share of wallet and also with new wins ultimately leading to 24% net revenue growth year-over
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