Business
HiPay : Results S1 2025
HiPay : Results S1
About this update from Hipay Group Sa
Half-year 2025 results in line with the Company's business plan - Continued profitable growth - Strong operating cash generation - Acceleration of product investments Released of the improved version of Sentinel®, our anti-fraud module Confirmation of 2025 targets (6-9% growth) 5.7% growth in payment volumes. Revenue increased by +3.7%; excluding isolated items in the second quarter of 2024, underlying growth was +7%. EBITDA amounts to €3.5m, or 9.4% of turnover, and current operating income stands at €1.7m. Net income was €0.4 million, impacted by a €3.0 million change in non-recurring items compared to the first half of 2024, which benefited from strongly positive non-recurring items of €2.7 million. Operating cash flow amounted to +€2.8 million, benefiting in particular from a positive working capital requirement benefiting from the transformations undertaken. With the complete overhaul of its Sentinel fraud detection and enforcement engine, HiPay now offers three times faster rules processing, enhancing transaction security and efficiency, while ensuring a smooth and frictionless payment experience for its merchants. Paris, 17 September 2024, 8 a.m.: HiPay (ISIN code FR0012821916 - ALHYP), the fintech specialising in omnichannel payment solutions, has announced its results for the first half of 2024. in millions of euros (IFRS) H1 2025 H1 2024 Var. % Consolidated Profit & Loss account 1 Payment volume 4 615.8 4 368.8 +5.7% Turnover 1 37.4 36.1 +3.7% EBITDA 1 3.5 5.5 -€1.9m Current operating income 1 1.7 3.0 +131% Net income 1 0.4 5.0 +€5.7m Consolidated Balance sheet 1 Equity 37.6 29.4 +€8.2m Available cash 11.7 0.2 +€11.5m Financial creditors net of available cash 13.3 23.0 -€9.7m (1) The Company's Board of Directors met on 13 September 2024 under the chairmanship of Benjamin Jayet and approved the Group's half-year consolidated financial results. These financial statements are currently being audited, subject to a limited review by the company's statutory auditors. The consolidated half-year financial statements will be published before 30 September 2025. Growth in payment volume and revenue In the 1 st half of 2025, the volume of payments processed reached €4.6 billion, an increase of 5.7% compared to last year. All business units contributed to the growth. Revenue growth (+3.7%) was impacted by a high basis of comparison in 2024 due to isolated items in the second quarter of 2024; restated for these items, the increase in underlying revenue was +7%. Significant growth in the Retail France and iGaming/Digital business units are particularly noteworthy. Operating Profitability EBITDA was €3.5 million, or 9.4% of revenue, and current operating income was €1.7 million. The current operating margin was down 3.7%, restated for isolated items in the second quarter of 2024, it showed a slight decline of 0.5%, the company benefiting from the continued positive effect of the in-depth transformation actions underway for 2 years. The wage bill and overheads increased by +3.5%. Non-current, financial and net income Non-recurring operating expenses amounted to €0.3 million (vs. exceptional income of €2.7 million in the first half of 2024). Financial incomes decreased (-€0.3 million) due to the non-renewal of foreign exchange gains. Net income was down by €5.0 million to €0.4 million, representing 1.0% of sales. Financial structure The financial structure is strongly improving, with a healthy and sustainable debt. As of June 30 th , 2025, cash and cash equivalents were up €11.5 million compared to June 30 th , 2024 and down by €0.4 million compared to December 31 st , 2024. Financial debt net of cash was down €9.7 million compared to June 30 th 2024 and down €6.0 million compared to December 31 st , 2024. Over the half-year, this was mainly due to cash generated by operations of +€2.4 million, an investment flow (Capex) of -€2.1 million, financial debt flows of -€4.8 million (including new medium/long-term borrowings of €0.6 million) and cash flows of +€4.0 million from the capital increase carried out in January 2025. Outlook and forecast The group anticipates a significant sequential acceleration in its business in the second half of 2025, thanks in particular to the ramp-up of new customers, the launch of new products and increased volumes of the end of the year. The Group's sales projections for fiscal 2024 indicate growth of between 6% and 9% while remaining on its profitability known levels. Next financial communication: 4 November 2025 (before market opening) - Revenue for the 3rd quarter of 2025 and 2026 financial calendar About HiPay HiPay is a global payment service provider. By harnessing the power of payment data, we help our merchants grow by giving them a 360-degree view of their business. More information on hipay.com HiPay Group is listed on Euronext Growth (ISIN code: FR0012821916 - ALHYP). Investors relations Eric Meynard (DGM) +33 (0)6 98 04 33 07 [email protected] This press release does not constitute an offer to sell or the solicitation of an offer to purchase HIPAY securities. If you wish to obtain more information on HiPay Group, we invite you to refer to our website at hipay.com, under Investors. This release may contain certain forward-looking statements. Although HiPay believes these statements are based on reasonable assumptions as of the date of this release, they are inherently subject to risks and uncertainties that may cause actual results to differ from those expressed or implied by these statements. HiPay Group operates in a highly-evolving industry in which new risk factors may emerge. HiPay Group assumes no obligation to update these forward-looking statements to reflect new information, events or circumstances. Consolidated income (1) in thousands of euros 30 June 2024 30 June 2023 Turnover 36,052 32,640 Direct costs - 16,212 - 15,948 Staff costs - 9,248 - 8,241 General costs - 6,204 - 4,575 Other current operating income and expenses 1,062 - 188 EBITDA (2) 5,450 3,688 Allocation to and writebacks of amortization and provisions - 2,471 - 2,400 Current operating income 2,979 1,288 Valuation of stock options and free shares - 85 373 Other non-current expenses 2,749 - 1,378 Operating income 5,643 283 Other financial income and expenses - 558 - 882 Pre-tax income 5,085 - 599 Tax - 63 - 102 Net income 5,022 - 702 (1) - These financial statements are currently being audited and are subject to a limited review by the company's statutory auditors. The full consolidated half-year financial statements will be published before 30 September 2024. (2) - Current operating income before allocation to and writebacks of amortization and provisions Consolidated balance sheet (1) ASSETS - in thousands of euros 30 June 2024 31 Dec. 2023 30 June 2023 Net goodwill 40,222 40,222 40,222 Net intangible assets 6,825 7,109 7,529 Net tangible fixed assets 4,496 4,866 5,422 Deferred tax assets 1,422 1,422 1,424 Other financial assets 1,106 1,080 1,058 Non-current assets 54,072 54,700 55,656 Clients and other receivables 1,779 2,223 2,191 Other current assets 119,781 132,076 116,253 Cash and cash equivalents 182 895 2,020 Current assets 121,742 134,194 120,464 TOTAL ASSETS 175,814 189,894 176,119 LIABILITIES - in thousands of euros 30 June 2024 31 Dec. 2023 30 June 2023 Share capital 19,844 19,844 19,844 Issue and acquisition premiums 50,156 50,156 50,156 Reserves and retained earnings - 45,602 - 47,829 - 47,941 Consolidated income (Group share) 5,022 2,166 - 702 Equity 29,420 24,337 21,357 Long-term loans and financial liabilities 8,543 10,411 12,092 Non-current provisions 3,835 6,657 6,859 Non-current liabilities 12,378 17,069 19,151 Short-term financial liabilities and bank overdraft 14,648 13,407 14,085 Suppliers and other creditors 7,561 7,699 8,621 Other current liabilities 111,807 127,383 113,105 Current liabilities 134,016 148,489 135,811 TOTAL LIABILITIES 175,814 189,894 176,119