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 account1 | |||||||||||
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 sheet1 | |||||||||||
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 revenueIn the 1sthalf 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 ProfitabilityEBITDA 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 incomeNon-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 structureThe financial structure is strongly improving, with a healthy and sustainable debt. As of June 30th, 2025, cash and cash equivalents were up €11.5 million compared to June 30th, 2024 and down by €0.4 million compared to December 31st, 2024. Financial debt net of cash was down €9.7 million compared to June 30th2024 and down €6.0 million compared to December 31st, 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 forecastThe 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
emeynard@hipay.com
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 |