HiPay Group

 

  • Payment volumes grew significantly to 3.6 billion euros in the first semester of 2022: a 12% increase compared with S1 2021 and a 43% increase compared with S1 2020.
  • The fintech’s commercial activity remains dynamic, allowing it to gain market share.
  • Turnover1 reached 27.5 million euros for the period.

Paris, 15 September 2022: HiPay (ISIN FR0012821916 – ALHYP), the fintech specialising in omnichannel payment solutions, has announced its results for the first semester of 2022.

Strong payment flow growth

Payment volumes saw sustained growth at 12%, reaching 3.6 billion euros in the first semester of 2022.This performance can be put into perspective with:

  • A challenging comparison base: with the first semester 2021 affected by various lockdowns in Europe.
  • A particularly difficult and volatile macroeconomic and geopolitical context affecting consumer behaviour and business’s investment decisions.

This significant growth in the first semester despite these external factors attests to the robustness of the HiPay model, as well as its ability to expand.On the basis of its omnichannel payment offering, HiPay is gaining market share: 151 new key accounts have been added.The group is also accelerating its international development with 36% of its payments occurring outside France, taking its strong commercial dynamics to other markets.

Turnover evolution

Overall turnover has increased to 27.5 million euros (up 3% compared with S1 2021).This growth below that of payment volumes can be explained by a number of Belgian banks stopping certain Direct Banking payment methods. These volumes have transferred to other, less lucrative payment methods.Activity in France and elsewhere continues to grow strongly: turnovers have risen sharply from semester to semester, with increases of 25% and 27% per semester between 2019 and 2022 respectively (CAGR).At the group level, spending remains controlled: direct costs are increasing in proportion with flows and staff costs are progressing in a reasoned manner with the recruitment of new talent to consolidate the HiPay team.However, because the increase in turnover is not enough to cover the increase in these operational costs, the net result is -3.6 million euros.

Perspectives

During the first semester of 2022, HiPay obtained additional funding totalling 3.25 million euros, demonstrating the ongoing support of its financial partners.For the 2022 financial period, HiPay aims to experience single-figure growth. The group is also adjusting its overheads in order to account for the expected difficulties caused by the current morose macroeconomic situation.

Next financial disclosure:

27 October 2022 (before the marketing opening) – Turnover for Quarter 3 2022

——————-1 Unaudited data

——————-

About HiPayHiPay is a global payment services provider. Using the power of payment data, we help our sellers grow by giving them a 360° overview of their business.More information at hipay.com. You can also find us on LinkedIn.HiPay Group is listed on Euronext Growth (ISIN: FR0012821916 – ALHYP).

Contacts

PR Annie Hurley (CMO)+33 (0)6 81 16 07 52[email protected] 

Investor RelationsJérôme Daguet (CFO)+33 (0)7 86 53 93 93[email protected] 

This release does not constitute a sale offer or the solicitation of an offer to purchase HiPay securities. If you would like more information about HiPay Group, please visit the Investors section on our website hipay.com. This release may contain provisional declarations. Although HiPay Group believes that these declarations are based on hypotheses that are reasonable on the release’s publication date, they are by nature subject to risk and uncertainty that can lead to differences between the actual figures and those indicated or inferred in these declarations. HiPay Group operates in one of the most volatile sectors where new risk factors can emerge. HiPay Group does not have any obligation to update these provisional declarations based on new information, events or circumstances.

Consolidated income

Note: HiPay has changed how it presents its income statement. Operating costs now include general costs and non-transactional direct costs.

Consolidated balance sheet

Consolidated cash flow statements

Attachment

  • 20220915_H1 2022 Results Release_EN

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. TheTechOutlook.com takes no editorial responsibility for the same.