Adyen: share soars on reassuring trading update

(CercleFinance.com) - Adyen shares soared on the Amsterdam Stock Exchange on Thursday, as investors were delighted by the better-than-expected quarterly figures published by the payment technology specialist.


With transaction volumes up 21% to E243.1bn, the group's Q3 net income rose by 22% to E413.6m.

These figures show that growth in transaction volumes and revenues has stabilised rather than deteriorated since August, one analyst said.

At its Investor Day yesterday, the Dutch "fintech" also unveiled much-anticipated medium-term targets, deemed "realistic" by the financial community.

The company expects to grow net sales by between 20% and 30% (excluding VAT) a year between now and 2026, with an EBITDA margin that should exceed 50%.

Adyen's share price had fallen sharply in August following the publication of half-yearly results weighed down by heavy investment and wage costs.

The stock jumped back, up over 32% on Thursday on the Amsterdam Stock Exchange, although is still down 29% YTD.


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