The title of Adyen lost nearly 39% on the Amsterdam Stock Exchange after the Dutch specialist in online payments announced a net profit in the first half below analysts’ expectations.
1 min
The action was worth at the close of the AEX 898.40 euros against 1,472 euros at the opening. According to Dutch media, this is the biggest drop in a stock on the Amsterdam Stock Exchange in more than 20 years, amounting to billions of euros in loss of market value (nearly 19 billion euros). euros, according to the Dutch news agency ANP).
Adyen noted a noticeable slowdown in North America and in digital revenue due to increased price competition, he pointed out. Based in Amsterdam, Adyen offers a payment platform connecting directly to Visa, Mastercard and other payment methods to large domestic and overseas customers.
The online payment service start-up had in 2018 almost doubled its value when it was listed (at a price of 240 euros) on the Amsterdam Stock Exchange. First-half net profit came to 739.1 million euros, up 21% year-on-year, but was below analysts’ expectations. The gross operating surplus (Ebitda) fell by 10% over one year, to 320.0 million euros, in particular because of the increase in wages, according to Ayden.
The fall in Adyen shares pulled the AEX index down (-2.54% at the close).
Also to listenAfrica economy – African start-ups in Rwanda: contagious optimism for the future of fintech in Africa (2/2)
(With AFP)