Paris, July 25, 2019: HiPay (ISIN code FR0012821916 – HIPAY), the French fintech company specialising in Omnichannel payment solutions, announces its results for the first half of 20191.
|In millions of euros||S1 2019||S1 2018||Var. %|
|Consolidated income statements|
|Transaction Volume||1 761||1 325||+33 %|
|In millions of euros||June 30 2019|
|Dec. 31 2018|
|Consolidated balance sheets|
|Shareholders’ equity||39.9||42.4||-6 %|
|Cash and cash equivalent||5.4||2.7||+102 %|
Commenting on the first half results, Grégoire Bourdin, Chief Executive Officer of HiPay, said: “HiPay is once again demonstrating the relevance of its offer and the talent of its teams by posting 33% transaction volume growth in the first half of 2019. The objective of controlling operating costs has been achieved: compared to the first half of 2018, the EBIT increased by 37%. The commercial dynamic is still as strong as ever and the market’s appetite for our offers continues unabated.
Business Strategy Success
- +568 merchants, including 91 major accounts.
- Many customers signed with complex technical needs, including the French Tennis Federation, for which HiPay managed the high traffic peaks during the sale of Rolland Garros 2019 tickets.
- Strong partnerships established on proximity payment systems, including the French leader in proximity payment maintenance services, AVEM.
- On-going sector diversification of HiPay’s customers with the launch of restaurant players such as Pizza Hut, tourism such as Club Med and press such as Le Figaro.
- Complete coverage of all payment channels and usages thanks to the launch of a solution for interactive kiosk (unattended payment terminals).
- Implementation of an easy solution to ensure merchants compliancy with the PSD2 regulation thanks to HiPay’s expertise in the transactional data management.
- Signing of an innovative partnership with VISA for the implementation of VISA Token Services: a tokenization solution that enhances payment security.
- New success for the technical partner management program with the integration of HiPay into the Orchestra platform (the leading software platform for the French travel market).
Continued Activity Growth
- Significant increase in transaction volumes managed with approximately 1.8 billion this half-year (+33% vs. H1 2018 and +16% vs. S2 2018) thanks to a continued strong commercial momentum.
- Sales increased by +29% to €16.8 million from €13.0 million in the first half of 2018, reflecting both the growth in sales volume and HiPay’s ability to correctly value its product. The commission rate remained around 0.95%.
Improving Operational Efficiency
- Gross margin up 28% vs. the first semester 2018 to €8.8 million.
- Thanks to a controlled recruitment policy, human resources costs appear to have increased by 7%, well below the margin growth.
- Operating and net income of the group, up sharply to – €2.3 million from – €3.7 million at June 30, 2018 and – €2.7 million from – €4.2 million at June 30, 2018, an improvement of 36% and 37% respectively, demonstrating HiPay’s ability to combine growth and control of its operating costs.
- With available cash of €5.4 million at 30 June 2019, HiPay can look forward to pursuing its commercial and technological strategy with confidence.
Next financial communication: February 20, 2020 – Announcement of 2019 revenue
HiPay is a global payment service provider. By harnessing the power of payment data, we participate in our merchants’ growth by giving them a 360-degree view of their activities.
More information on hipay.com.
The HiPay Group is listed on Compartment C of Euronext Paris (ISIN code: FR0012821916 – HIPAY mnemonic).