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HiPay H1 2019: +33% Transaction Volume 1.8 billion euros

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 eurosS1 2019   S1 2018 Var. %
Consolidated income statements
Transaction Volume1 7611 325+33 %
Revenue16.813.0+29 %
 
In millions of eurosJune 30 2019

 

Dec. 31 2018
 (Pro forma)
 Var. %
Consolidated balance sheets
Shareholders’ equity39.942.4-6 %
Cash and cash equivalent5.42.7+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.

Offer Enhancement

  • 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

About HiPay
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).

Aneta Larkins

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