HiPay Group (ALHYP) H1 2024 earnings summary

Executive summary

• Achieved profitable growth in H1 2024, with net income reaching €5.0m compared to a loss of €0.7m in H1 2023.

• Payment volumes grew 1.3% year-over-year to €4.1bn, despite a challenging macroeconomic environment and stagnant household consumption.

• Turnover increased by 10.5% to €36.1m, outperforming payment volume growth due to favorable mix effects and strong performance in iGaming/Digital markets.

Financial highlights

• EBITDA rose 48% year-over-year to €5.5m, representing 15.1% of turnover.

• Current operating income more than doubled to €3.0m, or 8.3% of turnover.

• Gross margin improved by 3.9 points to 55% of turnover, totaling €19.8m.

• Net income reached €5.0m, a significant turnaround from a €0.7m loss in H1 2023.

Outlook and guidance

• Projected 2024 turnover growth of 6% to 9%, driven by continued trends and new customer launches.

• Operating and net profitability for 2024 expected to be at or above 2023 levels as a percentage of turnover.

• Non-recurring items from H1 2024 will not recur in the second half.