By Alessandro Parodi
(Reuters) -Adyen’s shares rose as much as 14% on Thursday after the Dutch payments company reported full-year core earnings above market expectations, and forecast a slight acceleration in annual net revenue growth and continued margin expansion in 2025.
The Amsterdam-listed shares were the top gainers on the pan-European STOXX index at around 0900 GMT. Two traders cited the strong set of results and revenue forecast as drivers for the share price surge.
They reached their highest level since August 2022, adding 6.7 billion euros ($6.98 billion) to the company’s market cap, based on LSEG data.
Adyen has weathered a post-pandemic drop in online spending that has knocked investor confidence in the digital payments sector thanks to a more diversified customer base and partnerships with clients like eBay and Cash App in North America. The online spending downturn hit the market value of rivals Worldline and Nexi.
Their shares were up 3.5% and 2.7% respectively following Adyen’s results.
Broker Stifel said the EBITDA estimates might be conservative, and described the results as a “solid print” thanks to volume growth acceleration across the board on an underlying basis.
Adyen’s annual earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 34% to 992.3 million euros, compared with the 974.7 million euros expected on average by 29 analysts polled by LSEG.
This was supported by strong net revenue growth, particularly in the EMEA region, and digital partnerships with customers including Adobe, it said.
The Photoshop-maker “continues to globally expand across our payment solutions, and has in turn grown our share of wallet as one of their primary payment providers in North America and beyond,” Adyen said.
Net revenue rose 23% to 2.0 billion euros in the year to end-December, meeting analyst expectations, as processed payment volumes rose 33% to 1.29 trillion euros.
It confirmed its 2026 guidance for annual net revenue growth in the low- to high-twenties percent, and an improvement in EBITDA margin to above 50% in 2026.
($1 = 0.9596 euros)
(Reporting by Alessandro Parodi in Gdansk, editing by Kim Coghill, Kirsten Donovan and Jane Merriman)
