138 million commercial transactions via our platforms in 2024
Revenue growth: + 13.4%
Consistent operating performance with EBITDA at €10.8m and current EBIT at €6.2m
Stabilized financial structure
HiPay maintains significant growth (+13.4%) and notable operating profitability, with EBITDA at 14.5% of revenue and current operating income at 8.4% of revenue.
Reinforced financial structure with free cash flow excluding working capital of €11.2m, cash of €12.1m and new debts of €9.0m.
The forecasts are healthy and will be supported by growth investments.
PARIS, April 11, 2025--(BUSINESS WIRE)--Regulatory News:
HiPay (Paris:ALHYP), the fintech specializing in omnichannel payment solutions, announces its results for 2024.
In millions of euros (IFRS norms)
2024
2023
Var. (% or €m)
Consolidated Income Statement1
Payment volume
9,152.4
8,769.3
+ 4.4%
Revenue
74.2
65.5
+ 13.4 %
EBITDA
10.8
9.8
+ €1.0m
Recurring operating income
6.2
4.9
+ €1.3m
Net income
5.8
2.2
+ €3.6m
Consolidated Balance Sheet1
Shareholders’ equity
30.3
24.3
+ €6.0m
Available cash
12.1
0.9
+ €11.2m
Financial debt (IFRS 16 incl.)
31.4
23.8
+ €7.6m
___________________________________
1 The consolidated financial statements as of December 31, 2024, are currently being reviewed by external auditors. They were approved by the board of directors on April 10, 2025. The 2024 financial report and the auditors' report will be published on the company's website on April 30, 2025.
HiPay maintains strong annual growth at +13.4% and increases its margins.
In a continued growth momentum, HiPay has achieved a 4.4% increase in payment volumes and a 13.4% increase in revenue in 2024. The billing rate has improved (0.81% vs. 0.75%).
In France, HiPay’s market dynamic is strong, with 302 new contracts signed in the retail sector. The Digital/iGaming sectors continued to grow over the period. Revenue outside France rose by a substantial +20%, reflecting strong volume growth in Portugal, Italy and Germany.
By combining this growth with better control of acquisition costs, and due to product/customer mix effects, the Group reports a sharp rise in gross operating margin (+ €6.9m).
Operating profitability
Continued cost-containment efforts, though to a lesser extent than in 2023, enabled the Group to keep the increase in payroll and overheads (+€6.3m) below the increase in operating margin (+ €6.9m), generating EBITDA representing 14.5% of revenue and current operating income of 8.4% of revenue.
Non-current, financial and net income
Non-current operating income amounted to €1.3m (vs. an expense of €1.0m in 2023). The financial result improved (+ €0.6m) due to foreign exchange gains and interest on investments of €382K. Net income improved from €3.6m to €5.8m, representing 7.9% of revenue.
Financial structure
On December 31, 2024, cash was up by €11.2m and financial debt (including IFRS 16) was up by €7.6m. This is mainly due to cash generated by operations of €11.2m, a (non-recurring) increase in working capital of €2.9m, and financial debt flows of +€6.5m (including new loans of €9m).
Outlook
Hybrid shopping journeys, increasingly favored by consumers, are driving merchants to adopt unified commerce. After a last quarter marked by a third of new customers choosing omnichannel with HiPay, we anticipate sustained growth in this trend in 2025, both in our existing base and among our new customers.
At the same time, the quest for fluidity at checkout is accelerating the adoption of digital wallets. Their integration by our merchant is generating immediate results, with market share reaching 20% in the first few weeks, with significant effects expected in 2025.
Deferred or installment payment solutions (BNPL - Buy Now, Pay Later) are also continuing to grow, particularly in sectors where price is a barrier to purchase. Driven by growing demand, they are gradually establishing themselves as an essential conversion lever, and will continue to grow strongly in 2025.
Growth forecasts for 2025 are expected to be between 5 and 10%, taking into account the growth drivers mentioned above, but remaining cautious given the current wait-and-see attitude towards consumption growth in Europe.
In addition, the Group continues to work on structuring its technical and material organization, increasing its margins and, via new customers, preparing its future growth drivers.
Next financial communication: April 30, 2025 - Annual Financial Statements
About HiPay HiPay is a global payment service provider. By harnessing the power of payment data, we help our merchants grow by giving them a 360-degree view of their business.
HiPay Group is listed on Euronext Growth (ISIN code: FR0012821916 – ALHYP).
This press release does not constitute an offer to sell or the solicitation of an offer to buy any HiPay securities. For further information on HiPay Group, please visit our website hipay.com, Investors section. This press release may contain certain forward-looking statements. Although HiPay Group believes that these statements are based on reasonable assumptions as of the date of this press release, they are inherently subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. HiPay Group operates in a fast-moving industry in which new risk factors may emerge. HiPay Group assumes no obligation to update these forward-looking statements to reflect new information, events or circumstances.
Consolidated income (1)
In thousands of euros
31 dec. 2024
31 dec. 2023
Turnover
74,295
65,483
Direct costs
- 34,083
- 32,125
Staff costs
- 18,190
- 15,736
General costs
- 13,560
- 8,781
Other current operating income and expenses
2,301
971
EBITDA(2)
10,764
9,811
Allocation to and writebacks of amortization and provisions
- 4,563
- 4,959
Current operating income
6,201
4,852
Valuation of stock options and free shares
- 172
286
Other non-current expenses
1,257
- 968
Operating income
7,286
4,170
Other financial income and expenses
- 1,200
- 1,831
Pre-tax income
6,086
2,339
Tax
- 252
- 173
Net income
5,835
2,166
(1) - These financial statements are currently being audited by the company’s statutory auditors. The full consolidated financial statements will be published by 30 April 2025.
(2) - Current operating income before allocation to and writebacks of amortization and provisions.
Consolidated balance sheet (1)
ASSETS - in thousands of euros
31 dec. 2024
31 dec. 2023
Net goodwill
40,222
40,222
Net intangible assets
6,328
7,109
Net tangible fixed assets
2,709
4,866
Deferred tax assets
1,422
1,422
Other financial assets
974
1,080
Non-current assets
51,656
54,700
Clients and other receivables
2,136
2,223
Other current assets
130,680
132,076
Cash and cash equivalents
12,089
895
Current assets
144,905
135,194
TOTAL ASSETS
196,561
189,894
LIABILITIES - in thousands of euros
31 dec. 2024
31 dec. 2023
Share capital
19,844
19,844
Issue and acquisition premiums
50,156
50,156
Reserves and retained earnings
- 45,567
- 47,829
Consolidated income (Group share)
5,835
2,166
Equity
30,268
24,337
Long-term loans and financial liabilities
12,695
10,411
Non-current provisions
5,139
6,657
Non-current liabilities
17,834
17,069
Short-term financial liabilities and bank overdraft
18,713
13,407
Suppliers and other creditors
7,579
7,699
Other current liabilities
122,167
127,383
Current liabilities
148,459
148,489
TOTAL LIABILITIES
196,561
189,894
Consolidated cash flow statements (1)
In thousands of euros
31 dec. 2024
31 dec. 2023
Net income
5,835
2,166
Adjustments for:
Amortization of fixed assets
3,151
3,343
Amortization of IFRS 16 fixed assets
1,402
1,524
Other elements with no cash impact
0
0
Provisions for tax risks
- 1,546
402
Cost of IFRS 16 debt
189
256
Cost of debt
1,763
1,563
Gains and losses on disposal of securities
0
0
Gains and losses on disposal of fixed assets
0
0
Gains and losses on disposal of fixed assets - IFRS 16
- 3
- 34
Cost of share-based payments
172
- 286
Current and deferred tax expenses
252
173
Operating income before WCR variation and provisions
11,215
9,107
WCR variation
- 2,926
- 2,890
Cash flow from operational activities
8,289
6,217
Interest paid
- 218
- 190
Income tax paid
- 118
- 105
Net cash from operational activities
7,953
5,922
Acquisition of fixed assets, claims and liabilities
