Latest news with #EthanTandowsky
Reuters
2 days ago
- Business
- Reuters
Dutch payments firm Adyen trims forecast as US tariffs hurt customers
Aug 14 (Reuters) - Adyen ( opens new tab cut its annual revenue forecast on Thursday, citing U.S. tariffs hurting the growth of the Dutch payment company's customers. The Amsterdam-based firm's shares were down 9.2% by 1331 GMT, after falling as much as 20.5% earlier in the session. Adyen said the slight acceleration in net revenue growth it expected this year now appeared "unlikely." But it reaffirmed its midterm target of an annual net revenue percentage growth in the twenties, up to and including 2026. A broader client base and global reach has helped Adyen weather shifts in consumer spending better than peers like Worldline ( opens new tab and Nexi ( opens new tab. But that international exposure also leaves it vulnerable to currency volatility and trade tensions. "The part that we see going less well ... is what we call market volume growth, so the growth of our own customers," finance chief Ethan Tandowsky told Reuters, when asked about the impact of tariffs and the end of de minimis exemption. Earlier this year, President Donald Trump scrapped the "de minimis" duty exemption that allowed low-value commercial shipments to be sent to the U.S. without tariffs, hitting ecommerce platforms like eBay (EBAY.O), opens new tab, one of Adyen's biggest clients. "We expect earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to expand in 2025, albeit at a more moderate rate than in 2024," Adyen said. Adyen's half-year net revenue missed market expectations despite a 20% yearly rise, standing at 1.09 billion euros ($1.27 billion) against the 1.11 billion euros expected by 16 analysts polled by LSEG. Its half-year EBITDA also missed estimates, coming in at 543.7 million euros; analysts had forecast around 550.8 million euros on average. KBC Securities analysts called the semester "underwhelming" and said it may pressure the company's shares. ($1 = 0.8549 euros)
The Star
2 days ago
- Business
- The Star
Dutch payments firm Adyen trims forecast as US tariffs hurt customers
The Adyen logo is seen at the reception desk of the company's headquarters in Amsterdam, Netherlands August 24, 2018. Picture taken August 24, 2018. REUTERS/Eva Plevier/ File Photo (Reuters) -Adyen cut its annual revenue forecast on Thursday, citing U.S. tariffs hurting the growth of the Dutch payment company's customers. The Amsterdam-based firm's shares were down 9.2% by 1331 GMT, after falling as much as 20.5% earlier in the session. Adyen said the slight acceleration in net revenue growth it expected this year now appeared "unlikely." But it reaffirmed its midterm target of an annual net revenue percentage growth in the twenties, up to and including 2026. A broader client base and global reach has helped Adyen weather shifts in consumer spending better than peers like Worldline and Nexi. But that international exposure also leaves it vulnerable to currency volatility and trade tensions. "The part that we see going less well ... is what we call market volume growth, so the growth of our own customers," finance chief Ethan Tandowsky told Reuters, when asked about the impact of tariffs and the end of de minimis exemption. Earlier this year, President Donald Trump scrapped the "de minimis" duty exemption that allowed low-value commercial shipments to be sent to the U.S. without tariffs, hitting ecommerce platforms like eBay, one of Adyen's biggest clients. "We expect earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to expand in 2025, albeit at a more moderate rate than in 2024," Adyen said. Adyen's half-year net revenue missed market expectations despite a 20% yearly rise, standing at 1.09 billion euros ($1.27 billion) against the 1.11 billion euros expected by 16 analysts polled by LSEG. Its half-year EBITDA also missed estimates, coming in at 543.7 million euros; analysts had forecast around 550.8 million euros on average. KBC Securities analysts called the semester "underwhelming" and said it may pressure the company's shares. ($1 = 0.8549 euros) (Reporting by Mateusz Rabiega and Gianluca Lo Nostro in Gdansk; Editing by Janane Venkatraman, Nivedita Bhattacharjee and Sahal Muhammed)
Reuters
30-04-2025
- Business
- Reuters
Dutch payments firm Adyen's first-quarter sales miss forecasts amid trade uncertainty
April 30 (Reuters) - Adyen ( opens new tab, one of the world's largest payment companies, reported quarterly revenue below market expectations on Wednesday, showing the Dutch company was not immune to the impact of global trade tensions on economic activity and its clients. Its shares fell as much as 5.7% in early trade. Despite its global reach and track record navigating a challenging market environment, Adyen remains exposed to the risk of a global recession, analysts say. The Amsterdam-listed company has been relying on its U.S. clients, such as eBay (EBAY.O), opens new tab and Cash App to win more market share in the country, where its main competitors include fintech giants PayPal (PYPL.O), opens new tab and Fiserv (FI.N), opens new tab. "We see the opportunity in the U.S. the same as it was before," Adyen Chief Financial Officer Ethan Tandowsky told Reuters. He said that economic volatility might affect some of its clients, but this would not change Adyen's strategy or its outlook. "We're focused on what we can control: deepening relationships with existing customers and onboarding new ones." Adyen's first-quarter net revenue rose 22% to 534.7 million euros ($608.3 million), missing analysts' average estimate of 541 million euros, according to a Visible Alpha consensus provided by the company. Its processed volume, or the value of all transactions on its payment platform, totalled 318.8 billion euros in the quarter, below 336.1 billion euros expected by analysts. Still, the group maintained its forecast that 2026 net revenue growth will be in the low- to high-twenties percentage range, and core earnings (EBITDA) margin will top 50%. Adyen also confirmed its earlier 2025 forecast of higher revenue growth, albeit with a caveat. "If market volume growth slows, achieving the anticipated acceleration may prove more challenging," Tandowsky said in a statement. ($1 = 0.8790 euros)
