Transaction volume: 1.3 billion euros + 37% – HiPay continues its steady growth

Paris, 26 July 2018: HiPay (ISIN code FR0012821916 – HIPAY), the Fintech company specialising in omnichannel payment solutions, announces its results for the first half year of 2018.
Hipay results S1 2018

Grégoire Bourdin, the Managing Director of HiPay, commented on the results of the first half year: “The commercial momentum continued in the first half year, with a turnover of 13 million euros (+ 12%) for a volume transaction of 1.3 billion euros (+ 37%). HiPay has signed 597 new contracts, including 64 key accounts such as Speed Burger, Oscaro, Cash Converters and Delamaison. This steady growth of the customer portfolio demonstrates the strong interest in the solutions and services offered by HiPay, as well as the product’s suitability for the market.
The average volume operated per customer is also rising: HiPay is convincing more and more key accounts and now supports 18 companies listed in the Top 50 French e-commerce companies (source: ecommerce Mag). ”

Continued technological innovations

HiPay is now able to accept payments via Facilipay (payments in instalments through Oney, accessible throughout Europe) and Bancontact in QR code (Belgium). In addition, HiPay now offers the payment Mix, which makes it possible to settle a transaction through several different means of payment.

The omnichannel offer is also expanding, with HiPay’s API allowing the control of autonomous payment terminals. This new feature complements the panel of payment scenarios proposed to retailers, while adapting to their existing infrastructures.

These innovations allow sales teams to target more business sectors, by responding to the needs of prospective customers more specifically.

A healthy and solid financial position despite operating losses

HiPay continued to grow in all of its markets in the first half of 2018, with a 37% increase in volumes processed (compared to the first half of 2017) to 1.33 billion euros.

The turnover rate compared to the volume decreased to 1%, compared to 1.1% in 2017. This change reflects HiPay’s commercial success in the key accounts segment, which generates less turnover compared to volume than other customers. The turnover amounted to 13 million euros, compared to 11.6 million euros in the first half of 2017.

Direct costs, which account for variable transaction processing costs, amounted to 6.2 million euros. The growth of these costs (+ 16%) is less than the growth of the volume processed (+ 37%), which reflects the renegotiation efforts and procurement optimisation.

HiPay now has 159 employees in its 5 offices, compared to 128 one year ago. This growth in workforce allows HiPay to innovate with its products, provide its customers with exemplary levels of service and ensure the commercial development.

The overhead expenses were stable compared to the first half of 2017.

Current operating income for the first half of the year amounted to – 3.5 million euros, compared to – 2.1 million euros as of 30 June 2017.

At 30 June 2018, shareholders’ equity amounted to 46.7 million euros and cash to 4.4 million euros.

Next financial communication: 21 February 2019 – Turnover for the 2018 financial year