HiPay Group

Earnings Release • Jul 27, 2023

HiPay: revenue up 18.8% in H1 2023

• Strong payment volume growth in a challenging environment: +13.9%
• Strong revenue growth, outperforming volumes processed:+18.8%

July 27, 2023, at 8:00 am: HiPay, the fintech specializing in omni-channel payment solutions, announces its revenue for the first half of 2023.

In millions of euros	H1 2023	H1 2022	Var. %
Payment volume	4,093	3,594	+13.9%
Revenue[1]	32.6	27.5	+18.8%

[1] Non-audited financial data

Increase in payment volume and significant growth in revenue

In the first half of 2023, the volume of payments processed reached 4.1 billion euros, representing a 13.9% increase compared with H1 2022. The high inflation since the end of 2022, marked by the war in Ukraine and the sharp rise in raw material prices, has therefore not weighed on the first half of 2023, which saw a strong rebound.

The strong revenue growth in H1 2023 reflects the good momentum in payment volumes. This trend can be observed across all the company's market segments.

Good momentum in our traditional markets (retail France and Europe)

Overall, HiPay met its budget targets for recurring growth (set at 8%) during the half-year, driven by its existing customer base and, to a lesser extent, by new business development, while complementing this growth with non-recurring volume and price effects in certain specific markets.

HiPay's omnichannel positioning confirms its appeal in France (tier-2 retailers[2]), where growth is in line with the budget targets initially set. Flows outside France account for 44% of our processed volumes, driven by the iGaming dynamic mentioned above and our southern European markets.

Strong growth in DM & iGaming revenue

In addition, part of our growth is being driven by the niche markets of Direct Marketing and iGaming, which are clearly outperforming both last year and our budget targets, which explains the revenue growth outstripping the increase in volumes captured.

Outlook

Continued growth since the start of the year should enable us to remain on budget (around +8%) for the second half of the year, while retaining the benefits of the non-recurring growth acquired and the resulting positive impacts on profitability levels.

Next financial update: September 14, 2023 – Results for the first half of 2023.

About HiPay

HiPay is a global payment service provider. By harnessing the power of payment data, we help our merchants grow by providing them with a 360-degree view of their business.

More information on hipay.com HiPay Group is listed on Euronext Growth (ISIN code: FR0012821916 – ALHYP).

Eric Meynard (DGM) +33 (0)6 98 04 33 07 emeynard@hipay.com

This press release does not constitute an offer to sell or the solicitation of an offer to purchase HIPAY securities. If you wish to obtain more information on HiPay Group, we invite you to refer to our website at hipay.com, under Investors. This release may contain certain forward-looking statements. Although HiPay believes these statements are based on reasonable assumptions as of the date of this release, they are inherently subject to risks and uncertainties that may cause actual results to differ from those expressed or implied by these statements. HiPay Group operates in a highly-evolving 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.

[2] Annual payment volumes of 1 to 100 million euros