Pursuit of
the growth
and the investments
Paris, March
15th, 2018, 7:45
am: HiPay (code ISIN FR0012821916 - HIPAY), the fintech company
specialized in payments, announces its 2017 results.
In million
euros |
2017[1] |
2016
proforma[2] |
Var. % |
Consolidated Income
Statements |
Annual Flow |
2,193 |
1,470 |
+50% |
Revenue |
24.5 |
19.2 |
+28% |
Current Operating Income |
-4.5 |
-3.3 |
-36% |
Net Income from The Consolidated Companies |
-4.5 |
-4.6 |
-2% |
Consolidated Balance Sheets |
Shareholders' Equity |
51.2 |
55.1 |
-7% |
Net Cash |
6.8 |
8.8 |
-23% |
Commenting on the 2017 results,
Grégoire Bourdin, CEO of HiPay, said: "HiPay
successfully completed its transformation as a pure player
specialist in payment technologies. The sale of the micropayment
activity in mid-year allowed us to fully dedicate our energy and
our means to this great activity. We have seen a strong increase of
the flow and the revenue, especially thanks to the integration of
important brands in France and abroad. 2017 also has been marked by
several product innovations such as the use of artificial
intelligence in our anti-fraud solution to improve its
performances. The objective for 2018 is to accelerate the growth of
our flow while maintaining investments in R&D to keep offering
innovative solutions to our clients, fitted to their
needs."
Sustained growth
of the flow and the revenue
The good clients' acquisition
strategy has been pursued in 2017 to reach a revenue of 24.5
million euros (+28%), for a processed flow of 2.2 billion euros
(+50%).
Around a hundred new merchants
have chosen HiPay for the development of their activity in France
and in Europe, like Rossignol, Oscaro, Déco.fr (M6 Group),
Bouchara, Pixmania, Figaret, Metro Cash & Carry, Christian
Lacroix, Pylones or Intermarché. The focus of the trade strategy on
merchants with important transaction volume has been a success as
the average flow by client saw a significant rise in 2017. This
strategy slightly made the turnover rate go down and which
established at 1.1% in 2017 but stayed superior to the sector.
The current operating income of
the year, in loss of 4.5 million euros, demonstrated the importance
of investments made on HiPay's platform which allowed us to
preserve a technological advantage and to most quickly gain market
shares in the coming years.
Ongoing
international development
HiPay successfully pursued its
international expansion with notable sales investments in Europe.
In fact, over half of HiPay's transactions are made by merchants
established outside France. This strategy of geographical
diversification should keep going on and accelerate in 2018 as much
by supporting existing clients in their development project than by
integrating new European references.
Enrichment of the
platform
We now offer to our clients the
possibility to process payments as much on their online boutiques
as well as in their physical stores and we also provide help on the
implementation of innovative payment processes (store-to-web,
web-to-store). HiPay also gives them a consolidated vision of their
data, whatever the distribution channel is.
Our product is constantly
evolving. HiPay has made one of its priorities to complete the
payment methods available on its platform (as AliPay, ApplePay or
MyBank this year) with the purpose to be a better guide to its
clients in all their development plans.
Continued
investment in technologies
With the ambition to better help
its clients and to increase their revenue, HiPay keeps investing in
its proprietary technologies to offer a full-service payment
platform among the most complete of the market.
Via HiPay
Intelligence, our clients benefit from an analysis of their
data. They can have a complete view of their purchase funnel as the
solution collects data from Google Analytics to the payment page.
This new use of the payment data allows merchants to precisely
measure the ROI of their Marketing investments and to optimize the
design of their buying journey.
2017 also has been marked by the
use of artificial intelligence and machine learning on the
platform. The learning algorithms are integrated to our anti-fraud
module. Thanks to HiPay Sentinel, our clients
maximize their benefits by raising their conversion rate while
reducing fraud and thus human interventions.
Investments linked to artificial
intelligence should keep going on in 2018 with the use of this
technology in other features like the intelligent routing of
transactions (it will be able to choose the most economic or most
efficient acquisition routing) or also the optimization of the
payment pages.
These investments are translated
by the hiring of around twenty developers and data scientists, but
also a reorganization of our Product Department to accelerate the
go-to-market of this new features.
Revision of the
organization around the client
During the twelve last months,
HiPay simplified its organization to be able to absorb the current
growth and to be the most efficient. The concerned departments are
now exchanging information in a more effectively way for a better
exploitation of the data to improve our business knowledge and
manage the activity. This change has also been an occasion to
industrialize most of our tools and processes; evolution that
should be completed in 2018.
Beside this new organization and
in order to support the trade strategy in favor of important
merchants, a lot of investments have been made on the support teams
and the user experience, as much on the staff (around fifteen new
recruitments) as on the internal applications. One goal: to always
better serve our clients. A noticeable improvement of the customer
satisfaction has been measured and observed. We have for ambition
to get 90% of our clients fully satisfied in 2018.
A strong and
healthy financial situation despite some operating loss
The consolidated balance sheet,
with a shareholders' equity of 52 million euros and a net cash
equals to 8 million euros on December 31st, 2017,
allows us to consider a serene future with a strong capacity to
absorb all the necessary investments for the growth of the coming
years. All available means are used to quickly reach our goals and
place HiPay as referent actor on the European market.
Next financial
communication: April 30th, 2018 -
General Meeting Results.
About HiPay Group
We're a global payment provider
processing more than 2bn € annually across 150 countries and 220
payment types. By harnessing data analytics we help deliver
valuable customer insights that enable our clients businesses to
succeed.
More information on hipay.com
Find us on Twitter, LinkedIn and Google+
Press contact:
François Aubert & Loukianos
Zaganiaris
+33 (0)1 42 22 24 10
hipay@balloupr.com
This press
release does not constitute an offer to sell or a solicitation of
an offer to buy HiPay Group shares. If you wish to obtain more
information about HiPay Group, please refer to our website
hipay.com, under the Investors heading. This press
release may contain some forward-looking statements. Although HiPay
Group considers that these statements are based on reasonable
statements on the publication date of this release, they are by
their very nature subject to risks and uncertainties that could
cause the actual results to differ from those indicated or
projected in these statements. HiPay Group operates in a
continually changing environment and new risks could potentially
emerge. HiPay Group assumes no obligation to update these
forward-looking statements, whether to reflect new information,
future events or other circumstances.
[1] Closed by
the HiPay Group SA Board of Directors on March 13th, 2018, the
annual consolidated financial statements have been audited and the
corresponding certification report is being prepared. The annual
report on the financial statements for the year ended December
31st, 2017, will
be available within the legal deadline on the company's website,
www.hipay.com, under the "Investors"
heading.
[2] The result
does not include the micropayment activity which contributes from
January 1th, 2017 to
July 31st, 2017 and
will be retreated in the consolidated financial statement in
compliance with the IFR 5 "Non-current Assets Held
for Sale and Discontinued Operations". This result will be
presented on a separate line of the income statement.
PDF Version
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: HiPay Group via Globenewswire