(AOF) – Adyen fell 10.60% to 1615.40 euros, the results of the first half having emerged below expectations. However, the payment specialist saw its net profit increase by 38% to 282.1 million euros and its Ebitda by 31% to 356.3 million euros. The latter, however, came out under the consensus amounting to 383.5 million euros. Adyen posted an Ebitda margin of 58.6% against 61.3% a year earlier. The market was looking for 62.3%.
It was notably penalized by the increase in travel and event costs, which had fallen during the Covid.
Revenues increased by 37% to 608.5 million euros for volumes processed up 60% to 345.8 billion euros.
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Maximum staff turnover
Companies in the IT services sector have seen the departure of more than 20% of their workforce in twelve months. This trend is not unusual in the sector, but it is reaching an unprecedented scale, in a context of strong growth and good recruitment dynamics. In addition, employees have new requirements and aspirations. The main criterion is the flexibility of work and the way it is implemented in the company. The American-Indian company Cognizant saw around 35% of its 330,000 engineers leave the company in one year. Capgemini, grouping 32,000 French employees, recently suffered its first strike since 2008, with a demand for a collective increase in remuneration.
The lucrative database market
This mature global market is expected to generate more than $40 billion in revenue this year, compared to $22 billion in 2017, according to IDC. Contrary to its initial ambitions, SAP did not succeed in dethroning Oracle. This is mainly due to major developments in this market with the emergence of Amazon Web Services or Google Cloud. Benefiting from a significant competitive advantage as companies’ data hosts, these players have gained significant market share in recent years. However, faced with a growing corporate appetite for high value-added data, traditional players have a card to play.
The negative effects of rising interest rates
The rise in interest rates normally causes an increase in bank income through the loans granted. In Europe, according to a survey conducted by S&P among 85 banking establishments, the sector expects an average increase of 18% in its net interest income. However, this new inflationary context also has undesirable effects, in particular an increase in refinancing costs. It is also accompanied by the fear of a new recession, which would then affect all the bank’s businesses, ranging from loans to asset management, whose income is correlated to market valuations. Reassuring element: the banks of the euro zone are sufficiently solid to face a deterioration of their environment.