Dutch payments firm Adyen (ADYEN.AS) lowered its annual revenue forecast, citing the impact of U.S. tariffs on its clients’ growth. The company’s shares fell 9.2% by mid-afternoon trading, after an earlier drop of more than 20% in the session.
Adyen now sees the modest acceleration in net revenue growth it had anticipated for 2025 as unlikely, although it reaffirmed its midterm target of annual net revenue growth in the twenties through 2026.
The company’s broad client base and international presence have allowed it to navigate consumer spending shifts better than peers, but global exposure also leaves it vulnerable to trade tensions and currency volatility. Finance Chief Ethan Tandowsky highlighted that market volume growth—the expansion of Adyen’s own customer activity—has been negatively affected by recent U.S. tariff changes, including the removal of the “de minimis” exemption for low-value shipments.
Despite a 20% year-over-year increase, Adyen’s half-year net revenue of €1.09 billion ($1.27 billion) slightly missed market expectations of €1.11 billion. Half-year EBITDA also fell short, coming in at €543.7 million versus the €550.8 million forecasted. Analysts described the results as underwhelming, suggesting continued pressure on the company’s shares.
Adyen expects EBITDA margins to expand in 2025, though at a slower pace than in 2024, reflecting both external trade pressures and moderate growth in customer activity.
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IMAGE: Reuters
