HiPay Group (ALHYP) H1 2026 earnings summary

Executive summary

• Payment volumes increased by 6.0% year-over-year to €4.9 billion, reflecting strong commercial momentum in French Retail, International Retail, and regulated iGaming.

• Revenue declined by 2.1% year-over-year to €36.6 million, mainly due to an unfavorable business mix in Digital markets, with sequential improvement in Q2.

• EBITDA reached €2.5 million (6.8% of revenue), while recurring operating income was break-even; net loss was €1.4 million, impacted by Digital segment performance.

• Operating cash flow was strong at €5.5 million, benefiting from improved working capital.

• Continued investments in product development, international expansion, and operational efficiency are progressing as planned.

Financial highlights

• Payment volumes: €4,891.5 million in H1 2026 vs. €4,615.8 million in H1 2025 (+6.0%).

• Revenue: €36.6 million in H1 2026 vs. €37.4 million in H1 2025 (-2.1%).

• EBITDA: €2.5 million in H1 2026 vs. €3.5 million in H1 2025 (-€1.0 million).

• Net income: -€1.4 million in H1 2026 vs. €0.4 million in H1 2025 (-€1.7 million).

• Operating cash flow: €5.5 million in H1 2026 vs. €2.8 million in H1 2025 (+€2.6 million).

Outlook and guidance

• Annual revenue growth target of 5–8% confirmed, with double-digit payment volume growth expected in H2 2026.

• EBITDA margin guidance for 2026 remains at 10–11% of revenue.

• Confidence in achieving profitable growth, supported by new merchant ramp-up, new offerings, European expansion, and transformation plan benefits.