HiPay H1 2019: +33% Transaction Volume 1.8 billion euros

 Paris, July 25, 2019: HiPay (ISIN code FR0012821916 - HIPAY), the French fintech company specialising in Omnichannel payment solutions, announces its results for the first half of 2019¹.

In millions of euros	S1 2019	S1 2018		Var. %
Consolidated income statements
Transaction Volume	1 761	1 325		+33 %
Revenue	16.8	13.0		+29 %
In millions of euros	June 30 2019	Dec. 31 2018   (Pro forma)		Var. %
Consolidated balance sheets
Shareholders’ equity	39.9	42.4		-6 %
Cash and cash equivalent	5.4	2.7		+102 %

Commenting on the first half results, Grégoire Bourdin, Chief Executive Officer of HiPay, said: "HiPay is once again demonstrating the relevance of its offer and the talent of its teams by posting 33% transaction volume growth in the first half of 2019. The objective of controlling operating costs has been achieved: compared to the first half of 2018, the EBIT increased by 37%. The commercial dynamic is still as strong as ever and the market's appetite for our offers continues unabated.

 Business Strategy Success

• +568 merchants, including 91 major accounts.
• Many customers signed with complex technical needs, including the French Tennis Federation, for which HiPay managed the high traffic peaks during the sale of Rolland Garros 2019 tickets.
• Strong partnerships established on proximity payment systems, including the French leader in proximity payment maintenance services, AVEM.
• On-going sector diversification of HiPay's customers with the launch of restaurant players such as Pizza Hut, tourism such as Club Med and press such as Le Figaro.

Offer Enhancement

• Complete coverage of all payment channels and usages thanks to the launch of a solution for interactive kiosk (unattended payment terminals).
• Implementation of an easy solution to ensure merchants compliancy with the PSD2 regulation thanks to HiPay's expertise in the transactional data management.
• Signing of an innovative partnership with VISA for the implementation of VISA Token Services: a tokenization solution that enhances payment security.
• New success for the technical partner management program with the integration of HiPay into the Orchestra platform (the leading software platform for the French travel market).

Continued Activity Growth

• Significant increase in transaction volumes managed with approximately 1.8 billion this half-year (+33% vs. H1 2018 and +16% vs. S2 2018) thanks to a continued strong commercial momentum.
• Sales increased by +29% to €16.8 million from €13.0 million in the first half of 2018, reflecting both the growth in sales volume and HiPay's ability to correctly value its product. The commission rate remained around 0.95%.

Improving Operational Efficiency

• Gross margin up 28% vs. the first semester 2018 to €8.8 million.
• Thanks to a controlled recruitment policy, human resources costs appear to have increased by 7%, well below the margin growth.
• Operating and net income of the group, up sharply to - €2.3 million from - €3.7 million at June 30, 2018 and - €2.7 million from - €4.2 million at June 30, 2018, an improvement of 36% and 37% respectively, demonstrating HiPay's ability to combine growth and control of its operating costs.
• With available cash of €5.4 million at 30 June 2019, HiPay can look forward to pursuing its commercial and technological strategy with confidence.

Next financial communication: February 20, 2020 – Announcement of 2019 revenue

About HiPay
HiPay is a global payment service provider. By harnessing the power of payment data, we participate in our merchants’ growth by giving them a 360-degree view of their activities.

More information on hipay.com and you can also follow us on Twitter and linkedin

The HiPay Group is listed on Compartment C of Euronext Paris (ISIN code: FR0012821916 - HIPAY mnemonic).

Press Contact

Emmanuel Chaumeau

press@hipay.com

This press release does not constitute an offer to sell or the solicitation of an offer to buy HIPAY securities. If you would like more complete information about HiPay Group, please refer to our website hipay.com, Investors section. This press release may contain certain forward-looking statements. Although HiPay Group believes that these statements are based on reasonable assumptions as of the date of this press release, they are by their nature subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by these statements. HiPay Group operates in a highly evolving sector in which new risk factors may emerge. HiPay Group does not undertake any obligation to update these forward-looking statements to reflect new information, events or other circumstances.

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¹ The interim and consolidated financial statements, which were approved by the Board of Directors of HiPay Group SA on 23 July 2019, have been subject to a limited review and the corresponding certification report is being issued. The half-yearly financial report on the financial statements for the six months ended 30 June 2019 will be available in the coming days on the Group's website at www.hipay.com under the heading "Investors".

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• HiPay_résultats S1 2019_EN