The Adyen board has a tough job ahead of it at the investor day in San Francisco. The Amsterdam payment company was once the growth champion of the stock exchange, but last summer the tide turned. “It’s now about Adyen’s credibility,” says stock analyst Nico Inberg of deshareholder.nl.
‘They do show the quarterly figures on the investor day, but they have to do that every quarter, instead of every six months’
The share price of the Amsterdam payment company collapsed 17 augustus with the largest AEX loss in twenty years. The stock closed 39 percent lower. ‘The long-term plan they had was very nice. But the half-year figures showed that that plan may not be feasible,” Inberg looks back on the figures that preceded the fall.
In America, Adyen had it in his own words annoying. ‘According to Adyen, customers really looked at the money there. That’s the case all over the world with higher interest rates.’
In San Francisco, Adyen must come up with a story for shareholders and analysts. According to Inberg, this requires an explanation for the percentages, because they are not always reliable. ‘The current story is not clear at all. Also because they only provide half-yearly figures.’
Inberg believes that Adyen should change that. ‘They do show the quarterly figures on the investor day, but they have to do that every quarter, instead of every six months.’
Management under pressure
The management remains in place despite the malaise. Investors will also think something of this, says the stock analyst. ‘The market already knows, just not Adyen yet. It’s just like the Ajax coach. But at least let them clarify the US market and come up with a long-term plan. And now a realistic story.’
The post first appeared on www.bnr.nl