Unzer Continues to See Solid Revenue Growth in 2023 with Strong Recovery in Profitability
Berlin, October 31, 2024 – Payment company Unzer has announced its financial results for 2023. The company achieved a solid revenue of €206.7 million, reflecting a positive 3.7 percent growth compared to the previous year (€199.3 million). The performance was particularly strong in the Unified Commerce division, which offers a bundled package of software and payment solutions, helping merchants digitize their businesses and accelerate growth.
2023 Marked a Year of Turnaround with Significant Investments in Compliance and Future Growth
Throughout 2023, substantial efforts were dedicated to enhancing operational efficiency, investing in processes and technology, and ensuring regulatory compliance. These initiatives resulted in significant one-off expenses, which adversely impacted both reported EBITDA and net income for the year.
Normalising for these exceptional costs, the company improved its EBITDA and its gross margins significantly. The adjusted EBITDA stood at €27.4 million, demonstrating a significant increase in profitability within one year, while gross profit saw an 13% increase compared to 2022, reaching €107.5 million. Overall, Unzer successfully reduced its consolidated net loss, enhancing the company's financial and operational stability and positioning it for future growth.
CEO Robert Bueninck explains: “We have narrowed down on our core strategy, further integrated the group companies, and successfully capitalized on product synergies. As a result, we have seen a notable rise both in profitability and in adjusted EBITDA.”
A Promising Horizon: Unzer's 2024 Outlook
For 2024, Unzer is on track to generate sales and gross profit in excess of €225 million and €120 million, respectively. Robert Bueninck comments: “Despite headwinds we achieved our growth targets for 2023 and ended the year on a solid basis. We are confident about 2024, with growth in revenue, gross profit, and adjusted EBITDA. Profitability continues to outpace revenue growth as we further execute our strategy.”
An important milestone is the admission of new merchants to the Unzer-entity Unzer E-Com GmbH by the German Federal Financial Supervisory Authority (BaFin) in October this year. This decision fully lifts the restriction on new business that has been in place since summer 2022. Over the last two years, Unzer has focused on resolving the findings identified by BaFin and enhanced its compliance and governance processes, investing over €20 million.
Unzer Strengthens Unified Commerce Offering and Launches its Suite in Core Markets
Unzer sees a unique opportunity to increase market share in its divisions. Over time, the company has continued to craft a diverse product portfolio, ensuring holistic coverage of the payment transaction industry – from online and in-person payments to advanced collection services and integrated commerce software. One particularly promising segment is Unified Commerce, where Unzer provides payments alongside software services to merchants in selected verticals.
Next to that, Unzer also focuses on expanding its in-house solutions, reducing reliance on third-party providers to enhance operational efficiency and improve profit margins. Additionally, the company is capitalizing on cross-selling opportunities by leveraging the breadth of its product offerings to drive further growth.
Central to Unzer’s strategic approach is the UnzerOne platform. Serving as a unified hub, it seamlessly merges sales, payments, and marketing functions across all touchpoints. Businesses benefit from an intuitive dashboard that provides direct access to real-time data, whether sales, inventory, orders, or customer preferences.
Unzer plans to expand its full product suite to Austria, Luxembourg, and the Scandinavian countries. The company took its first step by launching mobile point-of-sale (POS) solutions in Austria and Luxembourg in early 2024. Looking ahead, Unzer aims to introduce its iPad cash registers and card terminals, including the POS Go mini checkout — a flexible solution tailored for small and mid-sized merchants — in Denmark during the first half of 2025.
About Unzer
Unzer digitalisiert den Handel mit Zahlungs- und Softwarelösungen entlang der gesamten Wertschöpfungskette. Von Online-Einkäufen über mobile Kassensysteme in Filialen bis hin zu notwendigen Geschäfts- und Managementprozessen vernetzen und vereinfachen wir zentrale Abläufe im Einzelhandel. Das ganzheitliche Ökosystem hilft Händlern, ihre Geschäftsmodelle zu optimieren, während ihre Kunden von einem einfachen und nahtlosen Einkaufserlebnis profitieren.
More than 85,000 merchants across Europe already use Unzer's ecosystem. The company employs around 750 people in eight offices in Germany, Austria, Denmark and Luxembourg.