Worldline SA

WLN

Equity

ISIN FR0011981968 / Valor 24715654

Euronext - Euronext Paris (2024-09-13)

EUR 7.21-14.4%

Worldline SA
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About company

Worldline SA is a leading global PayTech provider that specializes in helping banks enhance their client relationships, introduce new services, and identify revenue-generating opportunities. The company offers a comprehensive range of payment services, covering all aspects of the payment services value chain. With a focus on innovation and technology, Worldline SA plays a crucial role in the financial industry by enabling banks to adapt to the evolving digital landscape and meet the changing needs of their customers.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Worldline SA reported its H1 2024 revenue at €2,289 million, reflecting a 2.1% organic growth compared to the same period in 2023. This growth was driven by resilient activity in Italy and verticals such as travel and gaming, despite softer macroeconomic conditions in core geographies and reduced consumer spending in Europe.

Adjusted EBITDA

The Group’s Adjusted EBITDA for H1 2024 was €514 million, representing 22.5% of revenue. This figure remained broadly stable compared to H1 2023. The profitability in Merchant Services decreased as anticipated due to planned merchant terminations, which was partially offset by improved margins in Financial Services and Mobility & e-Transactional Services divisions.

Net Income

Worldline SA's net income Group share for H1 2024 was €(29) million, significantly impacted by a €174 million non-cash provision related to the Power24 initiative. On a normalized basis, excluding other operating income net of tax, the net income Group share reached €211 million. Normalized basic and diluted EPS were both €0.74, down from €0.86 in H1 2023.

Free Cash Flow

Free cash flow for H1 2024 was €82 million, representing a 16.0% cash conversion of adjusted EBITDA. This figure reflects integration and restructuring costs, Capex, working capital normalization, and cash costs related to Power24. Excluding Power24 cash costs, free cash flow stood at €124 million, representing a 24.1% cash conversion of adjusted EBITDA.

Q2 2024 Revenue

In Q2 2024, Worldline SA's revenue reached €1,192 million, showing a 1.7% organic growth. The Merchant Services division reported €871 million in revenue, with a robust organic growth of 2.6%. The Financial Services division faced challenges due to earlier-than-budgeted re-insourcing of certain contracts, while Mobility & e-Transactional Services benefited from good dynamics in Trusted Services.

Summarized from source with an LLMView Source

Key figures

-73.8%1Y

-89.8%3Y

-87.6%5Y

Performance

102%1Y

67.4%3Y

58.1%5Y

Volatility