Worldline (EPA: WLD), a French payment and transactional services company, finished the first three months of 2024 with a group revenue of nearly €1.1 billion and an organic growth of 2.5 percent.
Breaking down the numbers, the group generated €787 million from merchant services and €225 million from financial services. The business from merchant services improved by 3.9 percent, while the financial services declined by 1.4 percent.
The group also generated €85 million from its mobility & e-transactional services business stream, which saw limited growth, with a slight increase of 0.7 percent.
“Worldline is fully on track to meet its 2024 targets,” said CEO Gilles Grapinet. “I am also pleased with the solid and promising commercial developments achieved over the last months in terms of new contracts and partnerships, setting the stage for our Merchant Services growth acceleration.”
Growth Objectives Are Aligned
Headquartered in France, Worldline provides payment services to merchants, banks, and acquirers globally. The company received a payments license in the United Kingdom and expanded its presence in Asia with a Major Payment Institution license from the Singapore regulator.
In the latest announcement, the company highlighted that it is restructuring its merchant services operating model with two new go-to-market channels. It will focus on consolidating technology platforms with the adoption of more agile processes, simplifying the organisational structure, and optimising procurement and sourcing under its Power24 initiative.
“Our accelerated transformation program, Power24, is in full motion with reorganisation already initiated in targeted countries, while social processes are progressing as planned,” the CEO added. “It will strengthen Worldline's competitiveness and structural mid-term profile, with full benefits expected in 2025.”
A Set Objective to Improve Financials
In 2023, Worldline generated €4.61 billion in revenue, a 6 percent increase. However, it reported a net loss of €817 million.
For the current year, its target is to generate an organic revenue growth of at least 3 percent. It is also aiming to achieve an adjusted annual EBITDA of at least €1.17 billion and a free cash flow of at least €230 million.
“Based on these first quarter achievements, we fully confirm that we are well ahead in our transition to a streamlined group through a reinforced focus, rigorous execution, and the combined support of our talents and strategic partners,” the CEO added.
