We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Worldline | EU:WLN | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.085 | -0.76% | 11.11 | 11.105 | 11.115 | 11.275 | 11.06 | 11.25 | 97,589 | 09:16:39 |
Q3 2021 revenue1in line with full-year trajectory
Robust organic growth of 8.3% Q3 revenue: € 960 million
Divestment strategy of the payment terminal business validated2Short term scenario: sale discussions progressing as per plan
2021 objectives for continued operations3in line with full year guidanceAt least 6% revenue organic growthAbove 200 bps OMDA margin improvement vs. 2020 proforma (23.1%)Circa 42% OMDA conversion to FCF (stable versus 20204)
New governance in placeChairman of the Board: Bernard BourigeaudCEO: Gilles Grapinet
Bezons, October 26, 2021 – Worldline [Euronext: WLN], leader in the payments industry, today announces its Q3 2021 revenue. As planned at the time of the Ingenico’s acquisition, the new governance of the Group has been implemented by the Board of Directors, with Bernard Bourigeaud appointed as Chairman while Gilles Grapinet remains CEO.
Gilles Grapinet, CEO of Worldline, said: “Throughout the third quarter, Worldline benefited from steady dynamics in domestic payment transaction volumes, allowing the Group to deliver particularly robust growth well in line with our central scenario for the year. The ongoing trends are expected to continue, paving the way for further acceleration in Q4. As such, we confirm our 2021 objectives, which are now excluding those of the payment terminal business.
As part of the review of the payment terminal activity, the Board of Directors has validated the divestment strategy. Correspondingly, the Group has completed the definition of all the elements necessary for a fully stand-alone and independent TSS business. The Group is currently giving priority to the short-term scenario with sale discussions progressing as per plan.
Finally, Worldline will host tomorrow its 2021 Investor Day where we will present our vision for the next three years.”
Bernard Bourigeaud, Chairman of the Board of Directors of Worldline said: “I am honored and very proud to become Chairman of the Board of Directors of Worldline at this very important moment of the new Group’s three-year strategic plan, and to work with the Board Members and Gilles Grapinet and its management team, to endorse Worldline’s vision to create a Global payment champion for the benefit of all stakeholders and society at large.”
New governance in place
As announced in the context of the acquisition of Ingenico and confirmed by Worldline in its press release dated April 14, 2021, Mister Bernard Bourigeaud5, independent Director since October 28, 2020, has been appointed as Chairman of the Board of Directors of Worldline on October 25, 2021.
Mister Gilles Grapinet, Chief Executive Officer of the Group since April 30, 2014, and who had assumed the position of Chairman of the Board since October 24, 2019, will continue to lead the executive management of the Group as Chief Executive Officer.
Payment terminals business strategic review
The Board of Directors has validated the strategy to divest TSS (Terminals, Solutions & Services)6. Correspondingly, the Group has completed the definition of all the elements necessary for a fully stand-alone and independent TSS business including its transformation journey, a proper corporate structure, a tested framework for commercial and contractual relationships with Worldline, as well as a documented and detailed carve-out project.
The Group is currently giving priority to the short-term scenario with ongoing sale discussions progressing as per plan.
In this context, TSS is accounted for under IFRS 5 as discontinued operation. As such all figures presented in this press release exclude those of TSS.
2021 revenue trend scenario confirmed
After the materialization of the scenario expected by the Group for the first nine months of 2021, Worldline confirms its underlying hypothesis for H2 2021, as follows:
All 2021 objectives for continued operations7 in line with full year guidance
2021 objectives are based on the revenue trend scenario described above and are the following:
Q3 2021 revenue performance per Global Business Line
For the analysis of the Group’s performance, revenue for Q3 2021 is compared to Q3 2020 revenue at constant scope and exchange rates.
During the third quarter of 2021, Worldline’s revenue reached € 960 million representing a robust organic growth of 8.3%, led by a steady increase in payment transaction volumes. Q3 2021 revenue organic evolution per Global Business Line was as follows:
In € million | Q3 2021 | Q3 2020* | Organic change | |
Merchant Services | 639 | 585 | +9.2% | |
Financial Services | 234 | 223 | +5.0% | |
Mobility & e-Transactional Services | 88 | 79 | +10.9% | |
Worldline | 960 | 887 | +8.3% |
* At constant scope and exchange rates
Merchant Services
Merchant Services’ revenue in Q3 2021 reached € 639 million, representing organic growth of 9.2%. This solid performance was led by the positive ongoing dynamic in domestic payment volumes despite a solid comparison basis. As a reminder, Q3 2020 benefitted from a strong recovery of payment volumes following the wide re-openings of economies during the summer season after the first wave of Covid.
In Q3 2021, the main performance drivers per division were:
Merchant Services continued to support merchants in their digitization plans. In the airline sector in particular with the signing of a contract with Fly Play Airline to deliver a full e-Com solution and with Porter Airlines to offer popular digital wallets, namely WeChat Pay and PayPal, for bookings through the airline’s website. Worldline will also provide an online payment gateway to madeiramadeira (a Brazilian home goods company) managing all domestic cards schemes.
In addition, after having been the payment facilitator partner of DNA Payments, a European payment provider based in the UK, Worldline will now support them for in-store acquiring.
Finally, Worldline extended for 4 additional years an existing 10-year contract for the white label delivery of an acceptance gateway to a large financial institution in the UK.
Financial Services
Financial Services’ revenue in Q3 2021 reached € 234 million, representing an organic growth of 5.0%, showing a continued improvement of its revenue trend since Q4 2020. During the quarter, the main performance drivers of each division were:
During the third quarter, Financial Services continued its commercial development with the signature of a long-term outsourcing contract with ABN AMRO to deliver a large part of Worldline’s Financial Services portfolio, from Issuing and Acquiring Processing to Clearing & Settlement for Instant Payments and SEPA Credit Transfers as well as Digital Services.
Over the quarter, Worldline also continued to enhance its fintech partners ecosystem with new partners such as A3BC, a French fintech venture, to combine its biometric digital ID and data storage protocol solution with Worldline Authentication solution to protect mobile phones from intrusion. Worldline also partners with ecolytiq, a Berlin-based fintech that offers a Sustainability-as-a-Service solution based on the use of payment transaction data to raise banking customers’ awareness of their environmental footprint and encourage more sustainable behaviors.
Mobility & e-Transactional Services
Mobility & e-Transactional Services’ revenue in Q3 2021 reached € 88 million, representing an organic growth of 10.9% led by the recovery on transactional revenue coupled with the roll-out of several projects. By division, the main highlights are:
The commercial activity of Mobility & e-Transactional Services was particularly strong during the third quarter with several contract renewals in the Transport/Ticketing sector such as with the Rail Safety & Standards Board in the UK. Worldline also renewed for 3 years its contract with Thalys consisting in delivering the on-board payment and control solution for Train Managers, including the upgrade to the latest payment solutions.
Finally, answering post-Brexit customs challenges and with its Credit-as-a-Service (CaaS) solution, Worldline is contributing to the launch of a digital solution which will offer UK businesses an easy, cost-effective way to submit customs declarations for importing goods from the EU to Great Britain.
Appendices
9M 2021 revenue performance per Global Business Line
Worldline’s revenue organic evolution per Global Business Line for the first nine months of 2021 was as follows:
In € million | 9M 2021 | 9M 2020* | Organic change | |
Merchant Services | 1,722 | 1,629 | +5.7% | |
Financial Services | 676 | 661 | +2.2% | |
Mobility & e-Transactional Services | 256 | 240 | +6.5% | |
Worldline | 2,654 | 2,530 | +4.9% |
* At constant scope and exchange rates
Reconciliation of Q3 2020 revenue at constant scope and exchange rates with Q3 2020 statutory revenue
For the analysis of the Group’s performance, revenue for Q3 2021 is compared to Q3 2020 revenue at constant scope and exchange rates. Reconciliation between the Q3 2020 reported revenue and the Q3 2020 revenue at constant scope and foreign exchange rates is presented below (per Global Business Lines):
In € million | Q3 2020 | Scope effects** | Exchange rates effect | Q3 2020* | |
Merchant Services | 270 | +314 | -0 | 585 | |
Financial Services | 224 | -1 | +0 | 223 | |
Mobility & e-Transactional Services | 78 | - | +1 | 79 | |
Worldline | 573 | +313 | +1 | 887 |
* At constant scope and September 2021 YTD average exchange rates** At December 2020 YTD average exchange rates
Scope effects are related to the consolidation of Ingenico, and to a lesser extent of GoPay.
Conference call
The Management of Worldline invites you to an international conference call on the Group third quarter revenue, on Tuesday, October 26, 2021 at 7:15 pm (CEST – Paris).
You can join the webcast of the conference:
United Kingdom (Local): | +44 (0) 8444 819 752 |
France, Paris (Local): | +33 (0)1 70 70 07 81 |
Germany, Frankfurt (Local): | +49 069 2222 2625 |
United States, New York (Local): | +1 646 741 3167 |
Standard international: | +44 (0)20 7192 8338 |
Confirmation code: 5584809 |
After the conference, a replay of the webcast will be available on worldline.com, in the Investors section.
Forthcoming events
Contacts
Investor Relations
Laurent Marie+33 7 84 50 18 90laurent.marie@worldline.com
Benoit d’Amécourt+33 6 75 51 41 47benoit.damecourt@worldline.com
Communication
Sandrine van der Ghinst+32 499 585 380sandrine.vanderghinst@worldline.com
Hélène Carlander+33 7 72 25 96 04helene.carlander@worldline.com
About WorldlineWorldline [Euronext: WLN] is the European leader in the payments and transactional services industry and #4 player worldwide. With its global reach and its commitment to innovation, Worldline is the technology partner of choice for merchants, banks and third-party acquirers as well as public transport operators, government agencies and industrial companies in all sectors. Powered by over 20,000 employees in more than 50 countries, Worldline provides its clients with sustainable, trusted and secure solutions across the payment value chain, fostering their business growth wherever they are. Services offered by Worldline in the areas of Merchant Services; Terminals, Solutions & Services; Financial Services and Mobility & e-Transactional Services include domestic and cross-border commercial acquiring, both in-store and online, highly-secure payment transaction processing, a broad portfolio of payment terminals as well as e-ticketing and digital services in the industrial environment. In 2020 Worldline generated a proforma revenue of 4.8 billion euros. worldline.com
Worldline’s corporate purpose (“raison d’être”) is to design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. Worldline makes them environmentally friendly, widely accessible, and supports social transformation.
Disclaimer
This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group's expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors’ behaviors. Any forward-looking statements made in this document are statements about Worldline’s beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Worldline’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2020 Universal Registration Document filed with the French Autorité des marchés financiers (AMF) on April 13, 2021 under the filling number: D.21-0303 and its Amendment filed on July 29, 2021 under the filling number: D. 21-0303-A01.
Revenue organic growth and Operating Margin before Depreciation and Amortization (OMDA) improvement are presented at constant scope and exchange rate. OMDA is presented as defined in the 2020 Universal Registration Document. All amounts are presented in € million without decimal. This may in certain circumstances lead to non-material differences between the sum of the figures and the subtotals that appear in the tables. 2021 objectives are expressed at constant scope and exchange rates and according to Group’s accounting standards.
Worldline does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law.
This document is disseminated for information purposes only and does not constitute an offer to purchase, or a solicitation of an offer to sell, any securities in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they have been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any U.S. state, or are exempt from registration. The securities that may be offered in any transaction have not been and will not be registered under the U.S. Securities Act or the securities laws of any U.S. state and Worldline does not intend to make a public offering of any such securities in the United States.
1 Excluding TSS2 Subject to appropriate social process3 Excluding TSS from January 1st, 20214 Excluding TSS mature activity with a significantly higher conversion rate5 Mister Bernard Bourigeaud's biography is in section G.2.3 of Worldline's 2020 Universal Registration Document.6 Subject to appropriate social process7 Excluding TSS from January 1st, 20218 Excluding TSS mature activity with a significantly higher conversion rate
Attachment
1 Year Worldline Chart |
1 Month Worldline Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions