Merchant Services Propel Worldline’s Q1 2024 Revenue Surge

The French payment and transactional services company, Worldline (EPA: WLD), has concluded the first quarter of 2024. It reported that the group’s revenue was close to €1.1 billion, along with an organic growth rate of 2.5 percent.

In the recent announcement, the firm emphasized its restructuring of the Merchant Services operating model, introducing two new go-to-market channels. The focus will be on integrating technology platforms through the adoption of more agile processes. It also optimizes procurement and streamlines the organizational structure, and sourcing as part of its Power24 initiative.

Power24 Program Aims To Enhance Competitiveness In Specific Countries By 2025

Grapinet further stated that Power24, the firm’s accelerated transformation program, is actively underway with reorganization efforts already initiated in specific countries. With these ongoing efforts, social processes are also proceeding as scheduled. This initiative will enhance Worldline’s competitiveness and structural mid-term profile, with the full benefits anticipated to materialize in 2025.

Grapinet stated that based on these first-quarter achievements, the team fully affirms that Worldline is making significant progress in its transition to a streamlined group.  This progress is achieved through rigorous execution, a strengthened focus, and the collective support of their talents and strategic partners.

Worldline Seeks To Achieve An Organic Revenue Growth Of At Least 3 Percent

Upon dissecting the figures, the group generated €225 million stemming from financial services and €787 million from Merchant Services. The segment about Merchant Services experienced a 3.9 percent enhancement, whereas financial services witnessed a decrement of 1.4 percent.

Additionally, the group garnered €85 million from its mobility & e-transactional services business stream, where growth was modest, exhibiting a slight uptick of 0.7 percent.

Worldline achieved revenue of €4.61 billion in 2023, marking a 6 percent rise. However, the company disclosed a net loss of €817 million.

For the current fiscal year, its objective is to achieve an organic revenue growth of no less than 3 percent. Additionally, it aims to attain a free cash flow of at least €230 million and an adjusted annual EBITDA of at least €1.17 billion.

The Chief Executive Officer Gilles Grapinet, stated that Worldline is progressing well towards achieving its 2024 targets. He expressed satisfaction with the robust commercial developments made in recent months. He also acknowledges the new contracts and partnerships, which are laying the groundwork for accelerated growth in their Merchant Services division.

Situated in France, Worldline offers payment services to acquirers, banks, and merchants on a global scale. The firm received a payments license in the United Kingdom and expanded its footprint in Asia by acquiring a Major Payment Institution license from the Singapore regulatory authority.