Worldline Finalizes Divestments, Reports Revenues Above Analyst Forecasts
Worldline's Quarterly Results and Strategic Developments
Quarterly Revenue Performance
April 28 (Reuters) - European digital payment service group Worldline on Tuesday reported quarterly revenues which slightly beat market expectations and said it had completed its divestment scheme with the sale of a 51% stake in its Australian payment business.
Divestment Programme and Strategic Focus
The divestment programme was aimed at slimming down Worldline's cumbersome portfolio of businesses and helping it return to growth. Worldline is now worth only a fraction of the market value it had at its pandemic peak.
Challenges and Investigations
Since then the group has been hit by multiple profit warnings, governance shake-ups and media reports accusing it of concealing client fraud. It was also investigated by Belgian prosecutors over potential money laundering.
Key Financial Highlights
- Paris-listed company reported an 0.5% organic decline in quarterly revenues to 831 million euros ($972 million) versus 826 million expected by analysts polled by the company
- The group sold the stake in Australian ANZ Worldline Payment Solutions and of New Zealand under agreement valuing the entire enterprise at around 107 million euros
- The group's share of net proceeds from the deal is 30 million euros
- The closing of the transaction is expected in the second half of 2026
- The company said that the combined net cash proceeds from all the announced divestments were expected to be between 590-640 million euros and should be received within this year
Outlook and Division Performance
- Worldline confirmed its annual outlook, citing no material effects from geopolitical challenges in the period
- The company also said that its main division - merchant services - returned to growth for the first time since the end of 2024
Exchange Rate Information
($1 = 0.8551 euros)
Reporting Credits
(Reporting by Mateusz Rabiega; Editing by Matt Scuffham)
