Worldline registers 9.2% Y/Y growth in Q1 2023 revenue
Worldline SA (EPA:WLN), a global leader in payment services, today reported its revenue for the first quarter of 2023.
Worldline’s Q1 2023 revenue reached € 1,070 million, representing a 9.2% organic growth. This achievement was notably reached thanks to the solid growth in Merchant Services at 12.6% organically, fuelled by payment volumes both instore and online in commercial acquiring activities.
Financial Services was up by 2.3%, a performance in line with anticipated full year trajectory with good commercial developments and the beginning of the ramp-up phase of new contracts. Finally, Mobility & e-Transactional Services benefited of a solid underlying growth but remained impacted, as already disclosed, by the re-insourcing of a secured mail telco operator contract end of H1 22, leading to an overall flat performance in Q1 2023.
Earlier in April, Worldline and Crédit Agricole SA announced the signing of a non-binding exclusive agreement regarding a strategic partnership to create a major player in the French payment market.
The joint-company would be majority owned (50% of total capital plus one share) and fully consolidated by Worldline and would be in charge of leveraging Worldline’s global processing power and of developing all the innovative products dedicated to the French market. The joint-company would also be in charge of the commercial development of the alliance, both directly for largest merchants in particular, and indirectly by providing an active support to the bank distribution channels.
The partnership will start with a joint €80 million investment equally supported over 2023-2024. It will be focused on products localization and pre-launch costs. The joint company will start to generate revenue and OMDA early 2025. Total transaction costs and 2023-2024 phasing of cash investments required for the set-up of the contemplated joint company are under discussions.