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October 25, 2022

Worldline reports 10% organic growth in Q3 2022 revenue

Payment services provider Worldline has reported a 10% organic growth in its Q3 2022 revenue to €1.15bn as against €1.05bn in the same period of 2021.

The Q3 2022 revenue increase is driven by 13.6% organic increase in revenue of Merchant Services, followed by 3.4% growth in Mobility & e-Transactional Services and 1.5% rise in Financial Services.

Worldline CEO Gilles Grapinet said: “During the third quarter of the year, Worldline posted a strong 10% organic revenue growth, benefitting from its superior competitive positioning, mostly attributed to Merchant Services’ strong commercial dynamics with continuous market share gains and steady volume growth”.

Revenue of Merchant Services in the third quarter of 2022 touched €828m, led by a steady growth in acquiring transaction volumes, up +17% year-on-year.

Wordline stated that the performance of Financial Services was in line with the trajectory anticipated for the full year with good volumes and new commercial developments leading to revenue of €241m.

Revenue in Mobility & e-Transactional Services touched €89m in Q3 2022, led by increasing transactional revenue and high project activity with existing and new customers.

The quarter has also seen the company boost its value proposition for both instore and online merchants. This was done through the acquisition of a 40% stake in Online Payment Platform to target the C2C marketplaces’ particular payment needs and to focus on significant growth opportunities in the B2B and B2C marketplace segments.

In line with its strategy to explore new adjacencies through technologies and products acquisitions, the company also closed the acquisition of a 55% stake in SoftPos.eu, a fintech that transforms Android devices into payment terminals, enabling merchants to accept card payments without the requirement for additional hardware.

Earlier this month, Worldline announced the completion of the sale of about 85% of its Terminals, Solutions & Services business line to Apollo Funds, with the sale of the remaining 15% to take place on 1 January 2023.

This deal will allow Worldline to simplify its structure and boost its focus on core payment services. The proceeds from this divestment will enable Worldline to speed up its development in payments services segment.

For the first nine months, the company saw a 11.6% organic growth to $3.17bn in Q3 2022 as against $2.84bn in Q3 2021.  Merchant services posted a growth of 15.6% to $2.20bn, followed by Mobility & e-Transactional Services with 7.3% increase to $274m and Financial Services with 2.3% rise to $698m.

In its guidance for full year 2022, the company expects organic revenue growth between 8% and 10% and a 100 to 150 basis points improvement in earnings before depreciation and amortisation margin.

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