By Leo Marchandon (Reuters) -Worldline expects a low single-digit percentage decline in organic revenue during 2025 following a "challenging" first half, the French digital payments company said on
Wordline forecasts decline in 2025 organic revenue
By Leo Marchandon
(Reuters) -Worldline expects a low single-digit percentage decline in organic revenue during 2025 following a "challenging" first half, the French digital payments company said on Wednesday.
The Paris-based company guided towards adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between 825 and 875 million euro ($1 billion) this year.
"There is work to be done over several quarters before returning to a level of growth consistent with the market," CEO Pierre-Antoine Vacheron said in a call with reporters.
Worldline postponed its yearly guidance in April amid a strategic overhaul initiated following the appointment of Vacheron in May.
In February, it had forecast similar revenue growth in 2025 to the year before.
The group's shares lost over a third of their value in a single day in June, after a group of 21 European media outlets alleged that Worldline covered up client fraud to protect revenue. Its shares hit a low of 2.70 euros before recovering partially, closing at 3.57 euros on Tuesday, valuing the business at 1 billion euros.
Belgian prosecutors opened an investigation in June into potential money laundering activities at its Belgian unit.
Worldline hired auditing firm Accuracy in July to assess its remaining portfolio of merchants engaged in "risky" activities.
The company said on Wednesday that preliminary findings from that review suggest no "material" need for more client relationships to be terminated.
Half-year revenue fell 3.4% to 2.20 billion euro, slightly below the 2.22 billion euro projected in a company-compiled analyst poll.
The performance reflects the challenges encountered over the last months, the company said.
On Tuesday, Worldline announced the sale of its mobility & e-transactional services business to Magellan Partners in a deal valued at up to 410 million euro.
The company also announced that Srikanth Seshadri will become its new Chief Financial Officer on September 8, replacing Gregory Lambertie.
($1 = 0.8663 euros)
(Reporting by Leo Marchandon; Editing by Matt Scuffham)
