Feb 25 (Reuters) - Digital payment service group Worldline's disposal of non-core parts of the business is near completion, the company said as it reported annual results in line with guidance after a
Worldline says asset sales near completion after meeting annual targets
Feb 25 (Reuters) - Digital payment service group Worldline's disposal of non-core parts of the business is near completion, the company said as it reported annual results in line with guidance after a transformational year under its new CEO.
Revenue and Profit Highlights
Results and Restructuring Overview
The Paris-listed company reported a 2.4% decline in annual revenue to 4.5 billion euros ($5.3 billion), including the digital services business that is due to be sold as part of the disposal programme.
Adjusted core profit, meanwhile, stood at 841 million euros, within the forecast range of 830 million to 855 million euros.
2026 Guidance Outlook
The group reaffirmed 2026 guidance of organic revenue growth in a low single-digit percentage and adjusted core profit between 630 million and 650 million euros.
Divestments and Headcount Impact
The company also said it expects its divestments to bring a 30% decline in headcount.
Capital Increase and Share Sale
CEO Pierre-Antoine Vacheron said that the fourth quarter marked a "decisive turning point" for Worldline and that he believes the earnings report and a 500 million euro capital increase in March will draw a line under two years of crisis at the French payments group.
Market Value and Short-Selling
Worldline is clinging to a fraction of its market value since its pandemic peak, 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.
The planned shares sale, which exceeds Worldline's current market capitalisation of about 400 million euros, is aimed at halting a negative spiral also marked by heavy short-selling and debt pressure.
Credit Rating and Debt Pressure
It is also aimed at protecting the company's credit rating, after a painful downgrade to junk status by S&P late last year.
FX Reference Rate
($1 = 0.8472 euros)
(Reporting by Mateusz RabiegaAdditional reporting by Mathieu RosemainEditing by David Goodman)
