Worldline - Governance evolution and Trading Update
Worldline governance evolution and
Trading Update
Departure of Gilles Grapinet as CEO and
member of the Board
Marc-Henri Desportes appointed as CEO for an interim
period
FY2024 guidance adjusted
Paris, La Défense, September 13,
2024
Governance Update
Following the meeting on September 12, 2024, the
Board of Directors announced Gilles Grapinet's departure as Chief
Executive Officer and member of the Board of Worldline effective 30
September 2024.
The Chairman of the Board together with the
Nomination Committee and with the support of an international
search agency, will take the lead in the search for a new Chief
Executive Officer and assess internal and external candidates, as
per best governance practices.
When appointed following the search, the new CEO
will work closely with the Board to determine the new strategic
plan, which will be communicated to the investment community at an
appropriate time. The capital market day initially scheduled on
November 26th has been postponed to allow the new CEO to contribute
to the strategic planning process.
The Board has decided to appoint Marc-Henri
Desportes, currently Deputy Chief Executive Officer and Head of
Merchant Services, as Chief Executive Officer for an interim period
according to the succession plan. In this role, Marc-Henri will be
responsible for overseeing the company's day-to-day operations and
implementing the Board's strategic decisions.
Along with this announcement, Worldline
reiterates its continued focus on executing Power24. The plan aims
to accelerate Worldline's transformation into a more client-centric
company, drive innovation, enhance operational efficiency, and
position the Group for stronger future growth and margin
improvement.
Wilfried Verstraete, Chairman of
Worldline’s Board of Directors, declared:
“On behalf of the Board of Directors and
Group employees, I would like to thank the work performed by Gilles
Grapinet as Chief Executive Officer of Worldline, moving the
company forward as a leading global Paytech since its IPO, having
provided the Group with a full pan-European footprint, a vast
customer base and a unique network of strategic partnerships with
leading financial institutions. Power24 and all our current major
development initiatives will be pursued under the steer of
Marc-Henri Desportes, whilst the next strategic plan of Worldline
will be actively prepared to leverage all our remarkable assets for
long-term development and strong value creation for all
stakeholders.”
Gilles Grapinet declared:
“For more than a decade, it has been an
honor for me to build Worldline as one of the leading players in
the global digital payment industry, delivering on our strategic
and technological vision to create a leading pan-European Paytech
with global reach, to overcome the historical sector fragmentation
and operate at the scale of the single market for the benefit of
all our business partners. I express my deepest gratitude to all
the stakeholders, in particular to all our managers and colleagues
for their remarkable commitment, which made this achievement
possible over these intense years. As Worldline enters a new phase,
I am fully confident that Marc-Henri Desportes will pursue to
successfully execute Power24 to adapt to the current challenges. By
leveraging all its assets and talents, I am convinced that
Worldline has a very solid future ahead.”
Guidance Update
Over the summer, Worldline experienced slow
trading conditions coupled with specific performance issues in our
Pacific business and on some global online verticals (e.g.
travel).
As a result, additional action plans are being
implemented, including measures on revenue generation and cash
costs. Further detail will be provided during Worldline Q3 results
announcement.
Worldline confirms that Power24 is fully on
track to deliver circa € 220 million run-rate cash cost savings in
2025.
Consequently, Worldline resets its FY’24 guidance to reflect these
developments:
- Revenue: c. 1.0% organic growth,
which could increase subject to improved trading conditions
- Adjusted EBITDA: c. € 1.1bn
- FCF: c. € 0.2bn
Biography:
Marc-Henri Desportes
Since 2024, Marc-Henri Desportes has been
managing the Merchant Services Global Business Line. After being
General Manager in 2013, he was appointed in 2018 as Deputy CEO of
Worldline to lead all its business lines and operations with an
ambition to act every day to provide Worldline’s clients with
sustainable, trusted and secure solutions across the payment value
chain, fostering their business growth wherever they are.
Marc-Henri is a graduate of the Ecole Polytechnique and of the
Ecole des Mines de Paris. He began his career at the French
Ministry of Finances from 2000 to 2005. He joined the BNP Paribas
group, in charge of audit coordination from 2005 to 2006, and
became Chief Information Officer at BNL, BNP Paribas’ Italian
subsidiary. In 2009, he joined the Atos group as an ExCom Member
and Director of the Global Innovation Business Development &
Strategy Global Business Lines, then, Director of the High
Technology Settlement Services and Specialized Activities Business
Unit in July 2011.
FORTHCOMING EVENTS
- October 30,
2024: Q3
2024 revenue (after market close)
INVESTOR RELATIONS
Laurent Marie
E laurent.marie@worldline.com
Guillaume Delaunay
E guillaume.delaunay@worldline.com
COMMUNICATION
Sandrine van der Ghinst
E sandrine.vanderghinst@worldline.com
Hélène Carlander
E helene.carlander@worldline.com
ABOUT WORLDLINE
Worldline [Euronext: WLN] helps businesses of
all shapes and sizes to accelerate their growth journey – quickly,
simply, and securely. With advanced payments technology, local
expertise and solutions customised for hundreds of markets and
industries, Worldline powers the growth of over one million
businesses around the world. Worldline generated a 4.6 billion
euros revenue in 2023. worldline.com
Worldline’s corporate purpose (“raison d’être”)
is to design and operate leading digital payment and transactional
solutions that enable sustainable economic growth and reinforce
trust and security in our societies. Worldline makes them
environmentally friendly, widely accessible, and supports social
transformation.
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DISCLAIMER
This document contains forward-looking
statements that involve risks and uncertainties, including
references, concerning the Group's expected growth and
profitability in the future which may significantly impact the
expected performance indicated in the forward-looking statements.
These risks and uncertainties are linked to factors out of the
control of the Company and not precisely estimated, such as market
conditions or competitors’ behaviors. Any forward-looking
statements made in this document are statements about Worldline’s
beliefs and expectations and should be evaluated as such.
Forward-looking statements include statements that may relate to
Worldline’s plans, objectives, strategies, goals, future events,
future revenues or synergies, or performance, and other information
that is not historical information. Actual events or results may
differ from those described in this document due to a number of
risks and uncertainties that are described within the 2022
Universal Registration Document filed with the French Autorité des
marchés financiers (AMF) on April 30, 2024 under the filling
number: D.24-0377 and its Amendment filed on August 2, 2024 under
number D.24-0377-A01.
Revenue organic growth and Adjusted EBITDA
improvement are presented at constant scope and exchange rate.
Adjusted EBITDA is presented as defined in the 2023 Universal
Registration Document. All amounts are presented in € million
without decimal. This may in certain circumstances lead to
non-material differences between the sum of the figures and the
subtotals that appear in the tables. 2024 objectives are expressed
at constant scope and exchange rates and according to Group’s
accounting standards.
Worldline does not undertake, and specifically
disclaims, any obligation or responsibility to update or amend any
of the information above except as otherwise required by law.
This document is disseminated for information
purposes only and does not constitute an offer to purchase, or a
solicitation of an offer to sell, any securities in the United
States or any other jurisdiction. Securities may not be offered or
sold in the United States unless they have been registered under
the U.S. Securities Act of 1933, as amended (the “U.S. Securities
Act”) or the securities laws of any U.S. state, or are exempt from
registration. The securities that may be offered in any transaction
have not been and will not be registered under the U.S. Securities
Act or the securities laws of any U.S. state and Worldline does not
intend to make a public offering of any such securities in the
United States.
- 20240913 - Worldline - Governance evolution and Trading Update
- Press Release
Grafico Azioni Worldline (TG:WO6)
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Grafico Azioni Worldline (TG:WO6)
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