Worldline - H1 2021 Results
Solid H1 2021
results
Revenue: € 2,272 million, +0.1%
organicallyStrong recovery in Q2 with +10.1%
organically
OMDA: € 531
million,
23.4%
of revenue+130
bps on a comparable basis with
fast execution of
Ingenico integration
planleading to more than 50% normalized EPS
improvement
Free cash flow: €
268 millionOMDA
conversion rate at
50%
Worldline to acquire
Handelsbanken card
acquiring
activitiesStrategic opportunity to expand
Worldline’s Merchant Services
activitiesin one of the
wealthiest part of Europe
Full execution of the strategic
roadmapExpansion of Merchant
Services activities in South of
Europewith the
acquisition projects of
Cardlink and Axepta ItalyContinuous
progress in TSS strategic review in the successful development of
recurring activities
2021 objectives confirmed
Bezons, July
27, 2021 –
Worldline [Euronext: WLN], leader in the payments industry,
today announces its H1 2021 results.
Gilles Grapinet, Worldline’s Chairman
and CEO said: “I am very satisfied by the solid
performance delivered by Worldline in the first half despite the
third wave of Covid-19 that affected our main markets. Indeed, in
addition to effective management of our operations and our cost
base, our expectations of a strong recovery in volumes from the end
of the first quarter have been fully confirmed. The strong momentum
recorded in the second quarter should continue throughout the rest
of the year, supporting the growth trend of all our different
businesses.
All along the first semester, we made
significant progress with the Ingenico integration, confirming the
66 million euros of synergies expected for 2021. It is a key pillar
of the profitability improvement of c. 200 basis points this year,
on top of the Group operating leverage derived from growth
acceleration and efficiency programs.
As importantly, I am pleased to report that we
have also made very significant progress on our strategic roadmap.
First, an intensive work has been performed on the strategic review
of Worldline’s payment terminal business enabling to reach
significant steps towards its completion expected in 2021.
Secondly, we had remarkable successes in our M&A activities
with three meaningful acquisitions in the semester; Cardlink in
Greece, Axepta Italy, and, announced today, Handelsbanken Card
Acquiring, bringing remarkable positions in the South of Europe and
in the Nordics. This expansion reinforces the uniqueness of
Worldline Merchant Services scale and reach in the European
acquiring and acceptance market.
I am very proud of the growing recognition of
our company as a preferred partner for banks looking to divest
their payment activities and to sign long-term partnerships with
us. It has allowed us since the closing of Ingenico to expand the
size of our merchant services division by circa 15%. More than
ever, Worldline is confirming its position as the reference
European consolidator in our industry.”Worldline to acquire
Handelsbanken Card Acquiring activities in the
Nordic countries
Worldline today announces the signing of a
bidding agreement for the acquisition of 100% of Handelsbanken Card
acquiring activities in the Nordic countries (Sweden, Norway,
Finland and Denmark).
Handelsbanken is a meaningful card acquirer in
the Nordic region with above 550,000 transactions acquired per year
representing a payment volume of c. € 20 billion. The company also
serves over 20,000 merchants.
Generating c. € 35 million in annual revenue and
with an OMDA percentage above 30%, Handelsbanken Card Acquiring is
a well-recognized and regarded payment player in the Nordics
with:
- A pan-Nordic addressable market
presence;
- A high-quality diversified merchant
portfolio, and;
- A long-term merchant relationship
with Handelsbanken, one of the leading banks in the region to
leverage the existing offering and accelerate the growth
profile.
The expansion of Merchant Services activities in
Northern Europe represents a significant development in the Group’s
consolidation strategy in Europe. Driven by digital and eCommerce
payment expansion and backed by a solid macroeconomic environment
as well as a strong long-term growth potential, the Nordic market
is highly attractive and provides strong growth opportunities for
Worldline. It represents a rare opportunity to scale-up its
platforms and roll-out its innovative solutions in very close
partnership with such a leading institution as Handelsbanken.
The key financial impacts of the newly acquired
entity on Worldline are the following:
- Additional annual revenue of c. €
35 million at closing with expected double-digit organic growth
CAGR over the next 4 years through synergies;
- OMDA margin above 30% expected at
closing with upside potential fuelled by operating leverage and
expected synergies of c. € 10 million by 2025;
- Estimated cash-out of c. € 195
million at closing based on an c.15x EV/OMDA multiple, and;
- Closing expected by year end 2021,
subjected to satisfaction of customary condition precedent.
First half 2021 key figures
For the analysis of the Group’s performance,
revenue and Operating Margin before Depreciation and Amortization
(OMDA) for the first semester 2021 are compared to H1 2020 revenue
and OMDA at constant scope and exchange rates. Worldline’s first
half 2021 key figures are as follows:
|
|
H1 2021 key figures |
|
|
|
|
|
In € million |
|
H1 2021 |
H1 2020 |
Change |
|
|
|
|
|
Revenue* |
|
2,272 |
2,270 |
+0.1% |
|
|
|
|
|
OMDA* |
|
531 |
501 |
|
% of revenue |
|
23.4% |
22.1% |
+130 bps |
|
|
|
|
|
Net income Group
share |
|
102 |
53 |
|
% of revenue |
|
4.5% |
2.3% |
|
|
|
|
|
|
Normalized net income Group share** |
|
276 |
115 |
|
% of revenue |
|
12.1% |
5.1% |
|
|
|
|
|
|
Free cash flow
(FCF) |
|
268 |
132 |
|
OMDA to FCF conversion rate*** |
|
50.3% |
53.5% |
|
|
|
|
|
|
Closing net
debt |
|
2,939 |
515 |
|
* H1 2020 at constant scope and exchange rates**
adjusted for (Group share): staff reorganization, rationalization,
integration & acquisition costs, equity-based compensation, and
customer relationships & patents amortization*** H1 2020 cash
conversion calculated on H1 2020 published OMDA of €246m****
revised
As planned, the level of activity was very
contrasted over the semester with a strong recovery of transaction
volumes in Q2 2021 leading to a +10.1% revenue organic growth in
the quarter, notably led by the strong rebound of Merchant Services
activities with the reopening of economies. It follows a level of
activity impacted by Covid-19 related measures and their effects on
the European economies in Q1. As a result, Worldline’s
revenue reached € 2,272 million
during the first half of 2021,
+0.1% organically.
The Group’s Operating Margin before
Depreciation and Amortization (OMDA) in H1
2021 reached
€ 531 million
or
23.4%
of revenue representing an increase of
+130 basis
points compared to H1 2020 at constant scope and exchange
rates. The performance was fully in line with the 2021 objective to
reach a circa 200 basis points improvement reflects the contrasted
revenue evolution over the course of the semester as well as the
ongoing integration of Ingenico and associated synergies (€66m
planned in 2021), in addition to the 3rd year of the SPS synergy
plan (€27m planned in 2021). Over the semester, the Group continued
executing its ongoing transformation plans while investing in
strategic projects to support future growth and notably the one
expected in H2 2021.
Net income Group share stood at
€ 102 million,
representing 4.5% of revenue. Normalized
net income Group share (excluding unusual
and infrequent items, Group share, net of tax) stood at
€ 276 million or
12.1% of
revenue.
Free cash flow in H1 2021 was
€ 268 million,
representing a 50.3% cash conversion of OMDA (free cash flow
divided by OMDA), in line with the objective of the year to reach a
circa 50% OMDA conversion rate into free cash flow.
Group net debt
at the end of the semester amounted to €
2,939 million
compared to € 3,211 million at the end of 2020, mainly thanks to
the free cash flow generated over the period.
Focus on Q2 2021
revenue performance
Q2 2021 revenue performance per Global Business
Line which is as follows:
In € million |
|
Q2 2021 |
Q2 2020* |
Organic change |
|
|
|
|
|
Merchant Services |
|
567 |
478 |
+18.6% |
Terminals, Solutions & Services |
|
313 |
308 |
+1.6% |
Financial Services |
|
226 |
218 |
+3.9% |
Mobility & e-Transactional Services |
|
86 |
79 |
+9.4% |
|
|
|
|
|
Worldline |
|
1,192 |
1,082 |
+10.1% |
* at constant scope and exchange rates
Merchant Services
Merchant Services’ level of activity strongly
accelerated in Q2 2021 compared to Q1 2021, fueled by transaction
volumes recovery related to the reopening of economies. This
resulted in revenue of € 567 million, up
+18.6% organically, with all
division contributing to this performance:
- Commercial acquiring: strong
recovery, benefiting from a solid ramp-up over Q2 with a strong
growth in almost all geographies and customer segments driven by
acceleration in transaction volumes;
- Payment acceptance: steady
performance driven by SMB (small and medium businesses) and large
retailers recovering with the easing of restrictions and online
still growing double-digit fueled by non-Travel verticals;
- Digital services: double-digit
growth with a good dynamic in our key countries such as Belgium and
Switzerland related to retailers’ activities.
Commercial activity in Merchant Services was
very dynamic in Q2 2021 as the Global Business Line continued to
support merchants in the acceleration of their digitization. It
notably materialized when the largest European direct distributor
of frozen foods and ice cream, Bofrost*, chose Worldline to
implement a user-friendly payment solution for the company direct
sales channel, representing c.130 distribution drivers in
Switzerland. Worldline will also ensure the deployment of a payment
gateway and acquiring offering (Credit card processing for online
ordering) for RezPlus, a Canadian online food ordering
platform.
Over the quarter, Merchant Services continued to
reinforce and enhance its offering portfolio, notably through the
development of several partnerships such as with the International
Air Transport Association (IATA) for which all of Worldline’s
payment capabilities and services being made available through the
IATA Financial Gateway (IFG); with Microsoft to futureproof online
businesses against fraud by integrating Dynamics 365 Fraud
Protection into Worldline’s digital commerce payments suite; and
fintechs such as A3BC (Anything Anywhere Anytime Biometric
Connection), to combine their patented solution (2FA and biometric
protection) with Worldline Authentication.
Terminals, Solutions &
Services
Terminals, Solutions & Services’ revenue in
Q2 2021 reached € 313
million, representing an organic growth of
+1.6%
with a contrasted performance between services revenue up double
digit rate while hardware sales remained impacted by the remnants
of the Covid-19 pandemic. However, the division is still recording
promising commercial opportunities, in Terminal as-a-Service, which
should materialize in the coming periods. During the quarter, the
main performance drivers of each region were:
- EMEA: the region was back to growth
in the second quarter benefitting from a good momentum in Western
Europe fuelled by the delivery of significant projects while
Eastern Europe and MEA suffered from a lower level of
activity;
- APAC: strong momentum in APAC
driven by the Pacific region while SEA remains soft but with a
strong pipeline of projects to be materialized in the coming
quarters. China domestic market continued to decline on the back of
a low investment level from banks. This trend has a low impact on
profitability, China being a structural low margin market;
- Latin America: solid performance
with Brazil delivering a strong growth and other countries fuelled
by contract signed and projects’ pipeline;
- North America: activity stabilizing
sequentially after several quarters of strong growth and with
Canada suffering from high comparison basis.
Terminals, Solutions & Services commercial
activity was dynamic in Q2 with in particular a strong traction on
the TaaS offering which materialized in the signature of eigth
important contracts since the closing of Ingenico acquisition,
including long term contracts of three to five years representing a
TCV above €100m. This led to a TaaS Annual Recurring Revenue (ARR)
now above € 70 million euros. In addition, new deals were won since
the beginning of the year with several major banks and acquirers.
These deals are expected to be delivered in H2 2021. Finally, the
Business Line recorded a significant pipeline covering the end of
2021 and 2022.
Financial Services
Financial Services’ revenue in Q2 2021 reached
€ 226 million,
representing an organic growth of
+3.9%. The
business line showed a significant improvement compared to the
performance recorded in the first quarter with the following
performance drivers per division:
- Issuing processing: the level of
activity significantly improved compared to the performance of the
first quarter, benefiting from higher volumes resulting from
reopening of the economy in most of European countries. The
activity also benefited from new volumes on new contracts
ramping-up;
- Acquiring processing: solid
performance thanks to transaction volumes recovery related to the
reopening of economies in most of European countries as well as the
successful start of the run phase of a new contract in France;
- Digital banking: continued strong
growth across all geographies driven in particular by higher
authentication volumes related to acceleration of online
transactions, coupled with a high level of project activity over
the quarter;
- Account payments: stable revenue
performance over the quarter. The division pursued its strong
development with significant level of project activities and
increasing volumes on large contracts.
Among other commercial developments of Financial
Services, Luminor Bank, the third largest financial services
provider in the Baltics awarded Worldline with a five-year
agreement under which Worldline will unify and upgrade Luminor’s
current ATM network. Partnering with Worldline will allow Luminor
to offer a more customer-friendly and newer ATM network for its
customers. Worldline will start transferring Luminor’s ATMs in
Lithuania to their network in June and will complete the switchover
by September across the Baltics. Worldline will also start
upgrading and replacing the oldest ATMs in August.
Furthermore, the pipeline of commercial
opportunities in Financial Services significantly reinforced over
the semester, in both quality and value, with a higher proportion
of new businesses versus renewal and the qualification of several
large outsourcing deals.
Mobility & e-Transactional
Services
Mobility & e-Transactional Services’ revenue
in Q2 2021 reached € 86
million, representing strong growth of
+9.4%
organically. By divisions, main highlights are:
- e-Ticketing: very strong growth
driven by the robust pick-up in the transportation sector in the
Group key countries in Europe as well as higher fare collection in
Latin America, coupled with several development projects in the UK,
France, and Germany;
- Trusted digitization: steady
double-digit growth, driven by new projects and improving volumes
in France, higher volumes on Tax collection in Latin America, and
more project activity on e-archiving solutions in Germany;
- e-Consumer & Mobility: modest
organic growth as a result of a strong performance in Connected
Living fuelled by volumes growth coupled with non-reproductible
project activity on eHealth cryptographic solutions.
In e-Ticketing, Worldline was awarded a further
five-year contract with a large UK train operator to deliver a
seamless integration of systems and data flows for ’on-the-day’
operational control for running trains, mitigating any disruption
and providing real-time train crew visibility and crew management
through a mobile application.
In the Trusted Digitization space, the French
administration for employment and professional training
(DGEFP - Délégation Générale à l’Emploi et à la Formation
Professionnelle) renewed Worldline services for four additional
years to operate a service that permit to promote the employment of
young people, confirming Worldline strong knowledge and assets for
the public sector.
In Mobility & e-Transactional Services,
Worldline has also continued to roll-out its next-generation
Cloud-based solution “Contact”, now supporting customer
communications for over 100 European banks, handling more than
190,000 bank cards, and taking around 215,000 calls every month at
the Worldline service center.
H1 2021
OMDA performance per
Global Business Line
H1 2021 OMDA performance per Global Business
Line was as follows:
|
|
OMDA |
|
OMDA % |
|
|
|
|
|
|
|
|
|
In € million |
|
H1 2021 |
H1 2020* |
Organic change |
|
H1 2021 |
H1 2020* |
Organic change |
|
|
|
|
|
|
|
|
|
Merchant Services |
|
248 |
219 |
+13.1% |
|
22.9% |
21.0% |
+190 bps |
Terminals, Solutions & Services |
|
149 |
157 |
-5.1% |
|
25.7% |
25.0% |
+70 bps |
Financial Services |
|
127 |
130 |
-2.0% |
|
28.8% |
29.6% |
-80 bps |
Mobility & e-Transactional Services |
|
25 |
23 |
+8.7% |
|
14.8% |
14.2% |
+60 bps |
Corporate costs |
|
-17 |
-28 |
-36.7% |
|
-0.8% |
-1.2% |
+40 bps |
|
|
|
|
|
|
|
|
|
Worldline |
|
531 |
501 |
+6.0% |
|
23.4% |
22.1% |
+130 bps |
* at constant scope and exchange rates
Merchant Services
Merchant Services’ OMDA in H1 2021 amounted to
€ 248 million, 22.9% of revenue,
representing an improvement of +190 basis points.
Despite the severe impact of Covid-19 on Q1 revenue, the Global
Business Line was able to strongly improve its profitability thanks
to the growth acceleration in Q2, the materialization of the first
synergies from the integration of Ingenico, and incremental
synergies resulting from the third year of the SIX Payment Services
integration program, as well as cost control actions implemented
early during the year and the impacts of transversal productivity
continuous improvement actions.
Terminals, Solutions &
Services
Terminals, Solutions & Services delivered a
solid improvement of +70
basis points of its OMDA
margin, reaching
25.7% of
revenue and € 149
million. This improvement was partly driven by a
positive product mix as well as transformation and cost savings
plan initiated in 2020.
Financial Services
Financial Services’ remained the most profitable
Global Business Line of the Group in H1 2021 and continued to
significantly improve its cost base while making investments in key
transformation projects to maintain structural profitability
improvements. As a result, OMDA margin reached € 127
million, representing 28.8% of
revenue.
Mobility & e-Transactional
Services
Mobility & e-Transactional Services’ OMDA
reached € 25
million, representing
14.8% of
revenue. The Business Line benefited from the positive
business trend in e-Ticketing, mainly in the UK and LatAm market
fuelled by transaction recovery post-Covid. It has been able to
leverage the scalability of product investments plans and a tight
costs management to improve its profitability by
+60 basis points overall.
Corporate costs
Corporate costs decreased significantlyas a
results of ongoing action plans at corporate level as well as the
effect of the first synergies delivered on the Ingenico
integration.
Progress of the integration of
Ingenico
The integration process of Ingenico is on track
and Worldline fully confirms the € 66 million in synergies expected
for 2021. All workstreams are progressing as planned with notably
the ongoing merger of headquarters ongoing to be achieved in Q4
2021, and numerous other real estate convergence programs launched
together with the successful deployment of an internal mobility
program, enabling reskilling of staff to new positions.
The transformation of support and back-office
function is also reaching significant steps with the harmonization
of key internal IT processes and systems as well as the definition
of the new CRM solution to foster efficiency of the end-to-end sale
process, for an implementation in 2022. The launch of payment
platform harmonization programs have been initiated; notably on the
infrastructure layer (datacenter consolidation program, network
unification) and towards the convergence of acquiring and
acceptance platforms.
Payment terminals
business strategic review on-track with initial
schedule
An intensive work has been performed in the
strategic review of Worldline’s payment terminal business
- Terminals, Solutions & Services (TSS) - and continuous
progresses have been achieved. This review is well on track and
Worldline intends to have completed it in 2021.
2021 objectives
fully
confirmed
After the materialization of the scenario
expected by the Group in H1 2021, Worldline confirms its underlying
hypothesis for H2 2021, as follows:
- Ease of domestic restrictions with
end of lockdowns for non-essential merchants, end of curfews and
borders’ restrictions;
- Intra-European travels fully
allowed and progressive return to normal level of travel
flows;
- No significant intercontinental
travel.
These assumptions should lead to circa
double-digit organic growth in H2 2021.
Based on H2 2021 revenue trend scenario
described above, the Group confirms its 2021 objectives as
follows:
- Revenue
organic growth: At least
mid-single digit
- OMDA
margin: c. +200 basis points improvement vs.
proforma 2020 OMDA margin of 23.9%
- Free cash flow: c.
50% OMDA conversion rate
Investor Day
Worldline is pleased to announce the
presentation of its new 3-year plan at its Investor Day to be held
in Paris on October 27th, 2021. All details will be provided in the
months to come.
Appendices
H1
2021 revenue by Global
Business Line
In € million |
|
H1 2021 |
H1 2020* |
Organic change |
|
|
|
|
|
Merchant Services |
|
1,083 |
1,044 |
+3.8% |
Terminals, Solutions & Services |
|
579 |
627 |
-7.6% |
Financial Services |
|
442 |
438 |
+0.8% |
Mobility & e-Transactional Services |
|
168 |
161 |
+4.3% |
|
|
|
|
|
Worldline |
|
2,272 |
2,270 |
+0.1% |
* at constant scope and exchange rates
Reconciliation of
H1 2020
statutory revenue and OMDA with
H1 2020
revenue and OMDA at constant scope and exchange
rates
For the analysis of the Group’s performance,
revenue and Operating Margin before Depreciation and Amortization
(OMDA) for H1 2020 are compared with H1 2020 revenue and OMDA at
constant scope and exchange rates. Reconciliation between the H1
2020 reported revenue and OMDA and the H1 2020 revenue and OMDA at
constant scope and foreign exchange rates is presented below (per
Global Business Lines):
|
|
Revenue |
|
|
|
|
|
|
In € million |
|
H1 2020 |
Scope
effects** |
Exchange rates effect |
H1 2020* |
|
|
|
|
|
|
Merchant Services |
|
483.6 |
+569.7 |
-9.4 |
1,043.9 |
Terminals, Solutions & Services |
|
0.0 |
+657.1 |
-30.5 |
626.6 |
Financial Services |
|
442.7 |
-2.5 |
-1.8 |
438.4 |
Mobility & e-Transactional Services |
|
163.0 |
- |
-1.6 |
161.3 |
|
|
|
|
|
|
Worldline |
|
1,089.2 |
+1,224.4 |
-43.4 |
2,270.2 |
|
|
|
|
|
|
|
|
OMDA |
|
|
|
|
|
|
In € million |
|
H1 2020 |
Scope
effects** |
Exchange rates effect |
H1 2020* |
|
|
|
|
|
|
Merchant Services |
|
103.3 |
+117.8 |
-2.1 |
219.0 |
Terminals, Solutions & Services |
|
0.0 |
+162.0 |
-5.0 |
157.0 |
Financial Services |
|
130.9 |
- |
-1.0 |
130.0 |
Mobility & e-Transactional Services |
|
23.0 |
- |
- |
22.9 |
Corporate costs |
|
-10.9 |
-16.7 |
- |
-27.6 |
|
|
|
|
|
|
Worldline |
|
246.3 |
+263.1 |
-8.2 |
501.2 |
* at constant scope and June 2021 YTD average
exchange rates** at June 2020 YTD average exchange rates
Scope effects are related to the consolidation
of Ingenico, and to a lesser extent of GoPay. Exchanges rates
effect is due to the Euro appreciation versus most of international
currencies.
Conference call
The Management of Worldline invites you to an
international conference call on the Group first semester revenue,
on Tuesday, July 27, 2021 at 8:00 am (CEST – Paris).
You can join the webcast of the conference:
- on worldline.com, in the Investors
section
- through this link :
https://edge.media-server.com/mmc/p/7ojw7wqy
- by telephone with the dial-in:
United Kingdom (Local): |
+44 (0) 8444 819 752 |
|
France (Local): |
+33 (0)1 70 70 07 81 |
|
Germany (Local): |
+49 (0)69 2222 2625 |
|
United States, New York (Local): |
+1-646-741-3167 |
|
Standard international: |
+44 (0)20 7192 8338 |
|
|
|
Confirmation Code: 8934748
After the conference, a replay of the webcast will
be available on worldline.com, in the Investors section.
Forthcoming
events
- October 26,
2021 Q3 2021
revenue
- October 27,
2021 Investor
day
Contacts
Investor
Relations
Laurent Marie+33 7 84 50 18
90laurent.marie@worldline.com
Benoit d’Amécourt+33 6 75 51 41
47benoit.damecourt@worldline.com
Communication
Sandrine van der Ghinst+32 499 585
380sandrine.vanderghinst@worldline.com
Hélène Carlander+33 7 72 25 96
04helene.carlander@worldline.com
About
Worldline
Worldline [Euronext: WLN] is the European leader
in the payments and transactional services industry and #4 player
worldwide. With its global reach and its commitment to innovation,
Worldline is the technology partner of choice for merchants, banks
and third-party acquirers as well as public transport operators,
government agencies and industrial companies in all sectors.
Powered by over 20,000 employees in more than 50 countries,
Worldline provides its clients with sustainable, trusted and secure
solutions across the payment value chain, fostering their business
growth wherever they are. Services offered by Worldline in the
areas of Merchant Services; Terminals, Solutions & Services;
Financial Services and Mobility & e-Transactional Services
include domestic and cross-border commercial acquiring, both
in-store and online, highly-secure payment transaction processing,
a broad portfolio of payment terminals as well as e-ticketing and
digital services in the industrial environment. In 2020 Worldline
generated a proforma revenue of 4.8 billion euros.
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.
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 2020
Universal Registration Document filed with the Autorité des marchés
financiers (AMF) on April 13, 2021 under the filling number:
D.21-0303.
Revenue organic growth and Operating Margin
before Depreciation and Amortization (OMDA) improvement are
presented at constant scope and exchange rate. OMDA is presented as
defined in the 2019 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. 2021
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.
- Worldline - H1 2021 Results - Press release
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