Worldline sees revenue rise of 10.7% in 2022 to €4.36 billion

Worldline today posted its results for the fourth quarter and the full year 2022. The France-headquartered payment services provider saw a strong results for the final quarter and exceeded its expectations.

Q4 results

The company reported €1.19 billion in revenue for the last three months of 2022, seeing an 8.3% growth compared to the previous year. Merchant services brought in €835 million, registering a 10.3% increase from the previous year. Financial Services accounted for €260 million, with a 2.9% rise from Q4 2021. Revenue from Mobility & e-Transactional Services reached €92 million, up by 7% YoY.


2022 figures

Worldline’s revenue for the full year came in at €4.36 billion, registering a 10.7% rise compared to 2021. Moreover, the number exceeded the expectation of 8 to 10% growth. The payments firm’s operating margin before depreciation and amortization (OMDA) stood at €1.13 billion, accounting for 26% of the revenue.

Net income Group share from continued operations in 2022 was €211 million, up by 10.3%. Normalized net income Group share (excluding unusual and infrequent items, net of tax) for the period reached €545 million, registering a 23.8% rise. Normalized basic EPS increased 23.4% to €1.94, while the diluted figure rose 22.9% to €1.88.

The French group’s free cash flow jumped by 25.5% during last year, reaching €520 million.

Gilles Grapinet, CEO of Worldline, said:

Our particularly strong revenue growth and commercial momentum clearly demonstrate the full benefit of Ingenico combination, despite us being only half-way through our four-year integration plan. It also highlights improvement of our profitability rate and solid free cash flow generation, despite the inflationary environment.

In parallel to this strong operational performance, we executed our strategic roadmap with the disposal of TSS, simplifying our group structure and significantly deleveraging our balance sheet. We also continued to actively participate to the European market consolidation and to expand our Merchant Services business in attractive geographies. In line with our product strategy, we further enriched the Worldline value proposition through targeted acquisitions of technological companies on the marketplaces vertical and the micro-merchant segment.

For 2023, the group expects revenue growth of 8 to 10% and 100 bps OMDA margin improvement compared to 2022.

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