Worldline's Q3 Revenue Soars 10% on Merchant Services Growth
Worldline, a global leader in payment services, has reported a robust 10% revenue growth in Q3 2022, reaching €1.16bn. The company's merchant services segment was a key driver, growing 13.6% to €828m. Despite this, Worldline's share price fell by around 2% post-earnings, likely due to unchanged guidance.
Worldline's merchant services growth was propelled by market share gains and volume growth, particularly in commercial acquiring and payment acceptance. The company bolstered its technology offerings for in-store and online merchants through strategic acquisitions. It acquired a 40% stake in Online Payment Platform B.V. and 55% of SoftPos.eu. Additionally, Worldline snapped up Invensity, Akera, and Bluestar, specializing in cloud solutions and embedded finance, in the last three months of 2022.
Worldline also divested parts of its business. In Q3, it sold 85% of its Terminals, Solutions and Services business to Apollo Funds, with the remaining 15% set to be sold on 1 January 2023. The company aims to focus on its core payment service offering following this sale.
Worldline maintained its full-year guidance, expecting revenue growth between 8% and 10% and a 1-1.5% improvement in its EBITDA margin. Despite a slight dip in share price, the company's strong performance in merchant services and strategic acquisitions position it well for future growth.
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