Worldline governance evolution and Trading Update

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)

Investors 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.