European payments giant Worldline Group reported first-quarter revenue slightly above market expectations on Tuesday, driven by a return to growth in its merchant services business since late 2024. The company also reaffirmed its full-year performance targets.
Excluding all divested businesses, the group's first-quarter revenue reached €831 million, representing an organic decline of 0.5% year-on-year, yet surpassing the average analyst forecast of €826 million. On a reported basis, group revenue was €924 million, down 1.5% compared to the same period last year.
The core merchant services business recorded revenue of €652 million, achieving organic growth of 1.6% year-on-year. This marks the first positive growth since the fourth quarter of 2024 and exceeded market expectations of €641 million. The company's Chief Executive Officer stated this confirms Worldline is moving in the right direction. Driven by both in-store and online channels, acquired merchant sales volume for this segment grew by 3.5%.
The financial services division continued to be impacted by previously lost and terminated contracts, with revenue of €179 million, reflecting an organic decline of 7.4%. However, the commercial momentum in this unit remained stable, with incremental revenue expected to gradually materialize starting from the second half of 2026.
Worldline also announced the sale of its 51% stake in the Australian ANZ Worldline Payment Solutions joint venture to its partner, ANZ Bank, valuing the entire business at approximately €107 million. The sale of its New Zealand operations to Cuscal is also under negotiation. The completion of these transactions will finalize the company's strategic shift to exit the Pacific region and fully focus on its European payments business. The combined divestment program is expected to generate net cash proceeds between €590 million and €640 million within the year.
With no material impact from the geopolitical environment on the first quarter, Worldline confirmed its full-year guidance: it expects low single-digit organic revenue growth and an adjusted EBITDA between €630 million and €650 million. The company stated that its "North Star 2030" transformation plan is progressing as scheduled.
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