Payment group Worldline's Q2 revenue up 9%, boost from merchant business (updated)

Activision Blizzard

26/07/2023 08:15

(Adds details, context, CEO quote, shares move)
       July 26 (Reuters) - French payment company Worldline
 WLN.PA  on Wednesday confirmed its full-year targets after
reporting a 9.4% rise in second-quarter revenue as it managed to
win thousands of businesses as new customers, boosting its
shares as much as 4.5%. 
    The group, which processes digital payments for clients
ranging from merchants to government agencies, generated sales
of 1.17 billion euros ($1.29 billion) in the April-June period.
    Revenue at its merchant services segment, accounting for 73%
of group revenue, grew 13.5%, the seventh consecutive quarter of
double-digit growth.
    The payment firm won more than 40,000 merchants since the
beginning of the year, counting 1.4 million in total at
end-June, it said in a presentation. Video game groups Blizzard
 ATVI.O  and Valve, and camping group Camping Vision were among
the new customers in the second quarter. 
    The group, which is in exclusive discussions with Credit
Agricole  CAGR.PA  about setting up a new payment service for
businesses and its customers, said it was on-tracks for signing
a deal in the third quarter and closing the transaction in the
fourth quarter. 
    Free cash flow from continued operations grew 0.8% in the
January-June period to 232 million euros, net debt stood at 1.84
billion euros at end-June.
    Worldline confirmed its targets of 8-10% organic revenue
growth this year and its margin before depreciation and
amortization (OMDA) to improve more than 100 basispoints versus
last year's on a pro forma basis. 
    Worldline's shares were up 3.9% at 35.86 euros at 0712 GMT,
on top of the French blue-chip index CAC40.

($1 = 0.9054 euros)

 (Reporting by Lina Golovnya, Edited by Kirsti Knolle)
 ((Lina.Golovnya@thomsonreuters.com;))