Worldline Sa · EURONEXT:WLN
Worldline Sa — FY2014 Earnings Presentation
28 slides from Worldline Sa's earnings presentation, February 2015
Slide 1: Third Quarter 2014
Third Quarter 2014 Thursday, November 6 2014
Slide 2: Disclaimer
Disclaimer ● This document contains further forward-looking statements that involve risks and uncertainties concerning the Group's expected growth and profitability in the future. Actual events or results may differ from those described in this document due to a number of risks and uncertainties tha
Slide 3: Executing the IPO roadmap
Executing the IPO roadmap Gilles Grapinet, Chief Executive Officer Financial communication worldline
Slide 4: 2014 key figures delivered
2014 key figures delivered €1,149.3m €215.1m +2.8% organic 18.7% Q4 organic growth: +4.0% +50 bp as planned Revenue OMDA (*) €114.4m €203.1m €100.4m > c.€110m objective Free cash flow Net cash Net income 2014 qualified as estimates under R. AMF 2004-04 (*): Operating Margin before Depreciation & Amo
Slide 5: 2014: a milestone in Worldline's history
2014: a milestone in Worldline’s history
Slide 6: 2014: Stronger visibility and brand recognition in the industry
2014: Stronger visibility and brand recognition in the industry Stock coverage initiated by a significant number of financial analysts Recognition of Worldline competences by major industry analysts (Ovum, Forrester…) Awards received for innovative products: “Best stand alone banking app” (*), “Secu
Slide 7: Third Quarter 2014
Third Quarter 2014 Thursday, November 6 2014
Slide 8: Constant scope and exchange rate figures reconciliation
Constant scope and exchange rate figures reconciliation Registration Document « Pro forma Accounts » FY 2013 Scope Proforma Exchange In € million statutory FY 2013* FY 2014 Var effect effects rates effect (combined) Revenue 1,135.1 -9.8 -7.1 1,118.2 1,149.3 2.8% OMDA 203.2 0.5 0.6 -1.2 203.1 215.1 O
Slide 9: Performance per GBL
Performance per GBL Revenue OMDA OMDA % In € million FY 2014 FY 2013* % Growth FY 2014 FY 2013* FY 2014 FY 2013* Merchant Services & Terminals 373.8 366.4 +2.0% 80.8 77.4 21.6% 21.1% Financial Processing & Software Licensing 396.1 390.7 +1.4% 99.6 91.1 25.2% 23.3% Mobility & e-Transactional Services
Slide 10: Merchant Services & Terminals
Merchant Services & Terminals Merchant Services & Terminals In € million FY 2014 FY 2013* Change Revenue 373.8 366.4 +2.0% OMDA 80.8 77.4 OMDA% 21.6% 21.1% +0.5pt * Proforma at Constant Scope and exchange rates Key facts • Robust volume growth in Commercial Acquiring, Private Label Cards & Loyalty S
Slide 11: Financial Processing & Software Licensing
Financial Processing & Software Licensing Financial processing & Software Licensing In € million FY 2014 FY 2013* Change Revenue 396.1 390.7 +1.4% OMDA 99.6 91.1 OMDA% 25.2% 23.3% +1.9pt * Proforma at Constant Scope and exchange rates Key facts • Main growth driver was Online Banking, with fast grow
Slide 12: Mobility & e-Transactional Services
Mobility & e-Transactional Services Mobility & e-Transactional Services In € million FY 2014 FY 2013* Change Revenue 379.4 361.2 +5.1% OMDA 51.9 52.2 OMDA% 13.7% 14.4% -0.7pt * Proforma at Constant Scope and exchange rates Key facts • Continued growth in e-Ticketing, thanks to satisfactory trends in
Slide 13: Income statement
Income statement In € million 2014 2013 Key Observations OMDA 215.1 203.2 • Rationalization expenses Operating Margin 170.3 164.0 include costs relating to Staff reorganization -3.4 -3.7 the initiation of the TEAM Rationalization and associated costs -8.7 -0.8 program Integration & acquisition costs
Slide 14: Cash flow statement
Cash flow statement (in EUR million) 2014 2013 Key Observations Operating Margin before Depreciation and 215.1 203.2 Amortization (OMDA) • Capex is broadly in line Capital expenditures -68.9 -61.7 with the multi-year Change in working c apital requirement 22.8 16.1 investment plan. Cash from operati
Slide 15: FY 2014 Cash flow and net cash position
FY 2014 Cash flow and net cash position 2014 qualified as estimates under R. AMF 2004-04 15
Slide 16: Simplified balance sheet
Simplified balance sheet December December In EUR million 31, 2014 31, 2013 Key Observations Goodwill 374.8 368.9 Intangible assets 105.0 76.6 • Goodwill mainly Tangible assets 72.6 77.3 derives from the Net non-current financial assets 9.0 6.9 acquisition of Net deferred tax assets 47.3 43.3 Banksy
Slide 17: Third Quarter 2014
Third Quarter 2014 Thursday, November 6 2014
Slide 18: 2014: rapid growth of new payment means
2014: rapid growth of new payment means +6% +11% Steady rise Number of in historical Number of commercial card payment issuing volumes acquiring transactions transactions Strong +135% 580,000 Number of active growth in new payment eSEPA wallets methods transactions +90% (H2 ’14 vs H2 ’13) (Q4 ’14 vs
Slide 19: Selected Q4: Merchant Services & Terminals
Merchant Services & Terminals Business Highlights Action plan & operational objectives Key achievements • Bundle online gateway + International acquiring with our 1 commercial acquiring services pushed payment institution license for mass market and key accounts 2 Vertical solutions • Integrated POS
Slide 20: Selected Q4: Financial Processing & Licensing
Financial Processing & Licensing Business Highlights Action plan & operational objectives Key achievements • Confirmation of the success of Worldline’s central platform for E- 1 Gain scale and unify platforms wallet services (> 500 thousand active wallets) in Europe with a centralised service centre
Slide 21: Selected Q4: Mobility & e-Transactional Services
Mobility & e-Transactional Services Business Highlights Action plan & operational objectives Key achievements Go to market Increase focus around end-to-end vertical • Worldline’s "Digital Safe 1 digital businesses Component“ receives NF Logiciel certification. 2 Development of Data Market Places • O
Slide 22: TEAM Program & WIPE in line with expectations
TEAM Program & WIPE in line with expectations Entire salesforce reorganized on key priorities Implementation of new trusted authentication Top Worldline 90 contracts reviewed to leverage the commercial footprint New bundle online gateway and commercial acquiring module Lean coverage increased by 9%
Slide 23: Key interlocking regulatory changes in Europe confirmed towards market transformation
Key interlocking regulatory changes in Europe confirmed towards market transformation A cap on interchange fee of credit and debit cards for internal market Interchange regulations to come are already fostering new projects MIF both for issuers and acquirer clients and our business Timeline : Fee
Slide 24: Third Quarter 2014
Third Quarter 2014 Thursday, November 6 2014
Slide 25: Key take aways
Key take aways 2014 results in line to achieve the 2017 ambition TEAM transformation program already delivering tangible results Acceleration in innovation and R&D planned in 2015 for next generation of payments Continued focus in 2015 to take advantage of the payment industry regulatory and consoli
Slide 26: Objectives 2015 in line
Objectives 2015 in line Revenue 4% to 5% organic growth OMDA +c.50 bp vs. 2014 Free € 120m to € 125m Cash Flow
Slide 27: Third Quarter 2014
Third Quarter 2014 Thursday, November 6 2014
Slide 28: Thanks
Thanks For more information please contact: David Pierre-Kahn Head of Investor Relations T +33 1 34 34 90 66 M+ 33 6 28 51 45 96 david.pierre-kahn@worldline.net