Worldline Sa · EURONEXT:WLN
Worldline Sa — Worldline Sa Ord — H1 2025 Earnings Presentation
29 slides from Worldline Sa's earnings presentation, Jul 30, 2025
Slide 1: H1 2025 Results
H1 2025 RESULTS July 30th, 2025
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group's expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These r
Slide 3: Opening Remarks
Opening Remarks Pierre-Antoine Vacheron Group CEO
Slide 4: H1 2025 reflecting current challenges
H1 2025 REFLECTING CURRENT CHALLENGES €2,205m revenues €401m adj. EBITDA €40m free cash-flow (3.4)% organic growth 18.2% adj. EBITDA margin 9.9% of adj. EBITDA (7.3%) organic growth on NNR basis* 22.9% margin on NNR basis including €62m of non-recurring strategic costs €121m net income €0.43 diluted
Slide 5: H1 2025 Highlights
H1 2025 HIGHLIGHTS Taking actions: laying the groundwork for the recovery H1’25 highlights IMMEDIATE ACTIONS ON SOLID TRANSFORMING INITIAL FINDINGS GROUNDWORK WORLDLINE Deliver projects Portfolio pruning in execution Strengthened management team with proven transformation skills Stabilize customer b
Slide 6: HBR portfolio - strong commitment to robustness
HBR PORTFOLIO - STRONG COMMITMENT TO ROBUSTNESS Two external firms engaged to assess risk framework and audit on remaining HBR portfolio ACCURACY OLIVER WYMAN Audit process on-going Audit initiated in July 2025 Overall assessment of compliance and risk framework Analysis on the remaining High Brand
Slide 7: Divestment of MeTS activities
DIVESTMENT OF MeTS ACTIVITIES Major step in our simplification journey: entry into exclusive negotiations with Magellan Partners regarding the divestment of our digital, mobility and e-transactional services activities after a competitive process Refocus c.€410m on core payment activities Enterprise
Slide 8: A renewed management team to drive transformation
A RENEWED MANAGEMENT TEAM TO DRIVE TRANSFORMATION Chief Executive Officer (CEO) Pierre-Antoine Vacheron Head of Transformation office Renewed Maelle Lafont de Sentenac leadership team Since July 1st, 2025 Head of Merchant Services Chief Financial Officer Chief Technology Officer Paul Marriott-Clarke
Slide 9: Focus on Q2'25 financials
Focus on Q2’25 financials Pierre-Antoine Vacheron Group CEO
Slide 10: Q2'25 external revenue overview
Q2’25 EXTERNAL REVENUE OVERVIEW Q2 2025 Group Revenue Organic growth Organic growth (in €m) Q2 2025 Q2 2024* (Published Revenue) (NNR) Merchant services 841 870 (3.4%) (7.3%) Financial services 206 230 (10.6%) (10.6%) MeTS 91 89 +2.1% +1.8% Worldline 1,137 1,190 (4.4%) (7.3%) *at 2024 constant scope
Slide 11: Merchant Services: €841m revenues
MERCHANT SERVICES Q2’25 highlights €841m revenues (3.4%) organic growth / (0.3%) excl. Merchant termination and hardware base effect Revenue reached €841 million, a (3.4%) organic growth Commercial wins / upsells ▪ Enterprise: still weak performance in terminals, but a stabilized acquiring business.
Slide 12: Financial Services: €206m revenues
FINANCIAL SERVICES Q2’25 highlights €206m revenues (10.6%) organic growth / (4.1%) excl. contract re-insourcing effect Revenue reached € 206 million, a (10,6%) organic growth. Performance impacted by effect of Commercial wins / upsells the re-insourcing process, and mostly impacting Account Payments
Slide 13: Mobility & e-Transactional Services: €91m revenues
MOBILITY & E-TRANSACTIONAL SERVICES Q2’25 highlights €91m revenues 2.1% organic growth Revenue reached € 91 million, up +2.1%. Commercial wins / upsells ▪ Transport & Mobility: steady performance driven by higher volumes and incremental Mobile ticketing solutions, growth in France through new mobili
Slide 14: H1'25 Financial Highlights
H1’25 Financial Highlights Grégory Lambertie Group CFO
Slide 15: Strong management actions on costs & liquidity
STRONG MANAGEMENT ACTIONS ON COSTS & LIQUIDITY costs management priority and full execution of Power24* with initial benefits P&L costs containment Capex prioritization Active liquidity management : Subcontractor costs : People costs (16)% €1.0bn +€34m -€34m €1.0bn €160m c.€1.17bn (7.0% of revs) €13
Slide 16: H1 2025 financial performance
H1 2025 FINANCIAL PERFORMANCE global business lines revenue overview H1 2025 Group Revenue Organic growth Organic growth (in €m) H1 2025 H1 2024* (Published Revenue) (NNR) Merchant services 1,617 1,655 (2.3%) (5.5%) Financial services 410 454 (9.8%) (9.7%) MeTS 178 174 +2.1% +2.0% Worldline 2,205 2,
Slide 17: Income statement
INCOME STATEMENT In €m H1’25 H1’24 Highlights Adjusted EBITDA 401 514 Integration and rationalization costs (excl. Power24) (61) (58) ▪ Operating income mainly impacted by: o €16m Power24 costs while non-P24 integration and Power24 (16) (174)* rationalization costs are stable to €61m EBITDA 324 282
Slide 18: Free cash flow
FREE CASH FLOW In €m H1’25 H1’24 Highlights Adjusted EBITDA 401 514 ▪ €401m contribution on adjusted EBITDA Lease obligations (68) (60) ▪ Capex representing €135m down by €25m compared Working capital change 25 (42) to H1’24 and representing 6.1% of revenues Capex (135) (160) ▪ Working capital chang
Slide 19: Net debt evolution
NET DEBT EVOLUTION In €m H1’25 H1’24 Highlights ▪ €40m positive impact from free cash-flow (Net debt) / cash* as of January 1st (2,012) (2,156) ▪ €19m decrease in lease liabilities mainly driven by Free Cash-flow 40 82 fewer major leases signed in real estate ▪ €135m Acquisition net of disposal main
Slide 20: Outlook 2025 & Key take-aways
Outlook 2025 & Key take-aways Pierre-Antoine Vacheron Group CEO
Slide 21: Outlook 2025
OUTLOOK 2025 FY’25 guidance* Organic growth Low-single digit percentage decline in FY25 organic revenue Adjusted EBITDA €825-875m adjusted EBITDA FCF Neutral FCF at mid-point of EBITDA guidance * FY'25 guidance at current scope including MeTS H1 2025 results | 30-07-2025 | © Worldline | 21
Slide 22: Management in action to unlock Worldline's potential
MANAGEMENT IN ACTION TO UNLOCK WORLDLINE'S POTENTIAL Fixing the challenges impacting short term performance Significant milestones in laying the groundwork Leverage a renewed team to drive transformation Capital Markets Day confirmed in Paris on November 6th, 2025 H1 2025 results | 30-07-2025 | © Wo
Slide 23: Q&A
Q&A WORLDLINE sW/.
Slide 24: Appendices
Appendices WORLDLINE We,
Slide 25: Q2'25 acquiring MSV development
Q2’25 ACQUIRING MSV DEVELOPMENT c.€145bn MSV in Q2’25 ACQUIRING MSV (€M)* (acquiring instore and online) c.+2.6% in Q2’25 MSV growth vs Q2’24 c.€280bn MSV in H1’25 2023 2024 2025 * Rolling 3-week average transaction volumes in euro millions on acquiring activities H1 2025 results | 30-07-2025 | © Wo
Slide 26: NR to NNR bridge and impacts on adjusted EBITDA
NR TO NNR BRIDGE AND IMPACTS ON ADJUSTED EBITDA Revenue Schemes Schemes Q2 2025 & Q2 2025 Q2 2024 & Q2 2024 OG% Q2 OG% Q2 In € million Published Partners Net Net Published* Partners Net Net Published Net Net fees fees Merchant Services 841 (236) 604 871 (218) 652 -3.4% -7.3% Financial Services 206 (
Slide 27: Adjusted EBITDA to EBITDA reconciliation
ADJUSTED EBITDA TO EBITDA RECONCILIATION 6 months ended 6 months ended (In € million) Change June 30, 2025 June 30, 2024 Operating margin 208 343 (135) + Depreciation of fixed assets 183 163 21 + Net book value of assets sold/written off 1 4 (3) +/- Net charge/(release) of pension provisions 3 5 (2)
Slide 28: Net income to normalized net income reconciliation
NET INCOME TO NORMALIZED NET INCOME RECONCILIATION 6 months ended 6 months ended (In € million) June 30, 2025 June 30, 2024 Net income - Attributable to owners of the parent (4 218) (29) Other operating income and expenses (Group share) 4 239 320 Financial loss on fair value of preferred shares (Gro
Slide 29: Thank you
THANK YOU For more information, please contact: Laurent Marie Group Head of Investor Relations laurent.marie@worldline.com Peter Farren Investor Relations Manager peter.farren@worldline.com