Worldline, a French fintech company, recently reported a loss for 2023 following an impairment charge of 1.15 billion euros in its core merchant-services business. This was attributed to factors such as inflation and high interest rates, which deterred many consumers from spending on nonessential items.
Financial Overview
- Net Loss: Worldline posted a net loss of EUR817 million for 2023, a significant drop from the profit of EUR211 million in 2022.
- Adjusted EBITDA: The company’s adjusted earnings before interest, taxes, depreciation, and amortization remained almost flat at EUR1.11 billion.
CEO Statement
Chief Executive Gilles Grapinet acknowledged the challenges faced by Worldline in the second half of the year. He highlighted the impact of a gradual macroeconomic slowdown and stricter regulations on online merchants as contributing factors to the financial results.
Revenue Growth
Despite the loss, Worldline reported a 6% organic increase in annual revenue, reaching EUR4.61 billion. In the fourth quarter, revenue saw a modest growth of 1.3% to EUR1.19 billion.
Outlook for 2024
Looking ahead, Worldline anticipates organic revenue growth of at least 3% in the upcoming year. The company aims to achieve an adjusted EBITDA of at least EUR1.17 billion as part of its 2024 forecast.
