Worldline SA

WLN: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€93.00	Nhwvry	Jfhjsjgk

Worldline: Another Guidance Cut; CEO Steps Down

Niklas Kammer

Sep 16, 2024

We cut our fair value estimate for Worldline to EUR 22.00 from EUR 28.90 per share after the company issued a profit warning. New guidance now sits at 1% organic growth for 2024, adjusted EBITDA of EUR 1.1 billion, and free cash flow of EUR 0.2 billion. This has been the third revision downward of revenue guidance (previously between 2% and 3% organically) in just a year. Worldline’s press release points toward “slow trading conditions coupled with specific performance issues in [its] Pacific business and some global online verticals.” The payment provider also announced the departure of CEO Gilles Grapinet at the end of September 2024.

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