Latest news with #MagellanPartners
CNA
30-07-2025
- Business
- CNA
Wordline forecasts decline in 2025 organic revenue
Worldline expects a low single-digit percentage decline in organic revenue during 2025 following a "challenging" first half, the French digital payments company said on Wednesday. The Paris-based company guided towards adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of between 825 and 875 million euro ($1 billion) this year. "There is work to be done over several quarters before returning to a level of growth consistent with the market," CEO Pierre-Antoine Vacheron said in a call with reporters. Worldline postponed its yearly guidance in April amid a strategic overhaul initiated following the appointment of Vacheron in May. In February, it had forecast similar revenue growth in 2025 to the year before. The group's shares lost over a third of their value in a single day in June, after a group of 21 European media outlets alleged that Worldline covered up client fraud to protect revenue. Its shares hit a low of 2.70 euros before recovering partially, closing at 3.57 euros on Tuesday, valuing the business at 1 billion euros. Belgian prosecutors opened an investigation in June into potential money laundering activities at its Belgian unit. Worldline hired auditing firm Accuracy in July to assess its remaining portfolio of merchants engaged in "risky" activities. The company said on Wednesday that preliminary findings from that review suggest no "material" need for more client relationships to be terminated. Half-year revenue fell 3.4 per cent to 2.20 billion euro, slightly below the 2.22 billion euro projected in a company-compiled analyst poll. The performance reflects the challenges encountered over the last months, the company said. On Tuesday, Worldline announced the sale of its mobility & e-transactional services business to Magellan Partners in a deal valued at up to 410 million euro. The company also announced that Srikanth Seshadri will become its new Chief Financial Officer on September 8, replacing Gregory Lambertie. ($1 = 0.8663 euros)
Finextra
30-07-2025
- Business
- Finextra
Worldline in talks to sell non-payments unit
French payments processor Worldline has entered exclusive talks over selling its digital services business to tech group Magellan Partners in a €410 million deal. 0 Worldline says it is considering divesting some assets as part of a "strategic refocus". In June, the firm's share price cratered after multiple media outlets alleged that it had covered up client fraud to protect revenue. The carve-out would cover the Mobility & e-Transactional Services (MeTS) business line as well as some digital banking operations that mostly operate outside of the core payments work. This so called MeTS Perimeter accounted for about €450 million in turnover in 2024 and includes 3800 employees, mainly located in France, UK, Spain, Germany, Austria, Belgium and India. Magellan Partners has made a binding offer with an upfront enterprise value of €400 million plus an additional contingent consideration of €10 million based on the 2025 operating performance. Worldline says a deal would help it simplify operations and focus on core payment activities for merchants and financial institutions. Pierre-Antoine Vacheron, CEO, Worldline, says: 'We are embarking on a pivotal transformative chapter for Worldline that goes through increased focus on our core activities. The contemplated transaction is a first step in this journey and affirms our strategic confidence in our payments expertise while empowering MeTS to accelerate its digital transformation as an independent leader."
Bloomberg
29-07-2025
- Business
- Bloomberg
Worldline Seeks to Sell Unit to Focus Business After Stock Crash
Worldline SA entered into talks to sell its digital-services unit as the French payments company seeks to focus its activities after its stock collapsed following media reports alleging that it turned a blind eye to fraud. The firm 'entered into exclusive negotiations' with Magellan Partners after receiving a binding offer that values the Mobility & e-Transactional Services business at €410 million ($473.6 million), according to a statement Tuesday. The unit has about 3,800 employees.
