Worldline cuts revenue growth forecast as bank contract delays slow recovery

By Gianluca Lo Nostro

July 30 (Reuters) - French integer payments radical Worldline lowered its 2026 gross maturation expectations connected Thursday, saying a betterment successful ‌new concern had taken longer than expected arsenic banks delayed awarding contracts ‌following the company's caller setbacks.

Worldline present expects level to marginally affirmative gross maturation successful 2026, compared with ​its erstwhile forecast for debased single-digit growth.

Second-quarter gross was level year-on-year aft 7 consecutive quarters of contraction.

Chief Executive Pierre-Antoine Vacheron said the betterment successful commercialized enactment and gross designation had been slower than anticipated due to the fact that immoderate banking clients took longer to perpetrate ‌to caller concern with the ⁠company.

"For 1 precise elemental reason, which is that determination person been delays successful the determination of the banks to allocate caller ⁠contracts to Worldline due to the fact that of what we've been going done successful 2025, which led the banks to question," Vacheron told reporters.

He said Worldline was present emerging from that signifier ​and expected ​the 2nd fractional to beryllium "a spot better" ​than the first, helped by ‌continued momentum successful its merchant services business.

The institution has not delivered integrated gross maturation since precocious 2024 aft setbacks including allegations of wealth laundering and a bid of nett warnings triggered important lawsuit losses and a slump successful its stock price.

Backed by large shareholders Credit Agricole, BNP Paribas and French authorities concern slope Bpifrance, Worldline ‌has been trying to rebuild capitalist assurance pursuing ​a 500 cardinal euro ($576 million) superior injection and ​asset disposals.

Revenue successful the six ​months to June fell 0.2% to 1.74 cardinal euros, broadly successful ‌line with analysts' expectations of 1.72 ​billion euros successful a ​company-compiled poll.

Adjusted EBITDA reached 294 cardinal euros, up of analysts' mean estimation of 273 cardinal euros.

Worldline confirmed its full-year EBITDA outlook and improved its ​free currency travel people to ‌a antagonistic scope of 60 cardinal euros to 40 cardinal euros, from ​a erstwhile antagonistic scope of 80 cardinal euros to 70 cardinal ​euros.

($1 = 0.8681 euros)

(Reporting by Gianluca Lo Nostro)