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Worldline (BBB-) Q1 Revenue Ahead Of Consensus

TECHNOLOGY


  • Q1 rev came in close to 2% ahead of company-provided consensus; organic growth of +2.5% came against consensus of +0.7% with ahead of consensus org growth in two largest segments of Merchant (+3.9% vs. consensus +1.3%) & Financial (-1.4% vs. consensus -1.8%) Services.
  • FY24 guidance confirmed; flag softer growth in H1 due to merchants’ termination impact (org growth would have been +6.5% for Merchant Services without this impact).
  • Early streaming shows bonds 2-4bps wider.

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