Worldline SA
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€51.00 | Jkbphk | Wxpgnwhbr |
Worldline Reports a Good Set of Revenue Figures in Line With Expectations; Shares Cheap
Narrow-moat Worldline reported a strong set of revenue figures for the first quarter of 2022. On an organic basis, revenue grew 11.6% to EUR 939 million carried by its merchant services segment. Transaction volumes in the first quarter were 36% ahead of last year and 27% ahead of 2019. In-store and online volumes grew 37% and 32%, respectively. Both figures are strong and in direct conflict with the idea that Worldline is losing market share to e-commerce-focused payment services providers. Management also reiterated its full-year guidance of 8% to 10% organic revenue growth despite international travel still lagging 2019 levels.