February 28 (Reuters) – Worldline reported on Wednesday a 6% increase in its annual turnover, indicating however that the group’s net profit had fallen due to an impairment for goodwill. ) worth 1.15 billion euros linked to its merchant services activities.
The payment specialist indicated that the group’s net loss stood at 817 million euros in 2023, after a profit of 221 million euros the previous year.
The company indicated that the depreciation for goodwill which affected the group’s net profit reflected “the change in industry valuations”.
This depreciation is “totally (linked) to (…) the evolution of sector values and the stricter application to technical parameters in the accounting and non-cash valuation of our assets”, explained the financial director of Worldline , Grégory Lambertie during a conference call with journalists.
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Grégory Lambertie added that “the group’s net profit (was) relatively stable in comparison with 2022”.
Worldline’s stock fell by more than 50% in October after the group announced a cost reduction plan in the face of deteriorating economic conditions.
The company reported that its turnover stood at 4.61 million euros in 2023, a result in line with expectations, according to a consensus compiled by the company. (Report Augustin Turpin; French version Camille Raynaud)
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