Worldline Sa · EURONEXT:WLN
Worldline Sa — H1 2014 Earnings Presentation
25 slides from Worldline Sa's earnings presentation, Jul 28, 2014
Slide 1: Financial Communication 28 July 2014
FINANCIAL COMMUNICATION 28 July 2014
Slide 2: Disclaimer
Disclaimer • This document contains further forward-looking statements that involve risks and uncertainties concerning the Group's expected growth and profitability in the future. Actual events or results may differ from those described in this document due to a number of risks and uncertainties tha
Slide 3: Highlights
Highlights Gilles Grapinet, CEO worldline
Slide 4: Key figures
Key figures €556.4m 17.8% +2.2% organic €99.1m Revenue OMDA (*) €57.4m €145.9m (**) Free cash flow Net cash (*): Operating Margin before Depreciation & Amortization. (**) : Including €248.5m of IPO net proceeds received on July 1, 2014 3
Slide 5: Successful IPO of Worldline
Successful IPO of Worldline Completed Introduction Final size according price at of the offering to the initial € 16.40 € 639 planning per share million* Market Worldline € 384 cap. of raised million* c.€ 2.16 € 255 of shares sold billion million by Atos SE * After exercise of 74.6% of the over-allo
Slide 6: Key achievements in H1 2014
Key achievements in H1 2014 Alliances and partnerships Products and offerings • Following KBC last year, commercial acquiring • Payment terminals: new product range alliance with a large bank in Benelux fully ready; new distribution agreements • Acceptance of JCB and China Union Pay Cards in place i
Slide 7: 2014 objectives
2014 objectives 2014 Guidance Revenues 3 to 4% organic growth +c.50 bps margin OMDA for 2014 vs. 2013 FCF c.€110m 6
Slide 8: H1 2014 Financial Performance
H1 2014 Financial Performance Bruno Vaffier, CFO worldline
Slide 9: Constant scope and exchange rate figures reconciliation
Constant scope and exchange rate figures reconciliation Registration Document « Proforma Accounts » Exchange Change H1 2013 Scope Proforma H1 2013 H1 2014 in € million rates vs last combined effect effects PF CS actuals effect year Revenue 556.3 -4.9 -7.2 544.2 556.4 2.2% OMDA 96.0 0.1 0.1 -1.2 95.0
Slide 10: Performance per GBL
Performance per GBL Revenue OMDA OMDA % In € million H1 2014 H1 2013* % Growth H1 2014 H1 2013* H1 2014 H1 2013* Merchant Services and Terminals 182.0 180.1 1.0% 38.2 36.2 21.0% 20.1% Financial Processing and Software Licensing 193.0 185.1 4.3% 45.7 39.0 23.7% 21.1% Mobility and e-Transactional Serv
Slide 11: Merchant Services & Terminals
Merchant Services & Terminals Merchant Services and Terminals H1 2014 H1 2013* Change Revenue 182.0 180.1 1.0% OMDA 38.2 36.2 OMDA% 21.0% 20.1% +90 bp * Proforma at constant scope and exchange rates Key facts • Continuous positive trends in Commercial Acquiring, Online Services and Private Label Car
Slide 12: Financial Processing & Software Licensing
Financial Processing & Software Licensing Financial Processing and Software Licensing H1 2014 H1 2013* Change Revenue 193.0 185.1 4.3% OMDA 45.7 39.0 OMDA% 23.7% 21.1% +260 bp * Proforma at constant scope and exchange rates Key facts • Main growth driver was Online Banking, with fast growing volume
Slide 13: Mobility & e-Transactional Services
Mobility & e-Transactional Services Mobility and e-Transactional Services H1 2014 H1 2013* Change Revenue 181.4 179.0 1.4% OMDA 22.5 28.4 OMDA% 12.4% 15.9% -350 bp * Proforma at constant scope and exchange rates Key facts • Continued growth in e-Ticketing, thanks to satisfactory trends in transport
Slide 14: Income statement
Income statement In EUR million H1 2014 H1 2013 Key Observations OMDA 99.1 96.0 • Rationalization expenses Operating Margin 80.0 78.3 include set-up costs of the Team program Staff reorganization -1.6 -1.2 Rationalization and associated costs -3.1 -0.4 • Others include in 2013 Integration & acquisit
Slide 15: Cash flow statement
Cash flow statement In EUR million H1 2014 H1 2013 OMDA* 99.1 96.0 Key Observations Capital Expenditures -31.0 -29.7 • Capex is in line with Change in working capital requirement 22.6 5.5 the investment plan Cash from operations 90.7 71.8 for the year. Taxes paid -22.1 -15.8 Net costs of financial d
Slide 16: Simplified balance sheet
Simplified balance sheet June 30, December 31, June 30, In EUR million 2014 2013 2013 Key Observations Goodwill 370.7 368.9 373.3 Intangible assets 89.6 76.6 66.0 (*) IPO proceeds Tangible assets 73.0 77.3 80.1 are accounted for as Net non-current financial assets 4.7 6.9 6.6 other current assets Ne
Slide 17: Business Highlights & innovation
Business Highlights& innovation Marc-Henri Desportes, General Manager worldline
Slide 18: Merchant Services & Terminals: Selected wins
Merchant Services & Terminals Business Highlights Action plan & operational objectives Key achievements • Alliance with a large bank in Benelux • Restobox solution launch for Restaurants and Cafés • > 3000 mPOS rolled-out in Benelux • SOFORT on SIPS & Yapital support at mPOS in Germany Market highli
Slide 19: Financial Processing & Licensing: Selected wins
Financial Processing & Licensing Business Highlights Action plan & operational objectives Key achievements • WIPE program is established and further projects are moving into production • Central Wallet platform is now active for 20 bankswith over 300,000 active users • Pilots of Hosted Card Emulatio
Slide 20: Mobility & e-Transactional Services: Selected wins
Mobility & e-Transactional Services Business Highlights Action plan & operational objectives Key achievements • Sales synergy with Atos driving new business on Worldline Connected Living platform • Integrale, new product for UK transport industry is now live • Partnership with Here in Connected Vehi
Slide 21: Innovation
Innovation Wallet/Future of payment Data analytics Launched research program with • Designed Hosted Card Emulation partners to : payment solution, compliant with Visa and MC, won award at Payforum 2014 • Enhance scalability and dynamic in Paris, patent submitted features of fraud management solution
Slide 22: Conclusion
Conclusion Gilles Grapinet, CEO worldline
Slide 23: Worldline vision of change in the payment industry
Worldline vision of change in the payment industry Payment regulations • SEPA adoption (Aug-14) • Visa Europe/EU settlement on cross border interchange fees (Feb-14) • PSD2 draft proposal (Jul-13) Digitization/Mobile/ Changing banking landscape Connectivity revolution • Basel 3 implementation in the
Slide 24: Key takeaways
Key takeaways H1 figures in line to reach full year objectives Acceleration of commercial activity during the semester IPO process closed and management attention focused on growing the business organically and via M&A Worldline, as a public company, starts benefiting from increased visibility and b
Slide 25: Q&A session
O&A session Management team worldline