Worldline Sells Its New Zealand Operation to Cuscal for €17M
Worldline completed the sale of its New Zealand payment operations to Cuscal Limited on Friday for an enterprise value of approximately €17M. This transaction is part of the group's strategy to refocus on its European payment operations and optimize resource allocation.
Worldline's payment operation in New Zealand, which handled about 70% of all in-store transactions in the country and served the four major acquirers as well as around forty issuers, has been transferred to Cuscal Limited. This operation represented an estimated revenue of about €35M and an adjusted EBITDA of around €12M for Worldline. The impact on free cash flow (FCF) remains limited. Worldline will continue to provide technological and software services to Cuscal during a transition period to ensure continuity.
Part of the Group's Divestiture Plan
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This completion marks another step in the execution of Worldline's strategy to refocus the group on payment activities in Europe and streamline operations. This sale adds to transactions already completed involving Worldline North America, Cetrel, and PaymentIQ. The total arrangements announced (MeTS, Worldline North America, Cetrel, PaymentIQ, Worldline Merchant Services India, Worldline New Zealand, and Worldline Australia) are expected to generate estimated net cash proceeds between €590M and €640M, which will be received in 2026 according to the group. These resources are intended to strengthen Worldline's financial profile, increase its strategic flexibility, and support the redeployment of capital towards the core activity.
SectorServices financiers›Services de traitement des transactions
Context
Period
Period: 3T 2025
Guidance from the release
Le chiffre d'affaires du troisième trimestre a été conforme à nos attentes... Nous confirmons donc nos prévisions pour 2025.
T3 conforme aux attentes avec -0,8 % organique ; resserrement de la guidance 2025 (baisse organique 1-4 %) ; EBE ajusté attendu 830-855m€ ; processus de cessions en cours (Mobilité & Services Web Transactionnels, activités nord-américaines) ; revues externes du portefeuille HBR et du cadre de conformité finalisées.
Risks mentioned
Baisse organique du chiffre d'affaires (guidance 2025 -1 % à -4 %)
Opérationnalisation inégale du cadre de conformité FCC au sein des entités
Portefeuille de commerçants à haut risque nécessitant surveillance continue
Hausse des coûts de financement impactant le cash-flow
Opportunities identified
Cessions d'actifs stratégiques (valorisation Mobilité 400m€ +10m€ conditionnels ; Nord-Amérique 70m€) pour simplifier le périmètre
Montée en puissance du nouveau management et simplification organisationnelle
Croissance des solutions SoftPOS et terminaux de nouvelle génération
Partenariats stratégiques (Yeepay, Outpayce) et contrats clients majeurs (RDG, Garanti Bank, grands groupes hôteliers)
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