French digital payments group Worldline (WLN.PA) lowered its 2026 revenue growth expectations on Thursday, saying a recovery in new business had taken longer than expected as banks delayed awarding contracts following the company's recent setbacks.
Worldline now expects flat to marginally positive revenue growth in 2026, compared with its previous forecast for low single-digit growth.
Second-quarter revenue was flat year-on-year after seven consecutive quarters of contraction.
Chief Executive Pierre-Antoine Vacheron said the recovery in commercial activity and revenue recognition had been slower than anticipated because some banking clients took longer to commit to new business with the company.
"For one very simple reason, which is that there have been delays in the decision of the banks to allocate new contracts to Worldline because of what we've been going through in 2025, which led the banks to question," Vacheron told reporters.
He said Worldline was now emerging from that phase and expected the second half to be "a bit better" than the first, helped by continued momentum in its merchant services business.
The company has not delivered organic revenue growth since late 2024 after setbacks including allegations of money laundering and a series of profit warnings triggered significant customer losses and a slump in its share price.
Backed by major shareholders Credit Agricole (CAGR.PA), BNP Paribas (BNPP.PA) and French state investment bank Bpifrance, Worldline has been trying to rebuild investor confidence following a 500 million euro ($576 million) capital injection and asset disposals.
Revenue in the six months to June fell 0.2% to 1.74 billion euros, broadly in line with analysts' expectations of 1.72 billion euros in a company-compiled poll.
Adjusted EBITDA reached 294 million euros, ahead of analysts' average estimate of 273 million euros.
Worldline confirmed its full-year EBITDA outlook and improved its free cash flow target to a negative range of 60 million euros to 40 million euros, from a previous negative range of 80 million euros to 70 million euros.
($1 = 0.8681 euros)
