Worldline

Worldline is a financial transaction processing company based in France. Co's operations are organized along three segments covering payments and digital services: Merchant Services & Terminals (facilitating consumer engagement around end-to-end e-payment transactional services on any device – before, during and after the point of sale); eMobility and eTransactional Services (assists businesses and governments in developing new digital services enabling strategic digital transformation); and Financial Processing & Software Licensing (provides processing services to banks and financial institutions for managing card-based and online cashless payments).
  • TickerA116LR
  • ISINFR0011981968
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance

Analysts

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

Emmanuel Matot ...
  • Nicolas David

Worldline : Confirmation of solid outlook and independence for the group

>No major surprises at the numbers – slight acceleration in growth and comfortable leverage on margins - Yesterday, Worldline took part in the investor day held by its parent company Atos. We noted no major surprise from the figures communicated with:An acceleration in momentum in Q4 2018 (sales +7% organic vs +6% since early 2017) but based on an unexpected mix (brisk growth in mobility & e-transactional services and slowdown in growth in merchant services).§rc...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/01/2019

...

Emmanuel Matot ...
  • Nicolas David

Worldline : Confirmation de solides perspectives et accès à l’indépendance

>Des éléments chiffrés sans grande surprise – Légère accélération de la croissance et confortable levier sur les marges - Worldline a participé hier à l’investor day de sa maison-mère Atos. Au niveau des éléments chiffrés communiqués, nous retiendrons aucune surprise majeure avec :Une accélération de la dynamique au T4 18 (CA = +7% en organique vs +6% depuis début 2017) mais à partir d’un mix inattendu (croissance soutenue dans la Mobilité & Services Web Transac...

Matthieu Lavillunière ...
  • Maxime Dubreil

INVEST SECURITIES - WORLDLINE : Volera de ses propres ailes - ACHAT, OC 55€ (vs 56€)

Emmanuel Matot ...
  • Nicolas David

Worldline : Confirmation of solid outlook and independence for the group

>No major surprises at the numbers – slight acceleration in growth and comfortable leverage on margins - Yesterday, Worldline took part in the investor day held by its parent company Atos. We noted no major surprise from the figures communicated with:An acceleration in momentum in Q4 2018 (sales +7% organic vs +6% since early 2017) but based on an unexpected mix (brisk growth in mobility & e-transactional services and slowdown in growth in merchant services).§rc...

Emmanuel Matot ...
  • Nicolas David

Worldline : Confirmation de solides perspectives et accès à l’indépendance

>Des éléments chiffrés sans grande surprise – Légère accélération de la croissance et confortable levier sur les marges - Worldline a participé hier à l’investor day de sa maison-mère Atos. Au niveau des éléments chiffrés communiqués, nous retiendrons aucune surprise majeure avec :Une accélération de la dynamique au T4 18 (CA = +7% en organique vs +6% depuis début 2017) mais à partir d’un mix inattendu (croissance soutenue dans la Mobilité & Services Web Transac...

Matthieu Lavillunière ...
  • Maxime Dubreil

INVEST SECURITIES - WORLDLINE : Volera de ses propres ailes - ACHAT, OC 55€ (vs 56€)

Emmanuel Matot ...
  • Nicolas David

Worldline : Main announcements as part of the Atos investor day

>2018 results in line with expectations at the operating level – acceleration in momentum at the end of the year - As part of the investor day being held by its parent company Atos today, Worldline made several announcements. First, the main performance indicators were published for 2018. We note organic growth in sales in line with expectations (+6.2% vs consensus = +6.2% - acceleration confirmed in Q4 with +7%), as was the level of EBITDA (€ 391m vs consensus =...

Richard-Maxime Beaudoux

WORLDLINE: Strong FY 2018, 3-year plan announced (2019-2021) | BUY | EUR57

WORLDLINE - BUY | EUR57(+19%) Strong FY 2018, 3-year plan announced (2019-2021) Preliminary Q4 and FY 2018 earnings: guidance reached 2019: the first full-year combination of Worldline with SPS Mid-term targets: 3-year plan (2019-2021)

Five Directors bought 7,500 shares at between 30.406EUR and 30.710EUR.

Five Directors at Worldline Sa bought 7,500 shares at between 30.406EUR and 30.710EUR. The significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing r...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/31/2019

This report assesses the consequences for BMW and Daimler of a “possible” scenario: an increase in US tariffs on imports from Europe (from 2.5% to 15%) and a decline in Chinese tariffs (from 25% to 15% irrespective of the origin). We estimate: i) the impact on EBIT at -€ 1.2bn for both, i.e. respectively 15% and 10%, and ii) the impact on the valuation at -€ 13.9bn and -€ 14.9bn, which are impressive figures but not realistic. Any increase in US tariffs would result in the relocation ...

Alexandre Iatrides ...
  • Alfred Glaser
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • Louis Boujard
  • Martial Descoutures
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Corby
  • Rémi Adam
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/01/2019

...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Benoit Valleaux
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Martial Descoutures
  • Nicolas David
  • Pierre Corby
  • Roland Pfaender
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/30/2019

If we look for a plausible reason for the performances at the start of the year, the easing of fears of a recession stemming from a monetary policy mistake in the US looks a good candidate. If this is true, we may expect the market to soon look for signs of a stabilisation in the cycle to buy a soft landing scenario, synonymous with a phase of renewed gains. In the meantime, the resurgence of questions (macro economy, European politics, US/China negotiations) could result in a pause o...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Louis Boujard
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/29/2018

The current sell-off and the previous corrections have the same causes: doubts on the macro-economic cycle with fears of a brutal slowdown potentially aggravated by a pro-cyclical monetary policy. The US bond market has an optimistic view of this apocalyptic picture. The potential for the yield on US Treasuries to increase via real rates seems exhausted and paves the way for a decline in long-term rates, a support factor for equities, provided, however, that the Democrats prevail. Th...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Louis Boujard
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/10/2018

Le sell-off actuel et les corrections précédentes ont les mêmes causes : doutes sur le cycle macroéconomique avec crainte d’un ralentissement violent, potentiellement aggravé par une politique monétaire procyclique. Le marché obligataire US oppose une vision optimiste à ce tableau apocalyptique. Le potentiel de progression du rendement de l’UST via les taux réels semble épuisé et ouvre la porte à une baisse des taux longs, facteur de soutien pour les actions à condition toutefois que ...

WORLDLINE sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of WORLDLINE (FR), active in the Software industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date November 23, 2018, the closing price was EUR 44.12 and its target price was estimated at EUR 39.47.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Richard-Maxime Beaudoux

Payments & Security: Buy Wirecard and Worldline in early 2019

Payments & Security Buy Wirecard and Worldline in early 2019 Earnings growth potential over 2018-20e: we spot WDI and WLN PSD2 / Instant payments: we spot WLN and WDI Special situations: we spot ING and SCH

Jehanne Leroy

Worldline - 30 Novembre 2018

Les actionnaires sont réunis afin d’approuver l’opération d’apport par SIX Group AG des actions de son Services de Paiement et la rémunération de cette apport par l’émission d’actions Worldline, ainsi qu’un montant en numéraire. Tant d’un point de vue stratégique que financier, cette opération semble justifiée et acceptable. Du point de vue de la gouvernance, bien que le taux d’indépendance du conseil ne s’améliore pas, il est appréciable qu’il ne se détériore pas. Aussi, nous soutenons l’opération. Cependant, il est fort regrettable que la société n’ait pas saisi l’occasion pour supprimer le...

Jehanne Leroy

Proxy Report - 24/05/2018

La société a sensiblement amélioré sa communication concernant les rémunérations attribués au titre de l'exercice passé. Ainsi, elle communique désormais le taux de réalisation précis pour chacun des critères du bonus 2017. De plus, la société a enfin porté la mesure de la performance des critères du LTI à 3 années, s'lignant ainsi non seulement sur les préconisations de Proxinvest, mais également sur les pratiques de marché. Nous l'en félicitons et soutenons la résolution 8. Cependant, la structure de la politique de rémunération est toujours trop généreuse et ne nous permet toujours pas de ...

Etude de l'AG du 24/07/2017

La présente assemblée générale, convoquée par les commissaires aux comptes titulaires Grant Thornton et Deloitte & Associés, a pour objet de confirmer les nominations des administrateurs composant le Conseil d’administration. En effet, selon l'article 15 des statuts, les administrateurs qui ne détiendraient pas le nombre d'actions requis par les statuts sont réputés démissionnaires. Or, lors de l'AG de mai 2017, seuls les administrateurs indépendants et le Directeur Général détenaient un minimum de 1 500 actions.Il semblerait que ce soit ce manquement qui est l'origine de la présente convocati...

Valérie GASTALDY

Short term view - WORLDLINE SA : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €39.70. The bearish trend would be challenged above €57.00.

Valérie GASTALDY

Analyse court terme - WORLDLINE SA : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 39,70 €. La tendance baissière serait remise en cause au-dessus de 57,00 €.

Valérie GASTALDY

Analyse court terme - WORLDLINE SA : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 39,70 €. La tendance baissière serait remise en cause au-dessus de 57,00 €.

Valérie GASTALDY

Short term view - WORLDLINE SA : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €39.70. The bearish trend would be challenged above €57.00.

Matthieu DRIOL

Analyse moyen terme - WORLDLINE SA : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. La correction en cours gagne en vigueur. Il est trop tôt pour parler de retournement baissier. La tendance serait invalidée sous le support à 39,70 €.

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