“I hear your frustration with the stock market, it’s all mine,” AG’s instructions and reports

It was in one of the Cœur Défense conference halls that the world’s fourth largest payment company, Worldline, Europe’s leader in transaction and payment services, met. Like most, this is the first face-to-face meeting since the pandemic, and especially the first since the creation of the new administration, with a division of power between Bernard Burizho, chairman of the board, and Gilles Grapin, chief executive. which occurred after the takeover of Ingenico in the last quarter of 2020. This meeting was not to be one of the busiest of the season, and it was not despite shareholders’ dissatisfaction with the fall in stock prices over the past month. Far from deviating from the topic that was raised many times during the Q&A session, the Director-General decided to put it on the table.

All digital payment players in the United States and Europe have reached their peak in 2021, and we have since experienced an extremely rapid turnaround in the technology and payments sector. We have achieved our goals perfectly in 2021, despite the pandemic and the shortage of components. Macroeconomic and geopolitical factors are behind the fall in prices. To this was added the thesis of technological breakthroughs of young companies. There was an undifferentiated decline for all, and despite its results, Worldline did not escape it. “, – said the chief.

Comparative support, historical players such as Worldline have lost 40% after their highs, but, ” even new entrants that emerged ten years ago, such as Adyen or Paypal, have finally lost 70% amid an overall 60% drop in technology compared to 2021 highs “. The boss condemned all the violence of the market downturn, this collapse of technology that we are part of “but who” not related to the quality of our results or our long-term and reliable prospects. Our new three-year plan is the most ambitious since the IPO, based on our transformation with Ingenico and our technology platform, with growth expected from +9 to + 11% and a gross operating margin surplus (OMDA) of around 30%. “And conclude:” We have to fulfill our plan. “ The manager also explained that he had met many investors – more than 800 in six months – to ” do not throw the child away with water Responding to the shareholder, he assured: ” I can fully hear your frustration in the stock market. This is completely mine. I own over 90% of my personal wealth in this company “.

The main trends are unchanged

For the CEO, three trends in the payments sector should provide confidence and allow investors to return: the shift from cash to digital payments in parallel with the digitalisation of the economy, and in this respect European players have an advantage over Americans. in the Atlantic, 80% of payments are already digital, compared to 50% in the Old Continent; structurally profitable payments market with the effect of economies of scale associated with growth and powerful cash generation. ” I think that the payment industry is very interesting, and when the dust settles, it will stand out among the technologies. This is the story we carry, we are a class of technological assets that are slightly different from each other “, Assured Gilles Grapine.

The operation of truth intervened after the traditional strategic and financial presentations. The group confirmed that it meets its annual goals. Similarly, the liquidation of the former Ingenico payment terminals is on schedule and should be completed with the Apollo Fund in the second half of this year. He reminded that the payment will be made from the first part of 1.7 billion euros at the close, and then an additional price of 900 million depending on the efficiency and horizon of the fund.

The meeting easily accepted all the submitted decisions (39). Dividends are not offered. Investir had 21,561 votes for more than 130 seats.