Worldline (WLN) AGM 2025 summary

Opening remarks and agenda

• The meeting was chaired by the new President, with live transmission in French and English, and included presentations from management, auditors, and a Q&A session for both in-person and remote shareholders.

• The committee for the meeting was established, including scrutineers from major shareholders, and the presence of statutory auditors and other key stakeholders was confirmed.

• The agenda included financial review, board updates, CSR roadmap, remuneration reports, auditor reports, Q&A, and voting on resolutions.

• The agenda and 32 resolutions were published in advance, with all required documents made available to shareholders.

• The quorum was 76.94% for the ordinary meeting, and all quorum requirements were met.

Financial performance review

• 2024 revenue was €4,632M, with 0.5% organic growth; adjusted EBITDA was €1.07 billion (23.1% margin).

• Free cash flow was €201M, impacted by €139M in non-recurring strategic costs; significant cost savings from the Power 24 plan.

• Normalized net income was €434M, diluted EPS at €1.53, but reported net loss was €297M due to exceptional provisions and fair value adjustments.

• Net debt at year-end was €2.0bn (1.9x EBITDA), with new credit facilities and bond issuances to manage maturity profile.

• Q1 2025 revenue declined 2.3% due to non-recurring items, with merchant services and financial services affected by contract terminations and internalizations.

Board and executive committee updates

• Pierre-Antoine Vacheron was appointed CEO as of March 1, 2025, following a rigorous selection process; his roadmap and priorities were presented.

• The board was resized and renewed, now comprising 13 directors (up to 67% independent, 67% foreign, 46% women), with further changes proposed.

• Six directors left and three new directors joined in 2024, with a focus on diversity, independence, and complementarity of skills.

• Board and committees maintained high engagement, with 19 board meetings and strong attendance rates, focusing on strategy, governance, risk, and transformation.

• Renewals and new appointments included Mette Kamsvåg, Michael Stollarz, Jérôme Grivet, and Rodolfo J. Savitzky.