Worldline (WLN) Q3 2026 TU earnings summary

Executive summary

• Q3 fully pruned revenue was €945.5M, up 2.5% organically YoY; published revenue was €967M, up 2.0%.

• North Star 2030 execution advanced through platform convergence, improved customer satisfaction and lower churn; FY26 guidance was confirmed.

Financial highlights

• Fully pruned Net Net revenue was €700.7M, down 1.0% organically; 9M revenue was €2,681M, up 0.7%, and Net Net revenue was €2,035M, down 2.3%.

• Merchant Services revenue was €759.2M, up 4.0%, with flat Net Net growth; Financial Services revenue was €186.3M, down 3.3%, or 5.1% excluding positive non-recurring revenue.

• Published-scope Q3 revenue was €967M, up 2.0% organically, versus fully pruned revenue of €946M, up 2.5%.

Outlook and guidance

• FY26 guidance confirmed on a post-pruning scope: organic revenue growth flat to marginally positive, Adjusted EBITDA €630M–€650M and free cash flow -€60M to -€40M.

• FY26 reported net leverage target of below 2x was achieved; Q4 outlook remains in line with H1 expectations.

• Enterprise and Nordics churn normalization is expected to weigh on growth; delayed Enterprise retail churn is expected to normalize in Q4 2026.

• North Star targets include €80M in 2027, with associated costs equal to 50%; after 2027, the plan is expected to break even and become self-financing.

• Long-term cash conversion target remains €300M–€350M; 4% CAGR growth and a 5% exit rate underpin the trajectory.