:French digital payments company Worldline announced third-quarter revenue on Wednesday that was generally in line with analysts’ expectations, as the good performance of its merchant services business offset the termination of certain contracts.

Revenue in the third quarter of the year fell 1.1% organically year-on-year to 1.16 billion euros ($1.3 billion), in line with analysts’ average estimate of 1.17 billion euros according to a consensus provided by the company.

The merchant services business – which contributes around 75 percent to the group’s adjusted core profit and provides services in payment terminals and e-commerce – saw revenue grow by 0.2 percent during the quarter, helped by steady growth in Central Europe and increased market share. in Southern Europe.

Faced with slowing consumer spending in Europe and a fall in its stock market valuation that led to its exclusion from France’s blue-chip CAC 40 index last year, Worldline’s attempts to boost its share price have been hampered by repeated reductions in its financial targets.

The Paris-based company, which processes digital transactions for clients ranging from merchants to government agencies, issued profit warnings in August and September, most recently announced with the departure of its longtime CEO, Gilles Grapinet.

The group confirmed its 2024 forecast for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of around 1.1 billion euros and organic growth of around 1 percent.

“We are targeting a gradual return to mid-single-digit revenue growth in 2025,” CEO Marc-Henri Desportes said in a statement.

Desportes was appointed for an interim period, with Worldline management still looking for Grapinet’s successor.

“The directors will appoint a new CEO, I commit to action today,” he said in a conference call with reporters.

Analysts at investment bank Intermonte say tie-ups are back on the table in the payments sector, citing Mario Draghi’s report on the competitiveness of the European Union which could pave the way for a merger between Worldline and its Italian rival Nexi.

“We have built a great success in Italy, it is normal that this generates rumors… but what matters now is the margin of our activity, that is our priority,” Desportes said when asked about the lawsuit mergers and acquisitions activities in Italy.

($1 = 0.9206 euros)