Worldline - 2019 Universal Registration Document

E

FINANCIALS Main factors affecting the Group’s revenue and profitability

Although most of the Group’s revenue is currently generated in its core historical markets in Europe (approximately 93% in 2019), the Group is earning an increasing proportion of its

Asia. The percentage of the Group’s revenue generated in emerging markets in Latin America and Asia was 6.7% in 2019, and this percentage is expected to grow over time as the

revenue from emerging market countries in Latin America and Group pursues further international growth.

E.1.8

Seasonality and period to period variability

Although the Group’s operations typically do not show strong seasonal variations, the fourth quarter of the year, which is favorably affected by higher shopping volumes during the end of year holidays, is the Group’s highest revenue quarter, and the first quarter of the year, when new projects are often in their early phases, usually shows the lowest revenue. The effect of the end of year holiday season is offset to some extent by a slowdown in some of the Group’s e-Government contracts that have lower volumes during holiday periods. While the Group’s results do not typically show strong seasonal variations, the Group may experience significant

period-to-period fluctuations at the consolidated level or in a particular Global Business Line or business division. In particular, given the front-end nature of build revenue and the lower associated profitability of the build and early ramp phases of a project, a greater or lesser proportion of build revenue from one period to the next can have a significant impact on revenue and profitability. A range of other factors could cause or contribute to period to period fluctuations, including non-renewals of contracts or the end of life of a terminal product.

E.1.9

Changes in scope [GRI 102-45] and [GRI 102-49]

The Group’s scope of consolidation has evolved significantly in 2018, 2017 and 2016 as detailed in Section A.5.1 Formation on the Group. The Group’s scope of consolidation will continue to evolve given its external growth strategy.

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Universal Registration Document 2019