Worldline - 2020 Universal Registration Document

A.1 Business profile4
A.2 Revenue profile5
A.2.1 By Global Business Line5
A.2.2 By Geographic areas5
A.3 Message from Gilles Grapinet6
A.4 Worldline in 20207
A.4.1 Key graphs7
A.5 Group presentation11
A.5.1 Formation of the Group11
A.5.2 Simplified organizational chart14
A.5.3 Subsidiaries and participation15
A.5.4 Management and organization19
B.1 Card Payments26
B.2 Non-card based payments28
B.2.1 Credit Transfers28
B.2.2 Direct Debit28
B.2.3 Instant Payments28
B.2.4 Other Alternative Payment Instruments28
B.3 Other solutions in and around the payment value chain29
B.3.1 Solutions for Traditional Merchants29
B.3.2 Value-Added Services for Banks29
B.3.3 New digital businesses30
B.4 Key market trends and drivers of change30
B.4.1 The digital revolution is driving new customer behavior generating significant growth in non-cash payments32
B.4.2 Key developments in technology will sustain the growth of electronic payments35
B.4.3 Regulatory changes in the payment sector are expected to create new opportunities36
B.4.4 New entrants and their impact on the industry business model also create new opportunities for payment services Providers37
C.1 Description of the Group’s four Business Lines services40
C.1.1 Merchant Services40
C.1.2 Terminals, Solutions & Services46
C.1.3 Financial Services48
C.1.4 Mobility & e-Transactional Services54
C.2 Competitive Strengths61
C.2.1 A major player in Europe with an expanding global footprint, especially in emerging markets61
C.2.2 Comprehensive unique positioning across the extended payments value chain62
C.2.3 Leading presence in next-generation payment services63
C.3 Worldline’s Business Model65
C.4 Worldline: a regulated Group68
C.4.1 European Regulation68
C.4.2 Regulation applicable outside of the European Economic Area70
C.4.3 Compliance with technical standards70
C.4.4 Protection of personal data71
C.5 Strategy74
C.5.1 Scale and reach: fully leverage Worldline Pan-European competitive advantage74
C.5.2 Large deals expertise: maintain commercial focus on large outsourcing deals and new bank alliances75
C.5.3 Focus on online: grow above market Worldline online and omni-channel payments, leveraging One Commerce Hub and Digital Banking75
C.5.4 Innovation and investment: ensure successful market breakthrough with latest differentiating offers75
C.5.5 Integration know-how: enable fastest possible delivery of Ingenico and SIX Payment Services synergy plans75
C.5.6 M&A track record: more than ever, maintain an absolute priority and focus on the next wave of European payment consolidation opportunities76
C.5.7 Make Worldline the n°1 payment industry employer brand through talent & expert attraction and developments policies and Tier 1 CSR achievements76
C.6 Technology77
C.6.1 IT Platforms77
C.6.2 Data Centers and Hardware77
C.7 Sales and marketing78
C.8 Procurement and suppliers79
C.9 Investments80
C.9.1 Investments of 202080
C.9.2 Principal Investments Currently Underway and Planned81
C.10 Property Plant and Equipment81
C.10.1 Significant existing or planned property, plant and equipment81
C.11 Research and Development, Patents and Licenses82
C.11.1 Research and Development82
C.11.2 Intellectual Property, Patents, License, Usage Rights, and Other Intangible Assets82
D.1 Integrating sustainability into Worldline’s business86
D.1.1 Worldline’s integrated strategy86
D.1.2 Worldline’s CSR ambition98
D.1.3 Worldline’s CSR performance101
D.1.4 Main key performance indicators110
D.2 Building customer trust with reliable, secured, innovative and sustainable solutions113
D.2.1 Meet customer expectations [GRI 102-43] [WL4]113
D.2.2 Spur sustainable innovation115
D.2.3 Ensure system security, reliability & business continuity120
D.2.4 Guarantee data protection127
D.2.5 Improve customer relationship management129
D.2.6 Key performance indicators about business and innovation136
D.3 Being a responsible employer139
D.3.1 Meet employee expectations139
D.3.2 Foster employee well-being at work142
D.3.3 Ensure talent attraction & retention153
D.3.4 Promote training & human capital development158
D.3.5 Key performance indicators about Human Resources162
D.4 Ensuring business ethics within our value chain169
D.4.1 Meet the highest level of ethics for all stakeholders169
D.4.2 Secure compliance with laws and regulations171
D.4.3 Fight against bribery and corruption177
D.4.4 Develop responsible procurement & due diligence in the value chain181
D.4.5 Develop sponsorship and philanthropy in our local communities185
D.4.6 Key performance indicators about Ethics and value chain188
D.5 Reducing our environmental footprint190
D.5.1 Meet society expectations for a sustainable environment190
D.5.2 Fight climate change195
D.5.3 Develop circular economy207
D.5.4 Key performance indicators about Environment210
D.6 Reporting methodology and scope for non-financial indicators214
D.6.1 Principles and standards of reporting214
D.6.2 Methodology of reporting216
D.6.3 Methodology of indicators217
D.6.4 Report of one of the statutory auditors, appointed as independent third party, on the consolidated non-financial statement – year ended December 31, 2020224
E.1 Operational review228
E.1.1 Statutory to constant scope and foreign exchange rates reconciliation228
E.1.2 Performance by Global Business Line229
E.1.3 Human resources232
E.2 2021 revenue trend scenario233
E.3 2021 objectives233
E.4 Financial review234
E.4.1 Income statement234
E.4.2 Cash flow237
E.4.3 Financing policy238
E.4.4 Pro forma financial information239
E.5 Consolidated financial statements244
E.5.1 Statutory Auditors’ report on the consolidated financial statementsfor the year ended December 31, 2020244
E.5.2 Consolidated Income Statement249
E.5.3 Consolidated statement of comprehensive income249
E.5.4 Consolidated statement of financial position250
E.5.5 Consolidated cash flow statement251
E.5.6 Consolidated statement of changes in shareholder’s equity252
E.5.7 Appendices to the consolidated financial statements253
E.6 Parent company financial statements300
E.6.1 Statutory auditors’ report on the financial statements for the year ended December 31, 2020300
E.6.2 Statutory auditors’ special report on related-party agreements – Shareholders’ Meeting held to approve the financial statements for the year ended December 31, 2020304
E.6.3 Worldline SA financial statements309
E.6.4 Notes to Worldline SA statutory financial statements310
E.7 Other financial information relating to Worldline SA327
E.7.1 Worldline SA five years financial summary (from parent company financial statements)327
E.7.2 Statement used to present information on supplier and customer payment terms mentioned in article D. 441-4 of the French Commercial Code328
E.8 Related Party Transactions329
E.8.1 Agreements entered into with SIX Group329
E.8.2 Agreements entered into with Deutscher Sparkassen Verlag GmbH (DSV Group)331
E.8.3 Agreements entered into with significant shareholders331
E.9 Non-IFRS financial measures332
E.9.1 OMDA332
E.9.2 Free Cash Flow333
E.9.3 EBITDA334
F.1 Risk management activities336
F.1.1 Enterprise risk management (ERM)336
F.1.2 Business & Operational risk assessment and management337
F.1.3 Insurance339
F.2 Risk factors340
F.2.1 Cyber-attack, security of systems and data protection [extra-financial risks – Build customer trust]340
F.2.2 People [extra-financial risks – Responsible employer challenges]341
F.2.3 Market challenges341
F.2.4 Service delivery quality and business continuity [extra-financial risks – Build Customer Trust/A robust and reliable IT Infrastructure]342
F.2.5 Suppliers343
F.2.6 Impact of the Coronavirus pandemic (Covid-19)343
F.2.7 Risks related to merger and acquisition transactions344
F.2.8 Expansion to new markets345
F.2.9 Regulatory and Legal risks345
F.2.10 Clients – [extra-financial risks – Build customer trust]347
F.2.11 Intellectual Property347
F.2.12 Commercial acquiring business – chargeback risk348
F.2.13 Macro-economic changes and country risks348
F.2.14 Financial risks349
F.2.15 Environmental risks [extra-Financial risks – Reducing Worldline’s environmental footprint]350
F.2.16 Risk on shares351
F.2.17 Organizational structure risk351
F.3 Legal Proceedings351
F.3.1 Labor claims351
F.3.2 Commercial and IP related claims351
F.3.3 Tax claims352
F.3.4 Other legal proceedings352
F.3.5 Miscellaneous353
F.4 Internal Control353
F.4.1 Internal control definition and objectives353
F.4.2 Internal control system players354
F.4.3 Components of the internal control system354
F.4.4 Systems related to accounting and financial information356
F.4.5 Outlook and related new procedures to be implemented357
G.1 Legal Information360
G.1.1 Corporate form360
G.1.2 Corporate purpose, raison d’être and other information360
G.1.3 Main Provisions of the bylaws361
G.2 Corporate Governance362
G.2.1 Compliance with the AFEP-MEDEF Code – Frame of reference on corporate governance362
G.2.2 Management363
G.2.3 The Board of Directors: composition and organization principles366
G.2.4 Operation of the Board of Directors398
G.2.5 Operation of the Committees of the Board of Directors402
G.2.6 Assessment of the works of the Board of Directors407
G.3 Executive compensation and stock ownership408
G.3.1 Compensation policy for the Corporate Officers408
G.3.2 Components of compensation paid or awarded to Corporate Officers for 2020, submitted to a shareholder vote427
G.3.3 Performance share plans and stock option plans444
G.4 2021 Annual Shareholders’ General Meeting455
G.5 Evolution of capital and stock performance455
G.5.1 Basic data455
G.5.2 Dividends456
G.5.3 Documentation457
G.5.4 Capital457
G.5.5 Share trading performance464
H.1 Persons responsible468
H.1.1 Name and position of the person responsible for the Universal Registration Document468
H.1.2 Certification of the person responsible for the Universal Registration Document468
H.1.3 For the audit468
H.2 Glossary469
H.2.1 Financial terms469
H.2.2 Business KPI’s (Key Performance Indicators)470
H.2.3 Market terms470
H.2.4 Business terms471
H.3 Cross-reference tables474
H.3.1 Cross-reference table for the Universal Registration Document474
H.3.2 Cross-reference table for the Financial report477
H.3.3 Cross-reference tables with the Annual Management Report478
H.3.4 Cross-reference table with article L. 225-102-1 regarding the declaration of extra-financial performance479
H.3.5 Cross-reference tables with the report on Corporate Governance481
H.4 Contacts483
H.4.1 Headquarters483
H.4.2 Global Organization483
H.4.3 Corporate functions483
H.4.4 Investors Relations483
H.5 Financial calendar483

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