French digital payments firm Worldline (WLN.PA) announced on Wednesday that it anticipates a slight decline in organic revenue for 2025, following a difficult first half of the year. The Paris-based company projects adjusted EBITDA for 2024 to range between €825 million and €875 million ($1 billion). CEO Pierre-Antoine Vacheron, who took over in May, told reporters that it will take several quarters of work before the company can return to growth in line with industry standards.

Worldline had postponed its annual guidance in April due to a strategic restructuring. Previously, in February, it had forecast revenue growth in 2025 similar to the previous year. Investor confidence took a hit in June when shares plummeted by over 30% in a single day, following reports from 21 European media outlets alleging the company had concealed client fraud to maintain revenue. Shares fell to €2.70 before partially recovering to close at €3.57 on Tuesday, valuing the company at €1 billion.

Belgian prosecutors launched an investigation into potential money laundering activities at Worldline’s Belgian division in June. In response to concerns, Worldline hired auditing firm Accuracy in July to examine its portfolio of merchants involved in high-risk activities. The company stated that early findings do not indicate a significant need to cut additional client ties.

For the first half of 2024, revenue dropped 3.4% to €2.20 billion, falling slightly short of the €2.22 billion expected by analysts. On Tuesday, Worldline announced the sale of its Mobility & e-Transactional Services division to Magellan Partners in a deal worth up to €410 million. The company also revealed that Srikanth Seshadri will replace Gregory Lambertie as Chief Financial Officer on September 8.