Worldline, which processes digital payments for clients ranging from merchants to government agencies, reported a net loss group share of 817 million euros for 2023, compared with a 211 million euros profit a year earlier.

"Net income Group share from continued operations was...mainly impacted by the 1.15 billion euros goodwill impairment mostly materialized in Merchant Services, based on conservative assumptions reflecting the change in valuation paradigm in the payments' Industry", Worldline said in a statement.

The impairment is non-cash and is linked to "the evolution of sector values and the stricter application of technical parameters in the accounting and non-cash valuation of our assets", CFO Grégory Lambertie said in a call with journalists.

Lambertie added that, adjusted for non-recurring items, net income group share was "relatively stable" when compared with 2022.

Worldline's market capitalisation fell by more than half in October, sending ripples across the sector, after it cut its full-year financial targets, citing the economic slowdown and heightened scrutiny over money-laundering risks in Germany.

Worldline also said it generated revenue of 4.61 million euros, in line with analysts expectations, according to a company provided consensus.

($1 = 0.9215 euros)

(Reporting by Augustin Turpin; Editing by Leslie Adler and Marguerita Choy)