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|Paris, 23rd April 2019|
Revenue of €753 million, up 12% on a comparable basis
Retail accelerated to 11 % vs. 8 % in fourth quarter 2018
B&A growth reached 12 % boosted by major market share gain in Brazil
All other B&A regions in line with expectations
2019 organic growth guidance raised to c. 6 % (vs. 4 % to 6 %)
EBITDA & Free Cash Flow objectives confirmed
Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced its revenue for the first quarter 2019.
Nicolas Huss, Chief Executive Officer of Ingenico Group, commented: "The first quarter performance is strong and a great start to 2019. The Group performance was fuelled by an acceleration of Retail reaching 11 % and by an outstanding 12 % growth of B&A, boosted by a major market share gain in Brazil against competition, while the B&A operations in mature markets (EMEA, North America) were fully in line with expectations. The performance in Brazil exemplifies the B&A revival program that we launched in November 2018, and which is a key component of the Fit for Growth transformation that started two months ago. The team is fully mobilized to optimize the shift of the B&A business mix towards the emerging markets. To even further accelerate the revival of B&A, I am glad to welcome Matthieu Destot, as the new leader of this Business unit. Matthieu is great addition to the team and is already focused at reinforcing the profitable growth profile of B&A. The Retail team, led by Johan Tjärnberg, delivered a strong performance in Q1. Payone teams are now fully part of Ingenico and integration is progressing well. The three Business Lines posted organic growth ranging from 11 % in Global Online, benefiting from recent customer wins, to 15 % in SMB embodying the quality of our Retail offer to Merchants and 20 % in Enterprise, boosted by a strong performance of our Healthcare vertical, of our Axis platform and early shipments in North America. This Q1 performance enables us to raise our 2019 organic growth to the upper end of the initial guidance."
|Q1 2018 Reported||
|* 2018 PF figures including acquisitions made during the year at 100%|
First quarter 2019 performance
In the first quarter of 2019, revenue totalled €753 million, representing a 12% increase on a comparable basis. On a reported basis revenue was 29% higher than in the first quarter of 2018 and included a positive foreign exchange impact of €6 million as well as a positive contribution from the newly consolidated BS Payone and Paymark.
The Retail Business Unit reported a revenue of €435 million, showing an increase of 11% over the quarter on a comparable basis. On a reported basis, revenue increased by 44% during this first quarter and included a positive foreign exchange impact of €2 million and the positive contribution of BS Payone and Paymark. Compared with Q1'18, the various activities performed as follows on a like-for-like basis:
During the quarter, B&A posted a revenue of €318 million, an increase of 12% on comparable basis. On a reported basis the activity increased by 14% and included a positive foreign exchange impact of €4 million. Compared to Q1'18, the various regions performed as follows on a like-for-like basis:
Audio Webcast & Conference Call
The first quarter 2019 revenue will be discussed in an audio webcast and a Group telephone conference call to be held on 23rd April 2019 at 6.00pm Paris time (5.00pm UK time). The presentation and audio webcast will be accessible at www.ingenico.com/finance. The call will be accessible by dialling one of the following numbers: +33 (0) 1 72 72 74 03 (from France), +1 646 722 4916 (from the US) and +44 20 7194 3759 (from other countries) with the conference ID: 10709919#.
This press release contains forward-looking statements. The trends and objectives given in this release are based on data, assumptions and estimates considered reasonable by Ingenico Group. These data, assumptions and estimates may change or be amended as a result of uncertainties connected in particular to the performance of Ingenico Group and its subsidiaries. These forward-looking statements in no case constitute a guarantee of future performance, and involve risks and uncertainties. Actual performance may differ materially from that expressed or suggested in the forward-looking statements. Ingenico Group therefore makes no firm commitment on the realization of the growth objectives shown in this release. Ingenico Group and its subsidiaries, as well as their executives, representatives, employees and respective advisors, undertake no obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future developments or otherwise. This release shall not constitute an offer to sell or the solicitation of an offer to buy or subscribe for securities or financial instruments.
About Ingenico Group
Ingenico Group (Euronext: FR0000125346 - ING) is the global leader in seamless payment, providing smart, trusted and secure solutions to empower commerce across all channels, in-store, online and mobile. With the world's largest payment acceptance network, we deliver secure payment solutions with a local, national and international scope. We are the trusted world-class partner for financial institutions and retailers, from small merchants to several of the world's best known global brands. Our solutions enable merchants to simplify payment and deliver their brand promise.
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Contacts / Ingenico Group
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Capital Market Day: 24th April 2019
Annual General Meeting: 11th June 2019
2019 half-year results: 23rd July 2019
Following the closing of the combination of BS Payone with the Ingenico DACH assets, the reporting evolves towards greater transparency and making it easier to read the joint-venture performance. In parallel, the former Ogone activities recognized in Global Online and Enterprise are transferred to SMB and Bambora Pacific is now consolidated in Enterprise.
|1. FORMER REPORTING ON A REPORTED BASIS|
|In millions of euros||Q1 2018||Q2 2018||Q3 2018||Q4 2018||2018|
|2. NEW REPORTING ON A REPORTED BASIS|
|In millions of euros||Q1 2018||Q2 2018||Q3 2018||Q4 2018||2018|
|3. NEW REPORTING ON A PRO FORMA BASIS|
|In millions of euros||Q1 2018 PF||Q2 2018 PF||Q3 2018 PF||Q4 2018 PF||2018 PF|
 On a like-for-like basis and at constant rate