Elettronica
INGENICO GROUP : Q1 2015 : Another quarter of strong growth
Q1 2015: Another quarter of strong growth
Ingenico Group (Euronext: FR0000125346 - ING) announced today its first-quarter 2015 revenue.
* Including GlobalCollect acquisition as of January 1st, 2014
** Based on 2014 revenue including GlobalCollect contribution in Q4'14
Philippe Lazare, Chairman and CEO of Ingenico Group, commented:
, the Telium Tetra terminal mainly designed for the retail industry, recently received the PCI PTS 4.0 certification, meeting the highest security standards and confirming Ingenico Group's leadership to its clients and partners. This certification is a major step in the deployment of Telium Tetra's new range of products.
In the first quarter of 2015, Ingenico Group secured some promising breakthroughs, leveraging changes in usage patterns, increasing customer interaction points, and offering the most advanced technology in the industry. The Group announced a partnership with Intel , world leader in computing innovation, to integrate payment acceptance into tablets and enter the emerging market of connected devices. Alongside this initiative, Ingenico Labs developed a contactless pilot solution for the Curie Institute 's annual anti-cancer campaign, integrating payment acceptance into advertising screens.
Following its rebranding last year, Ingenico Group intensified its communication activities, namely in the digital space. The Group unveiled its new website , released its new corporate video and increased its social media reach, doubling the number of its LinkedIn followers within a year. In March, the Group received the French e-Transformation ACSEL Award for its successful digital transformation.
In the first quarter of 2015, revenue totaled EUR498 million, representing a 53 percent increase on a reported basis, and included a positive foreign exchange impact of EUR32 million and a EUR96 million contribution from GlobalCollect. Total revenue included EUR337 million generated by the Payment Terminals business and EUR161 million generated by Payment Services.
On a comparable basis [ 1] , revenue was 17 percent above the Q1 2014 figure driven by a double digit growth in both segments. The Group's outperformance in Payment Terminals (+16%) was fueled by its multi-local footprint in strong growth markets, specifically in the United States and China. Payment Services business grew a solid 17 percent, thanks to good overall results, and particularly online payment solutions (+18%), mainly resulting from higher transaction volumes.
Performance for the first quarter, by geography and on a like-for-like basis [1] compared with Q1'14, was as follows:
- : The slowdown in growth in the region is the result of a high basis for comparison in the Payment Terminals business and of the economic situation in Russia. During the first quarter of 2014, the Group had benefited from the accelerated delivery of orders, namely in Italy, in the United Kingdom and in Spain. The Group continued to deliver double digit growth in in-store payment services, notably in Germany, while deploying its centralized payment management solution among retailers in Europe (Axis).
- : The Group achieved stronger-than-expected growth in Latin America as business in Brazil outperformed as a result of the deliveries of large orders for portable terminals to Brazil's largest acquirers. The Group increased its sales activity in the region and reported strong performance in Central America and Columbia.
- Ingenico Group showed strong growth in the region, and above all in China where the Group has demonstrated its leadership quarter after quarter. The Group continued to expand sales across Southeast Asia, particularly in Indonesia where the Group delivered large orders and is now the only provider to serve the four largest banks in the country.
- : The ongoing remarkable growth in North America was mostly fueled by the Group's activities in the United States (+131%) where the Group enjoys strong market dynamics and an increasing sales footprint in all business segments. Following the lead of large retailers, small merchants have confirmed their interest in combining EMV and NFC solutions, while semi integrated retailers have been accelerating the replacement of their non-EMV compliant payment infrastructures. EMV migration also triggers the deployment of point-to-point encryption solutions, a deployment which the Group is well-positioned to cover with its offering, as shown by the contract the Group signed with Stage Stores to equip its 900 outlets.
As expected, the Group showed double digit growth in its online payment activities. Ogone and GlobalCollect benefitted from the growth in online home shopping in Europe and cross-border purchases worldwide. Moreover, GlobalCollect's performance (+19%) was driven by the mechanical impact of higher exchange revenues , in a context of high volatility of some emerging market currencies .
During the first quarter, Ingenico Group has continued to achieve an outstanding performance on both segments and business seems also well oriented for the next months.
The Group provides more specific revenue guidance for 2015 and now expects organic growth greater or equal to 10%, based on pro forma 2014 revenue of EUR1,846 million (including GlobalCollect contribution as of January 1st, 2014).
In 2015, the Group also expects its EBITDA margin to be around 21%, reflecting the evolution of its product and geographical mix and ongoing investment.
A conference call to discuss Ingenico Group's Q1 2015 revenue will be held on April 29, 2015 at 6.00 pm, Paris time. Dial-in number: 01 70 99 32 12 (French domestic), +1 334 323 6203 (for the United-States) and +44 20 7162 0177 (international).
The presentation will also be available on www.ingenico.com/finance .
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 with the performance of Ingenico Group and its subsidiaries. These statements are by their nature subject to risks and uncertainties as described in Ingenico Group registration document (" document de reference "). 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.
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.
Learn more at www.ingenico.com twitter.com/ingenico
Contacts / Ingenico Group
(reflecting new geographic breakdown announced in January 2015 and GlobalCollect contribution as of January 1st, 2014 )
(including GlobalCollect as of January 1st, 2014)
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