Elettronica
INGENICO : Outstanding performance in the first quarter of 2014
Outstanding performance in the first quarter of 2014
Paris, April 30, 2014. Ingenico (Euronext: FR0000125346 - ING) announced today its revenue figures for the first quarter of 2014.
*Including the disposal of TransferTo as of January 1, 2013.
** Based on 2013 revenue including the contribution of TransferTo, disposed of in December 2013.
Philippe Lazare, Chairman and CEO of Ingenico, commented: "In the first quarter, Ingenico's business activity has seen remarkable growth across all regions in which we operate. This performance is mostly based on our unique competitive positioning in a stronger market than expected.
Moreover this performance demonstrates the relevance of our multi-local strategy: we have enhanced our leadership in China and in emerging markets, accelerated our deployment in North America and managed to successfully integrate Ogone, leader on digital payments.
By deploying our fast and secure payment solutions across all distribution channels - in-store, on-line and mobile - we have more than ever assumed our role as facilitator for our customers in their interaction with consumers.
All of these factors now enable us to provide a more specific revenue guidance for this year."
Revenue in Q1'14
With Ingenico's European business and Transactions division now combined, Italy and Eastern Europe have been included in the EMEA region with effect from January 1, 2014, reflecting their primary orientation toward Payment Terminals. At the same time, following the disposal of TransferTo in December 2013, the Central Operations division now encompasses ROAM and central procurement. Healthcare revenue is now included in the Europe-SEPA region.
To facilitate assessment of the Group's performance, consolidated revenue for the first quarter of 2014 is compared here with pro forma revenue with effect from January 1, 2013 to reflect the deconsolidation of TransferTo carried out in 2013.
*Reflecting the new regional breakdown and the disposal of TransferTo as of January 1, 2013.
**Based on 2013 revenue including the contribution of TransferTo, disposed of in December 2013.
In the first quarter of 2014, revenue totaled EUR325 million, representing a 7 percent increase on a reported basis. This result included a negative foreign exchange impact of EUR18 million, particularly in relation to Latin America. Total revenue included EUR268 million generated by the Payment Terminal business (hardware, services, and maintenance) and EUR57 million generated by Transaction Services.
On a comparable basis [1] , revenue growth was 20 percent higher than in Q1 2013, driven by a double-digit growth in both segments. The Group's performance in Payment Terminals (up 21 percent) was fueled by its multi-local footprint in a stronger than expected market trends. Transaction Services business increased by 5-point to 14 percent, thanks to good results for in-store and online payment solutions.
All regions contributed in the first quarter of 2014 to the Group's overall strong performance. In addition, Services, Maintenance and Transactions accounted for a steady 30 percent of Group's revenue (excluding TransferTo).
Performance for the quarter, by geography and on a like-for-like basis [1] compared with Q1 2013, was as follows:
Outlook
During the first quarter, Ingenico has achieved an outstanding performance in Payment Terminals, and, in addition to that, the Transaction Services business seems also well oriented in most countries in Europe.
In this context, the Group provides a more specific revenue guidance for 2014. Ingenico expects organic growth [1] of between 10 and 15 percent, based on pro forma 2013 revenue of EUR1,301 million (excluding the contribution of TransferTo, disposed of on December 1, 2013).
As in the second half of 2013, Ingenico intends to accelerate its investments in 2014 in future growth drivers to keep pace with a rapidly evolving market, and restates its expectation that EBITDA [2] margin will exceed or be equal to 21 percent.
Conference Call
A conference call to discuss Ingenico's Q1 2014 revenue will be held on April 30, 2014 at 6.00 p.m., Paris time. Dial-in number: 01 70 99 32 12 (French domestic) or +44 (0)207 1620 177 (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. These data, assumptions and estimates may change or be amended as a result of uncertainties connected in particular with the performance of Ingenico and its subsidiaries. These statements are by their nature subject to risks and uncertainties as described in Ingenico 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 therefore makes no firm commitment on the realization of the growth objectives shown in this release. Ingenico 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.
With more than 20 million terminals in operation in more than 125 countries, Ingenico is a leading figure in payment solutions. Its 4,600 employees across the world help retailers, banks and service providers to optimise and secure their electronic payment solutions, develop their offers and increase sales in their outlets.
More information at www.ingenico.com | @Ingenico .
EXHIBIT:
2013 revenue based on the Group's new structure and consolidation scope
as of January 1, 2014
With Ingenico's European business and Transactions division now combined, Italy and Eastern Europe have been included in the EMEA region with effect from January 1, 2014, reflecting their primary orientation toward Payment Terminals. At the same time, following the disposal of TransferTo in December 2013, the Central Operations division now encompasses ROAM and central procurement. Healthcare revenue is now included in the Europe-SEPA region.
To facilitate the assessment of the Group's performance, consolidated revenue for the first quarter of 2014 is compared here with pro forma revenue with effect from January 1, 2013 to reflect the deconsolidation of TransferTo carried out in 2013.
Pro forma revenue for 2013
2013 pro forma key financial data
The key financial data have been restated, as of January 1, 2013, to reflect the disposal of TransferTo carried out on December 1, 2013 ("2013 pro forma") and presented on an adjusted basis (restated to reflect Purchase Price Allocation expenses recognized on acquisitions and divestitures).
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