Ingenico H1 in line with expectations
Ingenico Group, (Euronext: FR0000125346 - ING), global leader in seamless payment, announced today its results for the six-month period ended as of 30 June 2018.
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• Revenue of €1,229 million
o Up 1% on a reported basis
o Down 3% on a comparable basis and up 3% adjusted from the 2017 one-offs
• Retail grew by 6% on a comparable basis, in line with our expectations
• Banks & Acquirers impacted by a high comparison basis
• EBITDA: €193 million
o Strong improvement of the profitability expected in H2 thanks to a significant operating leverage
• 2018 outlook adjusted: EBITDA at least €545m
o Outlook adjusted from the progressive phasing out of the sales to Iran representing €16 million EBITDA
• Signing of a deal with Sparkassen-Finanzgruppe to create a joint venture combining BS PAYONE and Ingenico Retail in Germany, Austria and Switzerland
o Strengthen the Group’s position as a leader in these three countries, which is one of the largest growth opportunities in Europe
o Accelerate the direct-to-merchants strategy with the integration of a portfolio of more than 250,000 merchants (SMBs and large accounts)
o Joint venture majority owned and controlled by Ingenico Group