Ingenico Group (Euronext: FR0000125346 - ING) today announces its results for the first quarter of 2017.
This year has begun with a similar picture to the second half of last year, showing strong performances in Europe and Asia Pacific balancing weaker performances in Latin America and North America. ePayments has had a more normalised quarter, following an unusually strong second half last year, although we are comfortable that this division will continue to meet its medium term targets.
Our new customer-centric organisation, which comprises two operating segments across the Group, is now in place to better address their needs. In our Banks and Acquirers business unit, the new structure will allow for better coordination between our central R&D function and our local organisations and will allow our customers to differentiate themselves through our innovative solutions. In our Retail business unit we will be coordinated in supporting our customers as they continue to migrate to digital platforms, while promoting the benefits of our omnichannel offer across the globe.
We are performing in line with our expectations and we look forward to the future with confidence.”
During the first quarter of 2017, the Group achieved a revenue of 594 million euros, an increase of 8% on reported numbers, reflecting a positive increase of 9 million euros. Revenue increased to 411 million euros for Payment Terminals and 183 million euros for Payment Services.
On a comparable basis1, the revenue was 5% over the first quarter of 2016, with an increase of 2% for Terminals, and an increase of 13% for Payment Services.
Within new organizational framework, the Retail Business Unit reported a revenue of 243 million euros, an increase of 3% on reported figures, and including a positive foreign exchange effect of 1 million euros. On a comparable basis, the increase in revenue was 3%, driven by the strong performances of ePayments and India, but balanced by strong comparatives due to the replacement cycles that occurred in the United States and in Europe in 2016.
The Banks and Acquirers Business Unit posted revenue of 351 million euros, an increase of 11% on reported figures and including a positive foreign exchange effect of 8 million euros. On a comparable basis revenue increased by 6%, boosted by first equipment cycles in Asia and Latin America and despite difficult market conditions in Brazil and in the United-States.
Regional performance during the quarter compared to Q1 ’16 at constant scope and exchange rates was as follows:
Following a first quarter which was in line with its expectations, the Group confirms its 2017 full year objectives for a revenue growth of around 7% (at constant scope and exchange rates) and its EBITDA margin slightly increasing compared to 2016 (20.6%).
The first quarter 2017 revenue will be discussed on a Group telephone conference call which will be held on the 26th April 2017 at 6pm Paris Time (5pm UK, and 12.00PM US). The call will be accessible by dialing one of the following numbers: +33 (0)1 70 99 32 08 (from France), +1 646 851 2407 (from the US) and +44 (0)20 7162 0077 (from other countries) with the conference ID of: 961711.
 At constant perimeter and exchange rates
 EBITDA is a non-accounting concept representing operating profit before depreciation, amortisation and provisions, [and disregarding shares distributed to employees and social funds]