INGENICO GROUP: Trading Update
(Thomson Reuters ONE) -
Ingenico Group today announces an adjustment to its objective for revenue growth
for H2 2016. This adjustment is due to two elements: the rapid and temporary
market decline in the US caused by the change in the EMV rules, and persistent
difficult macroeconomic conditions in Brazil. In all other geographies, as well
as for the ePayments division, Ingenico Group will deliver excellent
performances. The Group highlights the continued solid growth dynamics in Asia
Pacific and in Europe. The ePayments division will also deliver strong growth in
the second half of the year, enabling the Group to accelerate its transition to
on-line and mobile services activity.
The updated Group's objectives for the full year 2016 are:
* Organic revenue growth[1] >= 7% (from >=10% previously)
* EBITDA margin[2] >=20% (from c.21% previously).
In recent weeks Ingenico Group has been facing a sudden and significant decline
in its US market which accounts for approximately 10% of Group revenues. The
Group now anticipates a strong decline in sales for this country in the second
half of 2016.
This market decline has been caused by a relaxation in the EMV rules. The result
of this is a slowing down in the pace of adoption of EMV technology, of which
Ingenico Group is one of the main providers. The relaxation of the rules is
temporary, and Ingenico Group remains confident in the continued roll-out of EMV
in the United States which should continue to progress in 2017 and beyond.
In Brazil, the economic deterioration is affecting the Group's performance.
Despite resilient performances in other Latin American countries, the decline in
this region for the second half of the year is now anticipated to be greater
than in the first half.
Ingenico Group will deliver excellent performances in all other geographies as
well as for the ePayments division.Excluding Brazil and the United States,the
Group will maintain a double digit growth for the second half of 2016.
Philippe Lazare, the Chairman and Chief Executive Officer of Ingenico Group
commented:
"The elements which have come at the same time have led us to take a more
prudent approach to our objective for the end of this year. This temporary
situation, to which we are giving our fullest attention, does not in any way
affect the fundamentals of our strategy and the objectives which we have laid
out for 2020."
A conference call will be held today, Tuesday 6th September 2016, at 8.00am CET
which can be reached via the following numbers: 01 70 99 32 08 (for France),
+1 646 851 2407 (for the United States) and +44 (0)20 7162 0077 (for the UK and
International). The conference call reference number is 959982.
Pursuant to the commission implementing regulation (EU) 2016/1055 of 29 June
2016 laying down implementing technical standards with regard to the technical
means for appropriate public disclosure of inside information and for delaying
the public disclosure of inside information in accordance with Regulation (EU)
No 596/2014 of the European Parliament and of the Council, this press release
may contain inside information and has been sent to the authorized broadcaster
of Ingenico Group on September 6th at 07.00am. 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 (for a detailed description of these risks and
uncertainties, please refer to the "Risk Factor" section of Ingenico Group's
Registration Document available at www.ingenico.com).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 objectives shown in
this release. 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.
www.ingenico.com twitter.com/ingenico
Contacts
Investors Investors Communication
Stéphanie Constand-Atellian Caroline Alamy Coba Taillefer
VP Investor Relations Investor Relations Manager External Communication
stephanie.constand(at)ingenico.com caroline.alamy(at)ingenico.com Manager
(T) / 01 58 01 85 68 (T) / 01 58 01 85 09 coba.taillefer(at)ingenico.com
(T) / 01 58 01 89 62
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[1]On a like-for-like basis at constant exchange rates.
[2] EBITDA is not an accounting term; it is a financial metric defined here as
profit from ordinary activities before depreciation, amortization and
provisions, and before expenses for shares distributed to employees and
officers.
PDF VERSION:
http://hugin.info/143483/R/2039787/760494.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: INGENICO via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.09.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 492719
Anzahl Zeichen: 6857
contact information:
Town:
Paris
Kategorie:
Business News
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