Ingenico's revenue up 17.6% in 2006

Source: Ingenico

The Ingenico Group has just booked a record EUR131.3 million in quarterly revenue.

At constant exchange rates and on a like-for-like basis (excluding Moneyline), the figure was 5.1 percent higher than in the record fourth quarter of 2005.

In spite of the projected slowdown forecasted by the Management for the fourth quarter of the year, INGENICO maintained its sequential growth momentum. Asia and Southern Europe were the leading growth drivers, while revenue from Latin America, which was expected to drop off, proved to be virtually stable. Business in Northern Europe did, however, go down following the termination of a major export contract.

It should be recalled that revenue for November and December includes a €6.1 million contribution from the business of MoneyLine. This contribution is in line with the Group's expectations, and demonstrates that the integration process has been successful.

Revenue for the full year totaled €506.5 million, up 17.6 percent on a like-for-like basis (excluding Moneyline) and higher than the 15 percent estimate given when the Group's third-quarter results were announced.

2006 was a major year for INGENICO. The Group achieved market leadership in most of the countries in Latin America and Southern Europe. In Northern Europe, significant new client wins reinforced our leading position in the region.

In France, INGENICO regained market share, winning a number of competitive bids.

A major step forward was taken in the Group's conquest of the U.S. banking market with the certification of our products by First Data Corp, Chase Paymentech, and Nova Payment Solutions.

2006 also enabled INGENICO to extend its target markets, developing its business in prepaid card recharges, contract dematerialization (with Europcar, for example), and contactless and Near Field Communication payment pilots.

In terms of profit from operations, the second half of 2006 will provide further confirmation of the Group's improved performance. In addition, INGENICO can report the start of a sharp decline in net debt att December 31, 2006, due to higher profit margins and greater control over working capital requirements.

Last of all, the Group believes that with its exceptional geographic positioning and technological capabilities, INGENICO will be in an excellent position to benefit from the market growth opportunities available in 2007. In this new year, the Group should be experiencing a return to more standard seasonal business patterns, marked by lower sales in the first half and strong sequential growth in the second half.

"The company is proud to announce outstanding revenue growth of over 17 percent, whereas the initial target we announced last year was 10 percent. This performance confirms the Group's sound fundamentals and its ability to take on this new year under the best possible conditions," commented INGENICO CEO Amedeo d'Angelo.

Comments: (0)