Ingenico Q1 revenues down on weak sales

Source: Ingenico

Ingenico Group posted first quarter 2007 consolidated revenue (unaudited) of €118.9 mn, down slightly on last year’s €120 mn for the same period.


As expected by the Group, weaker Q1 sales mark a return to the seasonality typical of this industry. Major comparison points with Q1 2006 are:
  • Exceptionally strong H1 2006 sales in Latin America driven by substantial orders before the elections in Brazil.
  • A portion of Q4 2005 sales carried forward to Q1 2006 due to logistic problems encountered by the Group at the time.
  • A negative exchange rate impact of €4.5 mn (3.7%) principally from the North America zone and Mexico.
  • Q1 sales of €5.3 mn contributed by MoneyLine (consolidated as of 1 November 2006).

  • Q1 2007 - 118.9
  • Q1 2006 - 120.0
  • Change - (0.9)%
  • Change at constant exchange rates - 2.8%
  • Change on a like-for-like basis and at constant exchange rates - (1.6)%

Ingenico Group continued to integrate MoneyLine's activity and subsequently won two major bids with McDonald's France and JC Decaux. Ingenico also gains new prestigious banking clients including Crédit-Agricole (Cedicam) in France, Svobodnaya Kassa in Russia, Siteba in Italy and Tasq in the United States.

Over the last two years, the Group has notably undertaken complete restructuring of its production system and product range. Its new Aqua terminal is enjoying substantial success. Aqua is designed for strong emerging economies and enables fast and secure transactions using Unicapt 32, Ingenico's unique secure platform compliant with PCI-PED security standards. Ingenico is proud to announce orders and order pledges in Latin America for a record 190,000 Acqua terminals to be delivered over the next 24 months.

Group outlook

Q2 sales should see strong sequential growth, particularly in Asia, EEMEA (Eastern Europe, Middle East and Africa), Europe and the United States.
Amedeo d'Angelo, Ingenico's CEO comments: "As we announced last January and March, a lower revenue in first quarter typically mlly marks a return to the seasonality of our activity. The second quarter, on the other hand should see strong sequential growth. We confirm that the Group continues to implement all necessary measures to improve profitability as of the first half of 2007".

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