Ingenico sets out three year plan

Source: Ingenico

Ingenico (Euronext : FR0000125346 - ING), the leading worldwide provider of payment solutions, today announces its 2010-2013 strategic plan.

The group will hold today at 2:30 pm CET in Paris an investor presentation that will focus on the current and future developments of the payment market and the execution of Ingenico's transformation plan.

With the successful integration of easycash, Ingenico is focused on maintaining its leadership in POS terminals while growing the transactions management and value-added services. This transformation should enable revenue to exceed 1 billion € in 2013. The Group's objective is to multiply revenue from transactions by 3 between 2009 and 2013. As a consequence, recurring revenue should represent circa 40% of total revenue in 2013 compared to 28% in 2009 pro forma. By 2013, EBITDA margin is expected to be above 18% of total revenue.

The evolution of payment ecosystem is driving strong opportunities:

The payment market is structurally growing with a continuous evolution towards electronic payments. Structural changes of the payment ecosystem are also driven by new expectations from consumers and merchants, the growth in emerging countries, the prominent regulation and changes in technology. New trends in shopping experience drive a shift towards offers that combine POS, online and mobile payments and for which the expertise of Ingenico in the complex payment ecosystem is a key differentiator.

Highlights of the 2010-2013 Strategic Plan:

* 2013 revenue above 1 billion € is based on growth in all segments with increasing direct access to merchants, coming from POS to transaction management and value added services.
* Revenue from transactions should triple in 2013 from €84 million in 2009 pro forma. This will be mainly driven by organic growth, the internationalization of the easycash business model outside Germany, and will be fuelled by focused acquisitions.
* EBITDA margin is expected to be above 18% of revenue in 2013 based on further optimized costs of the POS activity combined with operating leverage allowed by transactions related revenues. Synergies from the Group combination with easycash should generate 12 million € incremental EBITDA in 2013.

Philippe Lazare, Chairman & CEO of Ingenico declared: "We are deploying our focused strategy for transformation towards services whilst consolidating our POS leadership. Ingenico is in a unique position to take advantage of a growing payment market. By combining organic growth, internationalization of our services, and focused acquisitions, we will expand recurring revenue contribution up to around 40% in 2013 with strong operating leverage. I am confident that we will deliver our 2013 targets and that we will provide significant value creation for our stakeholders thanks to the synergies between our business segments. "

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