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Ingenico: Q1 sales up 4% LFL at E658m

( - Ingenico's Q1 2020 sales came in at 658 million euros, up 4% on a like-for-like basis.

Sales were up 3% as reported compared to the first quarter of 2019. This incorporates a negative FX effect of 4 million euros and the impact of the sale of its Healthcare business in France.

Its Retail business unit generated Q1 sales of 341 million euros, up 7% like-for-like. Q1 sales increased by 5% as reported.

The Group has revised its outlook for 2020. It now expects net sales to be fall in a mid-to-high single digit range, compared with 4% to 6% organic growth previously. It forecasts an EBITDA margin of over 21% of net sales (vs. 20.9% in 2019), compared to EBITDA above 650 million euros previously, along with over 50% of its EBITDA converted into FCF, unchanged.

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