Ingenico: H1 earnings up 9% at E87m
(CercleFinance.com) - Ingenico's H1 2020 earnings reached 1,242 million euros, down 8% in organic terms.
On a reported basis, net sales were down 10% y-o-y.
Its H1 2020 EBITDA reached 278 million euros (EBITDA margin of 22.4%), against 252 million euros in H1 2019 proforma (EBITDA margin of 18.4%). Meanwhile, operating profit came in at 131 million euros, compared with 124 million euros.
Net income, group share came in at 87 million euros, against 80 million euros in H1 2019 proforma, up 9% (+8% vs. 80 million euros as reported).
The group has confirmed its targets for FY 2020, now expecting net sales to decline organically in a mid-to-high single-digit range, while it expects an EBITDA margin of over 21% (vs. 20.9% in 2019), and an EBITDA-to-FCF conversion rate of over 50%.
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