Ingenico: 2018 EBITDA below expectations
(CercleFinance.com) - The Ingenico group said on Tuesday evening, that, as part of a preliminary publication, it expects 2018 EBITDA of 485 million euros (margin of 18.
3%), against 510 million euros expected, due to the underperformance of Banks & Acquirers.
In addition, organic growth reached 5% in Q4, again below expectations. FY 2018 revenues reached 2,643 million euros (+2% organic growth, +5% as reported).
"In 2018, Retail grew significantly, accelerating its growth in the second half of the year. This performance confirms the relevance of our acquisitions and our organic developments. However, Banks & Acquirers did not perform as expected which prevents us from achieving our 2018 guidance. Ingenico Group acknowledges these results and is implementing action plans in order to improve its future performance. In 2019, the Retail division will keep on growing... Regarding Banks & Acquirers we are implementing the cost reduction plan already announced." said Nicolas Huss, Ingenico's CEO.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
3%), against 510 million euros expected, due to the underperformance of Banks & Acquirers.
In addition, organic growth reached 5% in Q4, again below expectations. FY 2018 revenues reached 2,643 million euros (+2% organic growth, +5% as reported).
"In 2018, Retail grew significantly, accelerating its growth in the second half of the year. This performance confirms the relevance of our acquisitions and our organic developments. However, Banks & Acquirers did not perform as expected which prevents us from achieving our 2018 guidance. Ingenico Group acknowledges these results and is implementing action plans in order to improve its future performance. In 2019, the Retail division will keep on growing... Regarding Banks & Acquirers we are implementing the cost reduction plan already announced." said Nicolas Huss, Ingenico's CEO.
Copyright (c) 2019 CercleFinance.com. All rights reserved.