Ingenico Group (Euronext: FR0000125346 - ING), the global leader in seamless payment, today announced its revenue for the first quarter 2019.
Revenue of €753 million, up 12% on a comparable basis1
The first quarter performance is strong and a great start to 2019. The Group performance was fuelled by an acceleration of Retail reaching 11 % and by an outstanding 12 % growth of B&A, boosted by a major market share gain in Brazil against competition, while the B&A operations in mature markets (EMEA, North America) were fully in line with expectations. The performance in Brazil exemplifies the B&A revival program that we launched in November 2018, and which is a key component of the Fit for Growth transformation that started two months ago. The team is fully mobilized to optimize the shift of the B&A business mix towards the emerging markets. To even further accelerate the revival of B&A, I am glad to welcome Matthieu Destot, as the new leader of this Business unit. Matthieu is great addition to the team and is already focused at reinforcing the profitable growth profile of B&A. The Retail team, led by Johan Tjärnberg, delivered a strong performance in Q1. Payone teams are now fully part of Ingenico and integration is progressing well. The three Business Lines posted organic growth ranging from 11 % in Global Online, benefiting from recent customer wins, to 15 % in SMB embodying the quality of our Retail offer to Merchants and 20 % in Enterprise, boosted by a strong performance of our Healthcare vertical, of our Axis platform and early shipments in North America. This Q1 performance enables us to raise our 2019 organic growth to the upper end of the initial guidance.”
In the first quarter of 2019, revenue totalled €753 million, representing a 12% increase on a comparable basis. On a reported basis revenue was 29% higher than in the first quarter of 2018 and included a positive foreign exchange impact of €6 million as well as a positive contribution from the newly consolidated BS Payone and Paymark.
The Retail Business Unit reported a revenue of €435 million, showing an increase of 11% over the quarter on a comparable basis. On a reported basis, revenue increased by 44% during this first quarter and included a positive foreign exchange impact of €2 million and the positive contribution of BS Payone and Paymark. Compared with Q1’18, the various activities performed as follows on a like-for-like basis:
During the quarter, B&A posted a revenue of €318 million, an increase of 12% on comparable basis. On a reported basis the activity increased by 14% and included a positive foreign exchange impact of €4 million. Compared to Q1’18, the various regions performed as follows on a like-for-like basis: