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INGENICO GROUP: First quarter 2020 – Resilient Q1’20 despite the first Covid-19 impacts

Written by Customer Service on . Posted in Public Companies.

Press ReleaseParis, 22nd April 2020Revenue of €658 million, up 4% on a comparable basis1
Retail growth at 7% impacted by Covid-19 from mid-March 2020
B&A performance stable despite early Covid-19 impact in Asia,
benefiting from its global footprint Launch of a strong & holistic action plan to mitigate revenue impacts
and preserve profitability and cash – in full motion as early as Q22020 outlook updated after Covid-19 impact
Mid to high single digit organic decline in FY’20 based on several recovery scenarios
New Covid-19 action plan already in full execution to preserve profitability and cash
on top of Fit for Growth program (Total of €135m EBITDA impact in 2020)
FY’20 EBITDA in percentage of net revenue above 21% (20.9% in FY’19)
Above 50% Free Cash-Flow conversion rate maintained
No dividend payment proposal at the AGM of 11th June, 2020Ingenico Group (Euronext: FR0000125346 – ING), the global leader in seamless payments, today announced its revenue for the first quarter 2020.Nicolas Huss, Chief Executive Officer of Ingenico Group, commented: “In the context of the Covid-19 crisis, the Group posted a truly resilient performance in the first quarter, achieving 4 % organic growth. We actually performed above expectations until mid-March when we felt the impact of the spread of Covid-19 triggering store closures, travel halts and confinements. Based on our current analysis of the Covid-19 situation, we expect our second quarter to be down around 20%.
In the light of this unprecedented health crisis, our first responsibility was to protect the health of our employees whilst continuing to operate the business and support our clients 24/7. But this crisis is economic in nature too and we therefore launched, as early as March, a strong and holistic action plan to quickly adapt our cost structure, to protect profitability and cash throughout the year, without hampering our long-term growth profile and rebound capacity. Finally, all Fit for Growth initiatives are being executed and our teams are fully mobilized to overcome the current situation. Our long-term growth drivers remain intact and I am convinced that we should come out of the current crisis even stronger, for the benefit of all our stakeholders.”Key figures

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