In the first quarter of 2018, revenue totaled €581 million, representing a 2% decline on a reported basis, including a negative foreign exchange impact of €40 million. On a comparable basis, revenue was 5% lower than in the first quarter of 2017. Adjusted from the impact of the Indian demonetization process and the European PCI V1 to V3 migration, revenue would have grown 3% on a comparable basis.
“The beginning of the year was perfectly in line with our expectations. The Bambora integration and its end-to-end solutions opens up new market opportunities and reinforces the acceleration of the Group growth profile,” Philippe Lazare, chairman and CEO of Ingenico Group, said. “The resilient trends that we foresee in Retail and the pipeline of projects of Banks & Acquirers allow us to expect a gradual improvement of the growth dynamic reflected in a positive organic growth as early as the second quarter. In this environment we are approaching the coming quarters with confidence and we reiterate our full-year 2018 guidance.”
In 2018, Ingenico Group expects an EBITDA of between €545 million and €570 million. The guidance factors in a negative impact from currencies of c. €25-30 million. Given the high comparison basis in the first half and the projects pipeline, the phasing of the year will result in a soft first half and a stronger second half.