Ingenico: cuts FY targets
(CercleFinance.com) - Ingenico Group has said that it is now targeting FY 2018 EBITDA of 510 million euros, instead of at least 545 million euros previously, integrating a disappointing performance of Banks & acquirers, which has been penalised by effects of its geographical mix.
The conversion rate of EBITDA to adjusted FCF is expected at between 40% and 45% against at least 45% previously, and the group's new guidance now integrates between 30 million and 35 million euros of negative FX effects, against 25 million to 30 million euros previously.
In Q3 2018, the payment solutions group's sales reached 687 million euros, up 15% as reported. In comparable terms, growth reached 8%, driven by a 12% growth in the Retail business unit.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The conversion rate of EBITDA to adjusted FCF is expected at between 40% and 45% against at least 45% previously, and the group's new guidance now integrates between 30 million and 35 million euros of negative FX effects, against 25 million to 30 million euros previously.
In Q3 2018, the payment solutions group's sales reached 687 million euros, up 15% as reported. In comparable terms, growth reached 8%, driven by a 12% growth in the Retail business unit.
Copyright (c) 2018 CercleFinance.com. All rights reserved.