SOURCE: INGENICO

April 23, 2008 13:07 ET

INGENICO : Robust revenue growth in Q1 2008, up 11.2%* to €128 m

NEUILLY SUR SEINE, FRANCE--(Marketwire - April 23, 2008) - The Ingenico Group recorded (unaudited) consolidated revenue of EUR 128 million in the first quarter of 2008, an increase of 7.7% at current exchange rate and 11.2% at constant exchange rate, compared to revenue of EUR 118.9 million in the first quarter of 2007.

Sagem Monétique, which will be integrated as of the second quarter of 2008, also posted very encouraging revenue growth.

Philippe Lazare, Ingenico's CEO, declared: "The group posted solid revenues this first quarter, significantly improved compared to last year. Sagem Monetique also delivered strong performance during the quarter. The two companies have been working together for a few weeks and have launched the integration process, which is going ahead very smoothly. We are confident that the new company will rapidly benefit from our combined strengths".

A. COMPARISON

+----------------------+---------+---------+--------+--------------------+
|          (€m)        |  Q1 2007|  Q1 2008|  Change|Change at constant  |
|                      |         |         |        |exchange rates      |
+----------------------+---------+---------+--------+--------------------+
|  Consolidated revenue|    118.9|    128.0|   7.7 %|              11.2 %|
+----------------------+---------+---------+--------+--------------------+
In spite of the seasonality that is a normal feature of the first quarter, Ingenico recorded buoyant sales, particularly in emerging markets and North America.

* At constant exchange rate

B. GROUP'S BUSINESS IN Q1

+---------------------+--------------------+-------------------+-----------+
|         (€m)        |       Sales at     |      Sales at     |  Change **|
+---------------------+--------------------+-------------------+-----------+
|                     |  March 31st , 2007*|  March 31st, 2008*|           |
+---------------------+--------------------+-------------------+-----------+
|  Asia / Asia Pacific|                 6.3|               11.8|     +91.2%|
+---------------------+--------------------+-------------------+-----------+
|  Northern Europe    |                20.2|               17.8|      -3.3%|
+---------------------+--------------------+-------------------+-----------+
|  Southern Europe    |                30.8|               29.2|     - 5.2%|
+---------------------+--------------------+-------------------+-----------+
|  EEMEA*             |                11.0|               25.2|      +129%|
+---------------------+--------------------+-------------------+-----------+
|  North America      |                23.7|               24.6|     +14.6%|
+---------------------+--------------------+-------------------+-----------+
|  Latin America      |                26.9|               19.4|     -29.4%|
+---------------------+--------------------+-------------------+-----------+
|  TOTAL              |               118.9|              128.0|     +11.2%|
+---------------------+--------------------+-------------------+-----------+
+---------------------+--------------------+-------------------+-----------+
*Sales are reported on the basis of the invoicing company, with the exception of the EEMEA zone (Eastern Europe, Middle East, Africa) for which the figures have been restated as most invoicing is done in France.

** At constant exchange rates

- Asia/Asia Pacific: Sales growth was above 90% in the quarter, due to very strong demand in the region, where Ingenico has gained visibility. Significant growth was recorded in China and South East Asia particularly, but also in Australia where deliveries were larger than expected.

- Northern Europe: Sales growth was down slightly in the region after exceptionally strong sales in the fourth quarter. Second quarter sales are expected to post strong sequential growth.

- Southern Europe: Business was down slightly in Italy and Spain, as expected, after the excellent sales in these two countries in the first quarter of 2007. Sales were up in France, with the exception of the banking terminal business of MoneyLine Banking Systems.

- EEMEA: Eastern Europe, the Middle East and Africa enjoyed exceptional rates of growth, particularly in Nigeria due to deliveries under the lottery terminals contract. Very strong sales growth (+EUR 6m) was also recorded in Turkey, of which EUR 3m derived from the acquisition of our Turkish distributor, Planet.

- North America: The region was also characterized by strong growth (+14.6%) as a result of a sharp rebound in business in Canada and above all of a robust performance in the U.S, where the Group has been able to extend its franchise, particularly in the banking industry.

- Latin America: Latin America saw a substantial drop in sales, particularly in comparison with the exceptional first quarter of 2007, the strongest quarter of last year. Delivery delays were also a factor, due in part to strikes in the Brazilian customs service in March 2008. The second quarter is expected to record strong sequential growth and annual sales are expected to be satisfactory.

During the quarter, Ingenico also succeeded in winning new business that will have a substantial impact on revenue growth in the next few quarters. Among the most significant developments were Ingenico's Class A certifications with Global Payments, First Data and Tasq, which should lead to an increase in market share in North America in the course of the year. In the EEMEA region, the Group signed significant contracts with Lukoil in Russia and HDFC in India.

C. SAGEM MONETIQUE's (unaudited) BUSINESS IN Q1

In reporting its first quarter revenue on April 11, 2008, the Safran Group disclosed that sales of its consolidated terminal business amounted to EUR 42m, versus EUR 32m in 2007, a growth of more than 30%. It is important to highlight however that these figures only include the companies consolidated by Safran. Taking into account all the businesses transferred to Ingenico at the General Assembly on March 14, 2008, sales would amount to approximately EUR 52m (unaudited) for the first quarter of 2008 and approximately EUR 38m (unaudited) for the first quarter of 2007.

D. OUTLOOK

Revenue for the second quarter should record very strong sequential growth, as it will include sales from the businesses transferred by Sagem Sécurité and benefit from the seasonality of Ingenico's sales. In operational terms, the Group is working on the integration of the two businesses, which is proceeding very smoothly.

+-------------------------+
|About Ingenico           |
+-------------------------+
|Throughout the world,    |
|businesses rely on       |
|Ingenico for secure and  |
|expedient electronic     |
|transaction acceptance.  |
|Ingenico products        |
|leverage proven          |
|technology, established  |
|standards and            |
|unparalleled ergonomics  |
|to provide optimal       |
|reliability, versatility |
|and usability. This      |
|comprehensive range of   |
|products is complemented |
|by a global array of     |
|services and             |
|partnerships, enabling   |
|businesses in a number of|
|vertical sectors to      |
|accept transactions      |
|anywhere their business  |
|takes them. For more     |
|information about        |
|Ingenico, please visit:  |
|www.ingenico.com.        |
+-------------------------+
Contacts:FININCOM

Jérôme Goaër

+33 1 40 71 32 95

j.goaer@finincom.com

Valérie Sabineu

+33 1 40 71 32 71

v.sabineu@finincom.com

BRUNSWICK

Jérôme Biscay

INGENICO GROUP

Max-Paul Sebag

Communication, Groupe Ingenico

+33 1 53 96 83 83

190-192 avenue Charles de Gaulle F-92200 Neuilly-sur-Seine

Tel. + 33 1 41 44 68 56

max-paul.sebag@ingenico.com

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