SOURCE: INGENICO

October 17, 2007 13:13 ET

INGENICO : Third Quarter 2007 Revenue up 18.9% to €142.7m Acceleration in Revenue Growth

PARIS--(Marketwire - October 17, 2007) -


+-------------------------+
|Third quarter 2007       |
|revenue up 18.9% to      |
|€142.7m                  |
+-------------------------+
|Acceleration in revenue  |
|growth                   |
+-------------------------+
+-------------------------+

In the third quarter of 2007 the Ingenico Group's (unaudited) consolidated revenue totalled EUR 142,7m (EUR 145.1m at constant exchange rates, up 18.9% from last year).

Consolidated revenue in the first three quarters came in at EUR 402,8m (EUR 410,0m at constant exchange rates), i.e. grew 7.4% from last year.

COMPARABILITY

+-------------------------+-------+-------+--------+--------------
------+
|                         |  2007 |  2006 |  Change|Change at
constant  |
|                         |       |       |        |exchange rates
|
+-------------------------+-------+-------+--------+--------------
------+
|Consolidated revenue in  |  142.7|  120.0|  +18.9%|
+20.9%|
|the 3rd quarter (€m)     |       |       |        |
|
+-------------------------+-------+-------+--------+--------------
------+
|Cumulative 9-month       |  402.8|  375.2|   +7.4%|
+9.3%|
|revenue                  |       |       |        |
|
+-------------------------+-------+-------+--------+--------------
------+

+-------------------------+--------------------+
|                         |Change on a         |
|                         |like-for-like basis*|
+-------------------------+--------------------+
|Consolidated revenue in  |              +14.2%|
|the 3rd quarter (€m)     |                    |
+-------------------------+--------------------+
|Cumulative 9-month       |               +3.8%|
|revenue                  |                    |
+-------------------------+--------------------+

* Including Moneyline in the corresponding periods in 2006, and excluding Planet's business in the 3rd quarter of 2007

GROUP'S BUSINESS IN THE THIRD QUARTER

+---------------------+---------------+---------------+--------+
|                     |  Q3 2007 sales|  Q3 2006 sales|  Change|
+---------------------+---------------+---------------+--------+
|  Asia / Asia Pacific|           16.1|            8.9|  +80.9%|
+---------------------+---------------+---------------+--------+
|  Northern Europe    |           23.7|           23.6|       -|
+---------------------+---------------+---------------+--------+
|  Southern Europe    |           32.6|           23.1|  +40.3%|
+---------------------+---------------+---------------+--------+
|  EEMEA*             |           17.0|           12.4|  +38.7%|
+---------------------+---------------+---------------+--------+
|  North America      |           26.1|           29.1|  -10.3%|
+---------------------+---------------+---------------+--------+
|  Latin America      |           27.2|           22.9|  +18.8%|
+---------------------+---------------+---------------+--------+
|  TOTAL              |          142.7|          120.0|  +18.9%|
+---------------------+---------------+---------------+--------+
+---------------------+---------------+---------------+--------+

*Sales are reported on the basis of the invoicing company, with the exception of the EEMEA (Eastern Europe, Middle East and Africa) zone for which a restatement is carried out, since most invoicing is done in France.

- The Asia Pacific zone benefited from the excellent level of business in Australia, as well as growth in sales in China and South-eastern Asia.

- Northern Europe was stable, while the contract with Barclays in the United Kingdom should enter in force in the fourth quarter.

- Southern Europe enjoyed robust growth, in particular due to the contribution of MoneyLine's operations, (EUR 5.3m in the third quarter of 2006). The region also benefited from very sustained business in Spain and Italy notably.

- The EEMEA zone was boosted in the third quarter by the contribution of revenue posted in Turkey by Planet, i.e. EUR 2m, and overall brisk sales in the Middle East.

- North American results have been impacted by the change in the U.S. dollar and as expected, experienced a slight downturn, owing to cyclical reasons in the US, and in the banking segment in Canada.

- Latin America recorded satisfactory business in virtually all countries where the Group operates and thereby reinforced its leadership position in the region.

The sound commercial results accordingly led to an acceleration in growth in the third quarter. By consequence, growth in the first nine months of the year climbed to 9.3% at constant exchange rates from 4.2% at 30 June 2007.

Furthermore, in terms of profitability, the third quarter confirmed the improving trend in the gross margin and current operating profit already recorded in the first half of the year.

KEY FACTS IN THE THIRD QUARTER

As announced on 25 July 2007, the Group wrapped up the acquisition of its Turkish distributor Planet for a sum of EUR 26 million, with EUR 20 million paid cash and EUR 6m paid in Ingenico shares.

Lastly, the Group continued to work on the projected merger between Sagem Monetel's electronic payment system operations and the Group's. Although work carried out in view of this merger has not been completed, the Group believes that progress is being achieved in line with its expectations and hopes it will be able to sign the Contribution Agreement during the first fortnight of November.

GROUP PROSPECTS

Most regions will likely grow further in the fourth quarter, in particular because of the seasonality effect related to the end of the year. The Group, therefore, confirms its objective of organic growth of 7-10% of revenue at constant exchange rates.

+-------------------------+
|About Ingenico           |
+-------------------------+
|Throughout the world,    |
|banks and retailers rely |
|on Ingenico for secure   |
|and expedient electronic |
|transaction acceptance.  |
|Ingenico solutions       |
|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.        |
+-------------------------+

Appendix

GROUP'S BUSINESS IN THE FIRST 9 MONTHS OF 2007

+---------------------+-------------------+-------------------+---
-----+
|          €m         |      Sales at     |      Sales at     |
Change|
+---------------------+-------------------+-------------------+---
-----+
|                     |  30 September 2007|  30 September 2006|
|
+---------------------+-------------------+-------------------+---
-----+
|  Asia / Asia Pacific|               35.8|               24.7|
+44.9%|
+---------------------+-------------------+-------------------+---
-----+
|  Northern Europe    |               69.5|               77.2|
-10%|
+---------------------+-------------------+-------------------+---
-----+
|  Southern Europe    |              102.9|               76.3|
+34.9%|
+---------------------+-------------------+-------------------+---
-----+
|  EEMEA*             |               43.6|               33.2|
+31.3%|
+---------------------+-------------------+-------------------+---
-----+
|  North America      |               71.5|               84.9|  -
15.8%|
+---------------------+-------------------+-------------------+---
-----+
|  Latin America      |               79.5|               78.9|
-|
+---------------------+-------------------+-------------------+---
-----+
|  TOTAL              |              402.8|              375.2|
+7.4%|
+---------------------+-------------------+-------------------+---
-----+
+---------------------+-------------------+-------------------+---
-----+

*Sales are reported on the basis of the invoicing company, with the exception of the EEMEA zone

This information is provided by CompanynewsGroup

Contact Information

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