Report
Richard-Maxime Beaudoux

INGENICO GROUP PW removes tension, we maintain our Buy rating

Abandoning the 2018 EBITDA was a lesser evil
We expect Q4 organic revenue growth to be close to Q3
CEO Philippe Lazare should not stand for re-election at the AGM
We still advise investors to play more positive momentum now
Underlying
Ingenico Group SA

Ingenico Group is a business technology company, operating in 125 countries. Co. designs, develops and supplies payment terminals, offering mercantile payment solutions, cross-border and global payment services and certified global service platform. Co.'s services are done around Payment terminals and software; Terminal estate management, security application updates; Connectivity ensuring the terminal-to-bank host connection; Full after-sales service taking charge of every phase in the lifecycle of terminals and software; 24/7, from installation, maintenance & repair to upgrades; Centralization of transactions; End-to-end security - from terminal to bank or processor..

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Richard-Maxime Beaudoux

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