INGENICO GROUP: Strong resilience in Q1, but the new full year guidance is well below consensus | NEUTRAL | EUR90 vs. EUR96 (-18%)
INGENICO GROUP - NEUTRAL | EUR90 vs. EUR96 (-18%)Strong resilience in Q1, but the new full year guidance is well below consensus
Strong start in Q1 helped soften the blow
Q2 organic growth expected at -20%
New 2020 guidance well below consensus expectations
Acquisition by Worldline still on track, Neutral reiterated
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..
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.
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