Ingenico : announces an adjustment to its objective for revenue growth for H2 2016

The updated Group's objectives for the full year 2016 are:

• Organic revenue growth ≥ 7% (from ≥10% previously)
• EBITDA margin ≥20% (from c.21% previously).

In recent weeks Ingenico Group has been facing a sudden and significant decline in its US market which accounts for approximately 10% of Group revenues. The Group now anticipates a strong decline in sales for this country in the second half of 2016.

This market decline has been caused by a relaxation in the EMV rules. The result of this is a slowing down in the pace of adoption of EMV technology, of which Ingenico Group is one of the main providers. The relaxation of the rules is temporary, and Ingenico Group remains confident in the continued roll-out of EMV in the United States which should continue to progress in 2017 and beyond.

In Brazil, the economic deterioration is affecting the Group's performance. Despite resilient performances in other Latin American countries, the decline in this region for the second half of the year is now anticipated to be greater than in the first half.

Ingenico Group will deliver excellent performances in all other geographies as well as for the ePayments division. Excluding Brazil and the United States, the Group will maintain a double digit growth for the second half of 2016.