Terminal Maker Ingenico Anticipates Revenue Of 1 Billion Euros Annually By 2013

Ingenico S.A. anticipates generating 1 billion euros ($1.2 billion) in annual revenue by 2013, the France-based point-of-sale terminal maker announced June 9 during an investor’s presentation.

The company reported 2009 revenue of $953.6 million (see story). 

Much of the forecasted growth will come from recurring revenue, such as transactions from easycash Beteiligungen GmbH, a Germany-based payment processor Ingenico bought in 2009 (see story). 

“By combining organic growth, internationalization of our services and focused acquisitions, we will expand recurring revenue contribution up to around 40% in 2013,” Philippe Lazare, Ingenico chairman and CEO, said in a statement.

Those targets are achievable, Gil Luria, vice president of equity research at Wedbush Securities Inc., a Los Angeles-based equity research firm, tells PaymentsSource, noting about 30% of Ingenico’s 2010 annual revenue will come from recurring transactions. “They can get to 40% as they offer more services,” he says.