Press release

Finance 21 February 2023

2022 Annual Results

Edenred’s results break new records, driven by top line growth of 25% in 2022


Further acceleration of growth in 2022, notably in the fourth quarter, fueled by the Group’s business and innovation momentum

  • Further penetration in markets still largely underpenetrated across the three business lines, notably in the SME segment
  • Increased use of Edenred solutions to improve employees’ purchasing power, be it Ticket Restaurant® or Beyond Food solutions (employee engagement, mobility)
  • Highly attractive Beyond Fuel offering, illustrated by the success of the fully digital maintenance and toll solutions
  • Total revenue of over €2 billion, up 24.8% as reported and up 21.2% like-for-like versus 2021
    • Operating revenue up 19.2% like-for-like, including 22.3% growth in the fourth quarter
    • Other revenue up twofold to €87 million, driven by strong business volume growth and higher interest rates


Record financial performance in line with top line growth

  • EBITDA of €836 million, up 24.9% as reported and up 23.3% like-for-like
  • EBITDA margin of 41.2%, up 0.7 percentage points like-for-like
  • Net profit, Group share of €386 million, up 23.3%
  • Free cash flow of €881 million, while accelerating technology investments
  • Net debt/EBITDA ratio at 0.4x
  • Proposed dividend of €1.00 per share, up 11%


Extra-financial performance living up to the Group’s ESG commitments

  • Edenred included in the Euronext CAC 40 ESG index
  • 2022 extra-financial targets exceeded
  • Industry-leading ESG ratings


Edenred is ideally positioned to continue generating profitable growth in 2023 and beyond

  • Deployment of the Beyond22-25 plan to further penetrate existing markets and accelerate the implementation of the Beyond Food, Beyond Fuel and Beyond Payment strategies, scaling the Edenred platform to aggregate, orchestrate and distribute more solutions
  • Further investments to strengthen Edenred’s technology leadership and provide increasingly efficient and user-friendly solutions
  • Edenred confirms its Beyond22-25 targets for 2023:
    • Like-for-like EBITDA growth >+12%
    • Free cash flow/EBITDA conversion rate >70% 


Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said:

Business volume of €38 billion pushed our revenue up 25%, past the €2 billion mark. In line with this strong top line growth, our results once again broke new records this year. I would like to congratulate Edenred’s 10,000 employees for their unwavering commitment. They can be happy with this good performance, and proud of the progress we have made toward our extra-financial goals. As the world leader in earmarked funds solutions, Edenred is reaping the rewards of the sustained investments we’ve been making in technology to innovate and disrupt our markets. Our strong business momentum, combined with our relevant, user-friendly solutions, continues to drive new client wins.
Edenred provides concrete solutions in a multitude of areas, including changing work practices, reduced purchasing power, employee engagement, fleet electrification and corporate payment efficiency and security. Our new Beyond22-25 strategic plan is based on organically developing our portfolio of solutions, forming new partnerships and leveraging our ability to seize future external growth opportunities. We’re uniquely positioned to keep penetrating our markets while scaling our platform advantage by aggregating, orchestrating and distributing a growing number of solutions. That’s why we are fully confident in our prospects of generating sustainable and profitable growth in 2023 and beyond.


Edenred's highlights of 2022


Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 52 million users and 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards). 

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility.

Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. 
In 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

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