Arbitration ruling from the ICSID delivered in Edenred's favor in Hungary

On December 13, 2016, the International Center for Settlement of Investment Disputes (ICSID) delivered its decision in Edenred's arbitration claim against the Hungarian State in the Group's favor.

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Due to a change in the regulatory and tax framework in Hungary related to the issuance conditions of Meal & Food Vouchers, in August 2013, Edenred filed a claim for arbitration against the Hungarian State before the International Center for Settlement of Investment Disputes (ICSID).

The decision delivered at the outcome of the proceedings is favorable to Edenred, and the Hungarian State is ordered to pay Edenred an award of approximately €23 million1, excluding interest.
This decision represents an important step in the process of solving this dispute. The next step consists of making sure that the ICSID's decision is implemented.

Download the press release (PDF, 146.3 KB)

About

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.