Press release

Finance 23 July 2019

First-half 2019 results

Continued double-digit growth across all business lines, and sharp increase in earnings

Double-digit growth in first-half earnings, as reported and like-for-like:

 

  • Total revenue up 14.6% like-for-like and up 16.8% as reported to €777 million
  • EBITDA up 14.6% like-for-like and up 23.0% as reported to €310 million
  • Net profit, Group share up 17.9% to €146 million

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Like-for-like, Edenred's performance in first-half 2019 exceeded its annual growth targets:

  • Operating revenue: up 14.4% (annual target: above 7%)
  • Operating EBIT : up 14.9% (annual target: above 9%)
  • Funds from operations (FFO) : up 22.8% (annual target: above 10%)

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Confident about its outlook for the second half of the year, Edenred is expecting record EBIT of between €520 million and €550 million for full-year 2019, compared with €461 million in 2018.

Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “In keeping with the good momentum seen in 2018, Edenred has recorded another strong increase in earnings in the first half of 2019. Operating revenue grew by double digits in each of the business lines and across all of the Group’s regions. We are seizing new opportunities created by recent Group developments in the area of digital and product innovation. The successful integration into our various business lines of the companies acquired in recent months is enhancing our offering to meet growing and fast-changing needs at work. Confident in our prospects for the second half of 2019, we are targeting record EBIT of between €520 million and €550 million for the full year.

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.

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Matthieu SANTALUCIA

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By phone: +33 (0)6 83 54 12 10