Home Media News & press releases First-quarter 2023 revenue

Press release

Finance 20 April 2023

First-quarter 2023 revenue

Edenred starts the year with further strong revenue growth, leveraging its platform advantage to the full

Edenred begins 2023 with even stronger revenue growth than in 2022

  • Total revenue of €557 million, up 26.8% as reported (+25.7% like-for-like)
  • First-quarter operating revenue of €519 million, up 21.8% as reported (+20.4% like-for-like) versus first-quarter 2022
  • Double-digit like-for-like revenue growth across all geographies and all business lines
  • Other revenue tripled year-on-year to €38 million from €13 million in first-quarter 2022, driven by both high business volumes and rising interest rates in all regions

Determined to increase its commitment on climate-related disclosure, Edenred has become an official TCFD  (Task Force on Climate-Related Financial Disclosures) supporter

Edenred is reaping the rewards of the sound execution of its Beyond strategy and the success of its innovation policy

  • Edenred is fully benefiting from its technology investments, which allow it to provide increasingly efficient and user-friendly solutions
  • Further strong business momentum, notably among SMEs, in markets that remain largely underpenetrated in the Group’s three business lines
  • Employee Benefits: increased attractiveness of Ticket Restaurant® and Beyond Food solutions (employee engagement, mobility) aimed at improving employees’ purchasing power
  • Fleet & Mobility: continued success of the Beyond Fuel offering, notably driven by the innovative and fully digital maintenance and toll management solutions
  • Complementary Solutions: extending Edenred CSI’s offer through the successful integration of IPS

Edenred confirms its 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: 

Edenred delivered an excellent first quarter this year, continuing the performance achieved in 2022. Our revenue grew by more than 25%, once again proving our ability to closely align our solutions with the changing needs of companies and their employees. In tune with transformations in the working world, our digital specific-purpose payment programs enhance the well-being and purchasing power of users, while improving the attractiveness and efficiency of companies. We can leverage our powerful digital platform to develop or integrate new services, for example in the field of employee engagement with the acquisition of GOintegro. And, thanks to our technology investments, we can ensure our interfaces are particularly easy to use, reliable and ergonomic. After an excellent start to the year, we are confident in our prospects for the rest of 2023.


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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