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Press release

Finance 22 October 2020

Third-quarter 2020 revenue

Edenred returns to organic growth in the third quarter, demonstrating resilience in the face of the crisis and a capacity to rebound.

Rebound in business in the third quarter amid a gradual easing of lockdown measures worldwide

Total revenue of €357 million in the third quarter, up 0.5% like-for-like after falling by 15.5% in the second quarter:

  • Growth in operating revenue of 0.9% like-for-like in the third quarter, reflecting a return to Group growth in Europe (+7.3% like-for-like vs. -13.1% in the second quarter) and mixed improvements in the economic and health situation in Latin America (-7.6% like-for-like vs. -20.4% in the second quarter)
  • Other revenue down 9.9% like-for-like due to lower interest rates than in 2019


Total revenue for the first nine months of the year of €1,053 million, down 3.0% like-for-like, demonstrating the resilience of Edenred’s business model in the face of the crisis, and down 10.0% as reported due to a negative currency effect (-7.4%)

This performance was achieved thanks to a digital innovation strategy positioning Edenred well to take advantage of the growth trends that emerged or intensified at the height of the health crisis:

  • an increase in mobile payments and direct payments on meal delivery platforms,
  • greater use of remote working by companies,
  • a desire from governments to provide targeted stimulus to the economy,
  • more responsible consumption,
  • growing interest in automated corporate payments.


2020 outlook

  • Business excellence and digitalization initiatives will contribute to business growth in the fourth quarter 
  • In line with its expectations, the Group confirms its €100 million cost savings plan for 2020
  • Edenred is narrowing its full-year 2020 EBITDA target to between €550 million and €600 million, despite new uncertainties generated by the health crisis in Europe


Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “After proving its agility and resilience at the height of the health crisis, Edenred demonstrated its capacity to return rapidly to growth in the third quarter of the year. While much of Latin America was still in lockdown, the performances recorded in Europe attested to both Edenred’s sales dynamic and the validity of our solutions in a recovering economic environment. In a world being transformed by digital technology, Edenred provides innovative, practical solutions to changing work practices, enhances the efficiency of organizations and public and private social programs, and helps people adopt more responsible behavior. Despite the uncertainties associated with ongoing developments in the public health situation, we’re confirming our full-year targets for 2020.


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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