Resilient, robust

financial performance

Edenred demonstrated its capacity for robust growth early in the year, then limited the erosion of its revenues at the peak of the health crisis, before returning to growth as early as the third quarter. On a like-for-like basis, operating revenue dipped by a mere 2% in 2020, and EBITDA by only 4.6%.

This performance was made possible thanks notably to the quick implementation of a plan to reduce costs by €100 million compared with the 2020 budget. At the same time, the Group took care to preserve its capacity for technological innovation and development, pursue its efforts in the areas of employer appeal and employee engagement, and continue to roll out its corporate social responsibility policy

• 2020 results presented by Bertrand Dumazy

Key financial indicators (in € millions)

In February 2020, for the first time in its history, Edenred decided to index the financial conditions attached to one of its financing instruments to the performance of non-financial indicators, taken from the environmental and social targets set by the Group for 2022 and 2030. Carefully measured each year, they concern:

• combating global warming – Edenred is targeting a 52% cut in greenhouse gas emissions intensity by 2030 compared with 2013.
• promoting healthy and sustainable eating habits – Edenred aims to reach an 85% nutrition awareness rate among merchants and employees using its solutions by 2030;

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Since its IPO in 2010, Edenred has consistently received a Strong Investment Grade credit rating of BBB+/stable outlook from Standard & Poor’s. This rating was confirmed once again in May 2020, proving the solidity of the Group’s financial structure, notably in the context of the pandemic.

Despite the fact that almost all traditional in-person meetings have been cancelled since March 2020, the Group continued to engage regularly with the financial community throughout the year, providing updates on its strategy and performance. Thanks to the use of virtual platforms, Edenred was even able to reach a larger audience than usual, meeting with 1,425 representatives from 413 international financial institutions, holding 17 roadshows and taking part in 15 investor conferences – all remotely. And since the health crisis put paid to the four in-person meetings scheduled with individual shareholders, Edenred kept communication open using an innovative webinar format, as well as through its two annual newsletters.

In March 2021, Edenred’s financial communication efforts were recognized with the Silver Trophy for Best Digital Communication in the SBF 120 stock market index, (excluding CAC 40 firms), awarded by French investment weekly Le Revenu.

Bertrand Dumazy was also named best CEO in the 2020 Institutional Investor international ranking, which recognizes executives each year for their responsible leadership and financial stewardship. As a symbol of the Group's ability to share a clear vision with its investors and shareholders, Edenred was also in second place among the best CFOs in this ranking.

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