A dynamic and responsible
growth trajectory
Edenred's 2024 results reflect the relevance of its strategy, in particular the extension of its offer in mobility. Its solid extra-financial performance, combined with its strong commitments, was also recognized at international level.
Strong financial performance
In 2024, Edenred's total revenues will amount to 2.9 billion euros, up 12.2% (on a reported basis) on 2023.
EBITDA reached €1,265 million, up 15.7% year-on-year on a reported basis. EBITDA margin came to 44.3%, up 1.3 points on 2023 on a reported basis, while earnings per share rose by 21.1% to 2.07 euros (from 1.71 euros in 2023).
| 2024 | 2023 | Change on a like-for-like basis | Reported change | |
|---|---|---|---|---|
| Total income | 2,856 | 2,545 | +12.4% | +12.2%* |
| EBITDA | 1,265 | 1,094 | +19.0% | +15.7% |
| EBITDA margin | 44.3% | 43.5% | +2.5 pts | +1.3 pts |
| Net income, Group share | 507 | 425** | +19.3% |
* Based on adjusted 2023 figures, in which discounts granted to customers in Brazil, which had been deducted from sales, are reclassified as operating expenses.
** Excluding ADLC fine of €158m, paid in 2021 and booked in 2023.
Free cash flow for 2024 was 881 million euros (on a like-for-like basis). This reflects strong growth momentum, particularly in the Benefits & Engagement business line.
The gearing ratio reached 1.4x EBITDA, including the acquisitions made in 2024 to develop the Beyond Food and Beyond Fuel businesses. It also takes into account the 664 million euros returned to shareholders in 2024 and a negative currency impact of 224 million euros at December 31.
Edenred's financial strength is reflected in its "A- Outlook Stable" rating at Strong Investment Grade, reiterated in December 2024 by Standard & Poor's.
Continued dividend growth
| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Proposed dividend per share (in euros) | 0.90 | 1.00 | 1.10 | 1.21* |
Edenred's solid extra-financial performance rewards its commitment to its "Ideal" social and environmental responsibility policy. The main extra-financial indicators are improving, particularly in terms of greenhouse gas (GHG) emissions. In 2024, the SBTi formally approved our GHG reduction targets, making Edenred one of the world's 5,000 pioneering companies in this field.
Key CSR indicators 2024
of executive positions held by women (compared with 37% in 2023)
intensity of GHG emissions (scopes 1 & 2, stationary sources) compared with 2013 (compared with -61% in 2023)
of Edenred's users and partner merchants have been made aware of the importance of food and sustainable mobility (compared with 60% in 2023)
Edenred received several extra-financial awards in 2024, illustrating increased international recognition for ESG practices.
Confirmed as a member of the CAC 40 ESG index, Edenred also joined the benchmark Dow Jones Sustainability Index (DJSI) Europe & World, and was included in the S&P Global Sustainability Yearbook for the fourth year running. Edenred's S&P Global index rating has risen by 7 points since 2024.