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February 22, 2019

2018 Annual Results

Another record year fueled by double-digit organic growth in all regions and in all business lines

Acceleration of growth in 2018: 


  • Total revenue of €1,378 million, up 11.9% like-for-like (up 4.4% as reported)
  • Operating EBIT margin: up 2.0 points to 30.9% 
  • EBIT up 17.5% like-for-like (up 7.3% as reported) to €461 million 
  • Net profit, Group share: €254 million (up 5.2% as reported)
  • Recommended dividend of €0.86 per share, representing a payout ratio of 80% of net profit, Group share
  • Strong free cash flow generation (€435 million) enabling a reduction of net debt to €659 million (versus €696 million at end-2017) after €196 million dedicated to acquisitions


Like-for-like, Edenred’s performance in 2018 was significantly higher than the annual growth targets set for the medium term:

  • Operating revenue: up 13.3% (annual target: above 7%)
  • Operating EBIT: up 23.5% (annual target: above 9%)
  • Funds from operations (FFO): up 17.0% (annual target: above 10%)


Thanks to its business excellence, innovation capabilities, global technology platform and targeted acquisitions, Edenred begins the new year with confidence. As the global leader in payment solutions for the working world, the Group expects to achieve its annual organic growth targets set for the medium term again in 2019.

Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “The successful implementation of our Fast Forward strategic plan has once again enabled us to deliver record results for the year. The double-digit organic growth we achieved in 2018 reflects our ability to win new clients, develop new solutions and boost the development of the companies we’ve acquired. By launching numerous innovations, notably in the areas of mobile payment and app-to-app payment, which have already been deployed in 12 countries, Edenred has taken up position at the forefront of digitalization, for the benefit of all our clients, users and partner merchants. Looking ahead, thanks to our ability to increase our market penetration, capitalize on our recent acquisitions and innovate in order to differentiate and enhance our portfolio of solutions, we are confident that we will continue to deliver profitable and sustainable growth.

Upcoming events

  • April 18, 2019: First-quarter 2019 revenue
  • May 14, 2019: Annual Shareholders Meeting
  • July 23, 2019: First-half 2019 results
  • October 18, 2019: Third-quarter 2019 revenue
  • October 23, 2019: Capital Markets Day in London

Read the press release

Discover the highlights of 2018 in video

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