February 12, 2015
Edenred announces strong like-for-like growth of its 2014 results
Despite the unfavorable currency effect, Edenred has announced sustained growth of its like-for-like results for 2014 and achievements that are in line with its growth strategy.
The key figures
- A +12.0% increase in issue volume to €17,713 billion*
- An operating flow-through ratio of 57% *
- A +14.4% increase in EBIT to €343 million*
- A +15.1% increase in funds from operations to €261 million*
- The unfavorable currency effect over the year, resulting in stable reported EBIT.
*Like-for-like growth
Main achievements in 2014
The Employee benefits activity, which is the Group's strongest pillar, representing 81% of issue volume, grew strongly in 2014 (+10.6%, on a like-for-like basis). This growth was achieved by winning new clients, by launching new solutions and by changes in the regulatory landscape.
The Expense management activity grew even more strongly (+24.1% on a like-for-like basis). As the Group's second most important pillar, its strong development is due to a number of acquisitions (including UTA, a leading issuer of fuel cards for heavy vehicles fleets in Europe), business partnerships, and the launch of news solutions in the business travel segment.
The shift to digital of the Group’s solutions continues apace, with an issue volume from digital solutions that reached 62% by the end of the year.
Edenred confirms its annual like-for-like objectives
- 8% to 14% growth in issue volume
- An operating flow-through ratio of more than 50%
- More than 10% growth in funds from operations (FFO)
