arrow-thincheckemaillocationphone

You are here

October 18, 2018

Edenred consolidates its position on the European toll market

Edenred, the world leader in transactional solutions for companies, employees and merchants, announces that its subsidiary UTA has signed an agreement to acquire the Road Account client portfolio from AirPlus. A subsidiary of the Lufthansa group, AirPlus markets corporate toll payment solutions under the Road Account brand. The acquisition will enable UTA to expand its client base on the buoyant European toll market and creates new outlets for additional services.

The corporate toll market is growing rapidly in Europe, particularly in Germany – the continent’s largest such market – where the size of the truck toll network has more than doubled following the recent extension of tolls to all federal roads in the country. With total collected tolls of €4.8 billion in 2017, the German toll market is forecast to generate revenue of €7 billion by 2022.

The number two Europe-wide player specialized in multi-brand fuel cards, toll solutions and maintenance services, UTA generated more than 40% of its 2017 revenue through value‑added services such as tolls. The acquisition of the Road Account client portfolio will enable UTA to consolidate its position in the rapidly expanding toll market. Founded in 2007, Road Account has 2,500 direct clients (mostly located in Germany) and a large network of resellers in Eastern Europe, driving annual operating revenue to more than €4 million in 2017.

In addition to the solutions currently marketed by Road Account, the business’ clients will gain access to the full suite of integrated, Europe‑wide solutions offered by UTA for paying fuel, toll and maintenance costs through a network of nearly 60,000 acceptance points in 40 European countries.

The closing of the transaction, subject to approval by the German and Austrian competition authorities and by Lufthansa’s Corporate Bodies, is expected by the end of December. Road Account clients will be migrated to UTA during the first half of 2019. The acquisition will be accretive to Edenred net profit, Group share immediately.

This acquisition illustrates Edenred’s ability to consolidate the still largely fragmented fleet and mobility solutions market in Europe, which offers significant growth opportunities”, said Antoine Dumurgier, Chief Operating Officer, Fleet & Mobility Solutions at Edenred.

Read the press release

Read more

edenred_china_honored_as_big_data_services_provider_of_the_year

News • Rewards

Edenred China honored as Big Data Services Provider of the...

18 July 2019

edenred_romania_signs_the_romanian_diversity_charter

News • Communications

Edenred Romania signs the Romanian Diversity Charter

16 July 2019

marie_laurence_bouchon_is_appointed_vice_president_communications_and_becomes_a_member_of_the_group_executive_committee

Press release • Appointments

Appointment at Edenred

edenred_introduces_payments_with_apple_pay_in_three_new_countries

News • Development

Edenred introduces payments with Apple Pay in three new...

12 July 2019

edenred_rewarded_at_the_2019_annual_general_meeting_award

News • Rewards

Edenred rewarded at the 2019 Annual General Meeting Award

11 July 2019