Strong like-for-like improvement in financial results in the first half of 2015, with:
- Issue volume up 9.6% like-for-like to €9 110 million, reflecting dynamic growth in Latin America (up 15.2%), a good performance in Europe (up 3.5%) and strong growth in the Rest of the World (up 16.4%).
- Total revenue up 7.8% like-for-like to €539 million, reflecting a 9.1% rise in operating revenue with issue volume and a stable financial revenue.
Sustained improvement in financial results on a reported basis, with:
- EBIT up 11.5%.
- Recurring earnings per share up 10.7%.
Annual like-for-like targets confirmed.
First-half key facts
Increased stake in ProwebCE
On March 25, 2015, Edenred and the ProwebCE management team joined forces to acquire 100% of the capital of ProwebCE, the French leader in solutions for works councils.
Finalization of the acquisition of a 34% stake in Union Tank Eckstein (UTA) in Germany
On February 27, 2015, Edenred finalized its acquisition of a 34% stake in UTA, a leading issuer of fuel cards for heavy vehicle fleets in Europe. The transaction represents an investment of around €150 million and will be accretive to earnings as from 2015.Placement bond issue.
New partnership with Daimler in Brazil
With more than 25 years of experience in Brazil's fuel card market via Ticket Car®, its flagship solution, Edenred partners with the Daimler group to launch MercedesServiceCard, a service card co-branded with Ticket Car® and intended for the Brazilian road transportation market.
Further progress in the shift to digital
At the end of first-half 2015, digital solutions accounted for 66% of the Group's issue volume.