July 23, 2019
First-half 2019 results
Continued double-digit growth across all business lines, and sharp increase in earnings
Double-digit growth in first-half earnings, as reported and like-for-like:
- Total revenue up 14.6% like-for-like and up 16.8% as reported to €777 million
- EBITDA up 14.6% like-for-like and up 23.0% as reported to €310 million
- Net profit, Group share up 17.9% to €146 million
Like-for-like, Edenred's performance in first-half 2019 exceeded its annual growth targets:
- Operating revenue: up 14.4% (annual target: above 7%)
- Operating EBIT : up 14.9% (annual target: above 9%)
- Funds from operations (FFO) : up 22.8% (annual target: above 10%)
Confident about its outlook for the second half of the year, Edenred is expecting record EBIT of between €520 million and €550 million for full-year 2019, compared with €461 million in 2018.
Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “In keeping with the good momentum seen in 2018, Edenred has recorded another strong increase in earnings in the first half of 2019. Operating revenue grew by double digits in each of the business lines and across all of the Group’s regions. We are seizing new opportunities created by recent Group developments in the area of digital and product innovation. The successful integration into our various business lines of the companies acquired in recent months is enhancing our offering to meet growing and fast-changing needs at work. Confident in our prospects for the second half of 2019, we are targeting record EBIT of between €520 million and €550 million for the full year.”
