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April 14, 2015

First-quarter 2015: sustained growth in issue volume

Edenred announces a sustained growth in issue volume, up 10% like-for-like at the first-quarter.

On 14 April 2015, the Group released its results for the first quarter.

 

 

 Key points: 

 

  • Sustained organic growth in the first-quarter, with:
  1. Issue volume up 10% like-for-like to €4,553 million, reflecting dynamic growth in Latin America (up 17.3%), a good performance in Europe (up 2.7%) and strong growth in the Rest of the World (up 16%).
  2. Total revenue up 8% like-for-like to €263 million, reflecting a 9% rise in operating revenue with issue volume and a 2.7% rise in financial revenue.
  • Slightly positive currency effect over the period 
  • Objective of 8% to 14% growth in issue volume over the medium term confirmed First-quarter

 

Key facts: 

  • Finalization of the acquisition of a 34% stake in Union Tank Eckstein (UTA)

On February 27, 2015, Edenred finalized its acquisition of a 34% interest in UTA, a leading issuer in the European fuel card market for heavy vehicle fleets. The transaction represents an investment of around €150 million.

  • Placement bond issue  

On March 3, 2015, Edenred successfully placed a €500 million 10-year 1.375% bond issue. The bond issue was placed with around 200 international institutional investors and was more than five times oversubscribed, confirming the market's confidence in the Group's credit quality.

  • Edenred increases its 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.

 

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