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April 18, 2017

First-Quarter 2017 Revenue

Solid like-for-like growth in operating revenue (up 10.0%)

Total revenue rose by 29.6% as reported to €322.7 million, reflecting:

  • Like-for-like growth of 9.6%
  • Scope effects, mainly related to the acquisitions of Embratec and UTA, contributing 16.6% to growth
  • A slightly positive currency effect over the period, adding 3.4%

Operating revenue increased by 10.0% like-for-like to €304.9 million, reflecting: 

  • Growth of 6.7% in Employee Benefits and an increase of 27.1% in Expense Management (on a like-for-like basis)
  • Balanced geographic distribution of like-for-like growth, with operating revenue up 8.9% in Europe, 11.8% in Latin America and 9.1% in the Rest of the World (on a like-for-like basis)

A more balanced Group profile, with Expense Management accounting for 24.8% of operating revenue versus 12.8% in the prior year

Full-year 2017 target confirmed: like-for-like growth of more than 7% in operating revenue

Significant events since the beginning of 2017: 

  • Edenred became the number two Europe-wide issuer of multi-brand fuel cards by increasing its stake in UTA to 51%
  • The shift to digital accelerated in France with the acquisition of assets related to Moneo Resto, a fully digital meal voucher solution
  • The first initiative was carried out in the Corporate Payment business line with the launch of a new accounts payable management solution in Europe
  • The Group further strengthened its debt profile through the success of its €500 million 10 year bond issue    

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