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April 22, 2021

First-quarter 2021 revenue

Edenred delivers organic growth across all business lines and all regions.

Encouraging start to the year despite tighter lockdown measures in many countries

 

  • Operating revenue of €363 million, up 3.6% excluding the currency effect and changes in the scope of consolidation (like-for-like), and down 5.1% as reported
  • Total revenue of €373 million (+3.7% like-for-like)

 

Back to organic growth across all business lines and all regions, driven by innovation, agility and strong sales momentum 

  • Like-for-like operating revenue up 4.2% in Europe, 3.4% in Latin America and 0.8% in the Rest of the World
  • Success of the digital Employee Benefits offering, which is particularly well adapted to the health situation and remote working (more than 100 partnerships with meal delivery platforms in 16 countries, including Uber Eats and Deliveroo since 2018)
  • Continuation of the strong sales momentum and the development of the “Beyond Fuel” offer within Fleet & Mobility Solutions
  • Restart and implementation of earmarked funds programs aimed at supporting sectors and individuals hard hit by the crisis
  • Ability to forge partnerships in the North American corporate payments market, such as with Citi and Sage in 2021

 

Full-year growth prospects confirmed despite the uncertainties related to the ongoing health crisis

  • A still challenging health situation currently observed in several major countries such as France and Brazil 
  • A better environment expected for the second half of the year, but the timing of the exit from the health crisis remains uncertain 
  • Edenred nonetheless confirms its ability to generate like-for-like EBITDA growth in 2021 of minimum 6%

 

Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said:  "Edenred reported an encouraging start to the year, continuing the rebound that began last summer. Against a backdrop of heightened health restrictions in many countries in which we operate, the shift back to organic growth across all of our business lines and regions is a real source of satisfaction. We continue to demonstrate agility, dynamic sales performance and innovation in deploying solutions, but also in forging partnerships in response to the specific needs arising from the Covid crisis as well as more structural trends such as the development of remote working, digitalization, the emergence of more responsible behaviors and digitalized payment. Although the health situation remains uncertain, we are confident in our ability to increase full-year EBITDA by a minimum of 6% on a like-for-like basis."
 

Read the press release
 

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