Third-quarter 2015: Like-for-like growth in issue volume of 8.7%

 Key points

• Sustained like-for-like performance over the first nine months of 2015: 

1. Issue volume up 8.7% like-for-like to €13,290 million, reflecting dynamic growth in Latin America (up 13.0%), a good performance in Europe (up 3.7%) and strong growth in the Rest of the World (up 15.1%).
2. Total revenue up 6.8% to €782 million, reflecting a 7.8% rise in operating revenue with issue volume andstable financial revenue.

• Negative currency effects in the third quarter

Outlook     

• In light of recent trends in the currency markets, the Group has adjusted its full-year 2015 EBIT guidance, which now stands at between €340 million and €355 million.
• Edenred confirms its policy of allocating free cash flow on a balanced basis to the payment of dividends, for around 90% of recurring net profit after tax, and to the financing of targeted acquisitions, as well as its annual like-for-like growth targets:

1. 8% to 14% growth in issue volume
2. An operating flow-through ratio of more than 50%
3. More than 10% growth in funds from operations (FFO)

Quarterly information

Appointment of Bertrand Dumazy as Chairman and Chief Executive Officer of Edenred

The Board of Directors of Edenred announced on September 11 the appointment of Bertrand Dumazy as the Group's Chairman and Chief Executive Officer.
He will take up his position at Edenred on October 26. 

Upcoming events

• February 11, 2016: Full-year 2015 results
• April 14, 2016: First-quarter 2016 revenue
• May 4, 2016: Annual Shareholders' Meeting