October 13, 2017
Third-quarter 2017 revenue
On track for a record year
Edenred has reported third-quarter 2017 total revenue growth of 11.5% to €310 million, reflecting:
- A 12.4% rise in operating revenue, including 7.0% organic growth
- Scope effects arising mainly from the UTA acquisition, adding 6.6% to revenue growth
- A slightly negative 1.7% currency effect over the period
Operating revenue was up 20.4% to €909 million over the first nine months of the year, lifted by:
- Organic growth of 8.0%, including 5.3% for Employee Benefits and 19.3% for Fleet & Mobility solutions
- A positive scope impact of 10.9%
- A positive currency effect over the period of 1.5%
Edenred confirms its EBIT guidance of between €420 million and €445 million for full year 2017, versus €370 million in 2016.
Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “Edenred’s third quarter revenue performance confirms the relevance of our Fast Forward strategy and the Group’s ability to deliver sustainable and profitable growth. The period was marked by an acceleration of growth in Europe – commitment of our sales teams and the diversification of our suite of solutions are producing results – as well as by the good performance achieved in Hispanic Latin America. In this context, we confirm our organic growth targets for 2017, which is set to be another record year for Edenred in terms of revenue, operating EBIT and funds from operations.”
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