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October 18, 2019

Third-quarter 2019 revenue

Continued strong growth across all Group business lines and regions

Total revenue of €393 million in the third quarter, up 20.7% as reported and up 13.8% like-for-like :

  • Operating revenue up 20.3% as reported and up 13.2% like-for-like
  • Sharp increase in other revenue of 31.7% as reported and 28.1% like-for-like
  • Contribution from acquisitions to total revenue of 6.0% and a slightly positive currency effect of 0.8% in the third quarter 
     

Total revenue of €1,170 million for the first nine months of 2019, up 18.1% as reported and up 14.3% like for like:

  • Strong operating revenue growth of 18.0% as reported (+14.0% like-for-like) 
  • Increase in other revenue of 20.8% as reported (+22.0% like-for-like) 
  • Contribution from acquisitions to total revenue of 5.0% and a slightly negative currency effect of 1.2%
     

Full-year 2019 guidance confirmed: 

  • EBIT of between €520 million and €550 million 
  • Annual organic growth targets to be met (operating revenue growth of more than 7%, operating EBIT  growth of more than 9%, and growth in funds from operations (FFO)  of more than 10%) 

 

Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: Edenred has maintained its strong growth momentum with another double-digit increase in revenue across all regions and all three of the Group’s business lines. We are fully benefiting from our increasingly digital offering and the strength of our sales force. Continued enhancements to our global technology platform are allowing us to step up the pace of innovation so we can offer the best possible customer and user experience. This quarter, we also reaped the rewards of the good integration of the various acquisitions made over the last few months, such as Easywelfare in Italy, TRFC in the United Kingdom, and CSI in the United States. Thanks to this, we have strengthened Edenred’s position as a digital leader in all of our markets.

 

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