Edenred confirms its objectives, growth remains strong in the third quarter

PARIS (Agefi-Dow Jones) – Edenred, a specialist in payment solutions in the world of work, confirmed all its objectives on Friday, following sustained organic growth in the third quarter.

"In the wake of the previous quarters, Edenred again showed strong growth in the third quarter," said group finance director Patrick Bataillard at a conference call with reporters.

For the period July September, the total income of the group emerged 393 million euros, up 20.7% year on year in data published and 13.8% on comparable basis. The company has benefited from slightly positive currency effects of 0.8 percentage points, while the effects of perimeter supported growth up to 6 percentage points.

Operating revenue amounted to 377 million euros, up 13.2% in organic data. Other income (ex-financial revenue) reached 16 million euros, reflecting organic growth of 28.1%. Net oprationnel business is gnr by properly service vouchers mission prpays speak, while other revenues are from the investment of the cash group.

Over nine months, Edenred's total revenue reached 1.17 billion euros, up 18.1% in terms of published data and 14.3% in organic variation.

The group specializing in employee benefits, professional mobility solutions and payments to companies has confirmed that it wants to publish an EBIT (operating income before other expenses and income) between 520 and 550 million euros this year, compared with 461 million in 2018.

Edenred also confirmed the objectives set in its "Fast Forward" strategic plan, namely an organic growth in its operating turnover of more than 7%, an organic increase in operating EBIT of more than 9%, as well as an organic growth of cash flow before other expenses and revenues higher than 10%.

Patrick Bataillard has also confirmed that Edenred, among other issuers of securities restaurants, the subject of a survey of the Competition Authority. "We have always shown great transparency on this subject," he said, indicating that this survey was already mentioned in the appendix to the company's half-yearly report and in its reference document 2018.

The chief financial officer explained that the last exchanges with the Authority's investigative services had taken place at the beginning of 2019. Edenred now expects a decision of the Competition Authority by the end of 2019. Query on the the maximum amount that Edenred would risk in the event of a fine, Patrick Bataillard did not give estimates.

Last week, Le Figaro reported that the Competition Authority suspected the leading restaurant debtors, Edenred, Sodexo, Natixis Intertitles and Up Group to have agreed to "lock the market" by setting up a system. allowing them to regularly change information about their business strategy. The facts in question would cover a period from 2002 at the end of 2015, when Edenred's current leadership was not yet in place.

Edenred will hold a dedicated investor day on October 23 where the group will unveil its new mid-term ambitions.

-Julien Marion, Agefi-Dow Jones; +33 (0) 1 41 27 47 94; [email protected] ed: LBO

EDENRED FINANCIAL RELEASES:

http://www.edenred.com/fr/medias-journalistes/communiques-de-presse

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