Edenred First-Quarter 2023 Revenue
Edenred starts the year with further strong revenue growth, leveraging its platform advantage to the full.
Edenred begins 2023 with even stronger revenue growth than in 2022.
- Total revenue of €557 million, up 26.8% as reported (+25.7% like-for-like)
- First-quarter operating revenue of €519 million, up 21.8% as reported (+20.4% like-for-like) versus first-quarter 2022
- Double-digit like-for-like revenue growth across all geographies and all business lines
- Other revenue tripled year-on-year to €38 million from €13 million in first-quarter 2022, driven by both high business volumes and rising interest rates in all regions
Determined to increase its commitment on climate-related disclosure, Edenred has become an official TCFD1 supporter.
Edenred is reaping the rewards of the sound execution of its Beyond strategy and the success of its innovation policy.
- Edenred is fully benefiting from its technology investments, which allow it to provide increasingly efficient and user-friendly solutions
- Further strong business momentum, notably among SMEs, in markets that remain largely underpenetrated in the Group’s three business lines
- Employee Benefits: increased attractiveness of Ticket Restaurant® and Beyond Food solutions (employee engagement, mobility) aimed at improving employees’ purchasing power
- Fleet & Mobility: continued success of the Beyond Fuel offering, notably driven by the innovative and fully digital maintenance and toll management solutions
- Complementary Solutions: extending Edenred CSI’s offer through the successful integration of IPS
Edenred confirms its targets for 2023:
- Like-for-like EBITDA growth >+12%
- Free cash flow/EBITDA conversion rate >70%2
Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “Edenred delivered an excellent first quarter this year, continuing the performance achieved in 2022. Our revenue grew by more than 25%, once again proving our ability to closely align our solutions with the changing needs of companies and their employees.
In tune with transformations in the working world, our digital specific-purpose payment programs enhance the well-being and purchasing power of users, while improving the attractiveness and efficiency of companies. We can leverage our powerful digital platform to develop or integrate new services, for example in the field of employee engagement with the acquisition of GOintegro. And, thanks to our technology investments, we can ensure our interfaces are particularly easy to use, reliable and ergonomic.
After an excellent start to the year, we are confident in our prospects for the rest of 2023.”