Edenred upgrades its full-year 2022 outlook after another quarter of strong growth
Edenred records another quarter of strong growth, reflecting the relevance of its solutions and the strength of its go-to-market:
- Third-quarter operating revenue of €484 million, up 23.0% as reported (+19.1% like-for-like) versus third-quarter 2021
- Double-digit like-for-like revenue growth in all regions and all business lines
- Driven by strong business volume and higher interest rates in all regions, other revenue more than doubled, from €11 million to €23 million
- Total revenue of €506 million, up 25.2% as reported (+21.4% like-for-like)
- For the nine months ended September 30, 2022, the Group’s total revenue stood at €1,428 million, up 22.9% as reported (+19.2% like-for-like) versus the same period in 2021
Edenred’s ESG commitments recognized once again:
- Edenred was included in the Euronext CAC 40 ESG index on September 19– recognition of the Group’s commitment to sustainable development
- Moody’s ESG Solutions increased Edenred’s score by 5 points, raising its status from “Robust” to “Advanced”
Edenred is well positioned to benefit from the increasing scale effect of its platform and generate sustainable and profitable growth in 2022 and beyond:
- Accelerated investments in technology and product innovation to provide corporates, users and merchants with best-in-class experiences and value-added services
- Powerful go-to-market strategy to further penetrate markets, and in particular tackle the SME segment
- Continued expansion of the product portfolio with the rollout of Beyond Food, Beyond Fuel and Beyond Payment solutions, fostering cross-selling and unlocking new growth opportunities
Thanks to its steady growth quarter after quarter, and to the increased attractiveness of its solutions, Edenred is upgrading its 2022 EBITDA outlook to between €810 million and €840 million[1] (compared with a target range of between €770 million and €820 million announced on July 26, 2022).
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Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “Edenred’s strong growth momentum continues, quarter after quarter. By enhancing our portfolio of solutions and accelerating our technology investments, we continue to increase the efficiency of our digital platform, providing our clients with best-in-class experiences increasingly tailored to their needs. Our solutions, which are synonymous with higher purchasing power for employees and greater efficiency for fleet managers, are even more relevant in today’s inflationary environment. In these circumstances, our powerful go-to-market enables us to speed up our market penetration, notably in the SME segment. We are confident as the year draws to an end and are upgrading our EBITDA outlook. We will present our strategic plan and prospects for the coming three years next week.” |
[1]Calculated based on an assumption of an average euro/Brazilian real exchange rate for the fourth quarter of 2022 equal to the closing spot rate on September 30, 2022.
