The French group Edenred
EDEN.PA reported on Tuesday a record annual profit in 2023, slightly above expectations, solid results which it attributes in particular to the “successful deployment” of the Beyond strategic plan.
The meal voucher specialist underlines in a press release that the strong cash flow generation allows it “to seize new external growth opportunities.”
Services and payment platforms such as Edenred or Sodexo EXHO.PA have benefited over the last two years from the high rate of inflation, their gift cards or meal vouchers allowing employers to partially offset the effects of the soaring cost of living without salary increases.
Edenred announces earnings before interest, taxes, depreciation and amortization (Ebitda) of 1.09 billion euros in 2023, exceeding the expectations of analysts who expected 1.08 billion euros, according to a consensus compiled by the company.
The Employee Benefits division, the group’s leading activity in terms of turnover, achieved operational turnover of 1.45 billion euros last year, up 19.5% on a like-for-like basis. thanks to the acquisition of Reward Gateway, consolidated from May 2023.
The group has implemented a dividend of 1.10 euros per share for 2023, an increase of 10% compared to 2022.
Edenred confirms its objectives for 2024, set in its Beyond 2022-2025 strategic plan, namely like-for-like EBITDA growth above 12%, and says it expects continued strong growth in activity. in all regions and all business lines.
(Written by Nathan Vifflin, edited by Sophie Louet)