(News Bulletin 247) – Edenred announced on Thursday that it had achieved an “excellent” first quarter, thanks in particular to the dynamism of its digital activities, a performance which allows the inventor of the restaurant ticket to confirm its objectives for 2023.
The services and payments group reported this morning total revenue of 557 million euros for the first three months of the year, up 26.8% in published data (+25.7% in comparable data).
Its operating revenue stood at 519 million euros in the first quarter, up 21.8% in reported data (+20.4% like-for-like) compared to the first quarter of 2022.
In its press release, the company says it has recorded “double-digit” organic growth in all its geographies and all its business lines.
After record results in 2022, Edenred thus confirms its objective of organic EBITDA growth above 12% this year, accompanied by a conversion rate of its EBITDA into free cash flow (FCF) of more than 70 %.
After gaining 1.4% at the opening of the Paris Stock Exchange, the title slowed down around 9:30 a.m. to only show a gain of 0.1%.
This increase brings its growth since the start of the year to nearly 14%, ie a performance slightly lower than that of the SBF 120 index (+15.6%).
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