French prepaid services company Edenred, Ticket Restaurant’s parent company, posted record results in 2022 and says it anticipates “continuing sustained growth” for the current year, according to a press release published Tuesday. Last year, the group’s net profit amounted to 386 million euros, 23.3% more year-on-year. The gross operating surplus (Ebitda) amounts to 836 million euros, 24.9% more (+23.3% in organic data).
Billing registered growth of 24.8%, to 2,030 million euros, an amount higher than the consensus established by Bloomberg and Factset, which forecast a billing of 1,980 and 1,990 million euros respectively. “On a business volume of 38,000 million euros, our income grew by 25% until crossing the mark of 2,000 million euros. In line with this strong growth in activity, our results this year once again reached new records”, after a year 2021 that had already experienced “historic levels”, CEO Bertrand Dumazy greeted, quoted in the press release.
Growth of more than 12% of the gross operating surplus in 2023
For businesses, the invoicing of the “employee benefits” activity – Restaurant Ticket, Cesu Ticket (employment vouchers for pre-financed services), etc. -, which represents 59% of Edenred’s operating income, increased by 19.9% due to “the good commercial moment and the continued success of Ticket Restaurant’s digital offer, either with key account clients or SMEs”. The “professional mobility solutions” (fuel payment cards for example), the second pole, saw their income grow by 30.2%, while the “complementary solutions” (payment to companies, public social programs, etc.) 21.6% did.
“Based on these results”, Edenred says “to face 2023 with confidence and anticipates the continuation of the sustained growth of its activity in all its geographies and in all its lines of business”. The group also “confirms” its objectives set as part of its Beyond 22-25 strategic plan “for the 2023 financial year, including organic growth in EBITDA of more than +12%”. Edenred -which has 10,000 employees and is present in 45 countries- will also offer the payment of a dividend of one euro per share, compared to 0.90 euros the previous year.
Source: BFM TV
