Edenred reports Q3 revenue below expectations, confirms outlook
By Mathias de Rozario
Oct 24 (Reuters) -French vouchers and benefit cards provider Edenred EDEN.PA reported on Thursday a double-digit revenue growth below expectations for the third quarter of the year due tothe deterioration of the economic environment.
It reiterated its full-year EBITDA outlook but with a tighter range than previously announced.
WHY IT'S IMPORTANT
For years Edenred started diversifying by opening itself to foreign markets and extending its offer to be less impacted by economic environment deterioration.
In the second quarter, Endenred saw its growth falling below 20% for the first time since the end of 2022.
KEY NUMBERS
Edenred total revenue came at 682 million euros ($734.92 million), up 11.5% year-on-year, compared with the 695 million euros in the company-provided consensus with an operating revenue of 619 million euros, up 10.8% year-on-year.
The group EBITDAis now expected to come between 1,245 million euros and 1,285 million euros compared with the 1,230 million euros to 1,300 million euros previously announced.
($1 = 0.9280 euros)
Reporting by Mathias de Rozario
Editing by Marguerita Choy
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