Edenred Reports 14.4% YoY Increase in Q1 Ebitda, Exceeds Consensus Estimates, Confirms 2025 Objectives

Edenred reported a 14.4% increase in Ebitda in comparable data for the first half of the year, exceeding analyst expectations. The company's Ebitda reached €654 million, compared to a consensus of €636 million. Edenred attributed the growth to operational leverage and its "Fit for Growth" efficiency program. The company confirmed its 2025 targets, including a minimum 10% Ebitda growth in comparable data.

Edenred, a leading global provider of employee benefits and mobility solutions, has reported a significant increase in EBITDA for the first half of 2025. The company's EBITDA reached €654 million, a 14.4% increase compared to the same period last year, surpassing analyst expectations of €636 million [2]. This robust performance can be attributed to operational leverage and the company's "Fit for Growth" efficiency program.

The company's total revenue for the first half of 2025 amounted to €1,451 million, up 6.4% like-for-like compared to the same period last year. This growth was driven by double-digit like-for-like growth in Mobility and Benefits & Engagement, as well as significant growth in Latin America and the Rest of the World [2]. The company also reported strong cash generation, with funds from operations before other income and expenses (FFO) increasing by 17.0% to €468 million [2].

Edenred's CEO, Bertrand Dumazy, commented on the company's performance, stating, "Edenred reports further sustained top-line growth, led by robust performances in Latin America and by the rapid expansion of our Beyond solutions in both Benefits & Engagement and Mobility. These results demonstrate the relevance of our diversified business model, both in terms of activities and geographical footprint. In a less buoyant economic environment, we are delivering double-digit organic EBITDA growth. In addition to the operating leverage generated through business growth, we are demonstrating our agility in implementing our operational efficiency plan and streamlining our business portfolio. In this uncertain context, we are reconfirming our target of organic EBITDA growth of over 10% for full-year 2025" [2].

Edenred continues to expand its offerings for HR departments and fleet managers, increasing the proportion of its revenue generated by Beyond Food and Beyond Fuel solutions. The company has also forged strategic partnerships and capitalized on its sales efficiency to continually expand its customer base [2]. These efforts, combined with the company's operational efficiency plan, have contributed to its strong financial performance.

The company's A- rating by S&P Global Ratings and its net debt of €2,351 million at the end of June 2025 further underscore its financial stability [2]. Edenred's "Fit for Growth" efficiency program has proven to be effective in optimizing the company's operating performance and driving sustainable growth.

References:
[1] https://www.prnewswire.com/news-releases/centinel-spine-prodisc-total-disc-replacement-grows-47-worldwide-in-second-quarter-2025-setting-new-revenue-record-302509675.html
[2] https://www.marketscreener.com/news/edenred-first-half-2025-results-ce7c5cddde8ff620