1.2.2 2021 Targets

Edenred is particularly well positioned to seize the opportunities created by a number of promising trends revealed or reinforced by the health crisis, which affect the world of work:

  • A more connected, digital and mobile-first world;
  • A more remote-working world;
  • A world seeking socially and environmentally responsible solutions;
  • A world where B2B payments are increasingly automated and digital.

By leveraging these changes and its unique position as an intermediation platform that connects 50 million users with 2 million partner merchants daily to meet their essential needs (Eat, Move, Care, Pay), Edenred has kept its growth potential intact despite the economic impact of the health crisis. With its proven agility, Edenred will continue to activate the business drivers designed to further penetrate its markets, develop new solutions and deploy its innovations widely and rapidly. In addition to these internal development avenues, the Group also intends to pursue its targeted acquisition strategy and has over €1 billion in firepower for this purpose.

This is how Edenred intends to step up the pace and generate sustainable and profitable growth in a post-Covid world.

Early 2021 has nonetheless shown that the uncertainties surrounding the health crisis persist, with new local lockdowns and restrictive measures in Europe, including in France, Germany and the United Kingdom, and that the economic and health situation remains downbeat in Latin and North America.

Edenred will continue to prove its resilience in the first quarter of the year, despite an unfavourable basis of comparison, and expects to be able to grow more strongly in the second quarter, when it will notably benefit from a more favourable comparison basis.

A gradual return to an economic situation close to normal – thanks notably to a vaccination rate that should enable restrictive measures to be eased considerably by the middle of the year – will support Edenred’s growth in the second half.

Despite the uncertain health situation, Edenred intends to achieve like-for-like EBITDA growth in 2021 of minimum 6%.

This objective is based on the assumptions described above, the characteristics of Edenred and the markets on which the Group operates (see section 1.1), and the implementation of its strategy (see section 1.2.1). This objective draws on data, assumptions and estimates that the Group considers reasonable at the date of publication of this document. It was prepared on a basis comparable to the historical financial information and consistent with the accounting policies of the Group.

 

1.3 2020 highlights and 2021 financial calendar

1.3.1 2020 highlights[1]

Health crisis
  • Edenred took action to support its teams, its partner merchants, its clients and their employee users through the health crisis arising from the Covid-19 epidemic (Press release dated April 7, 2020).

 

Corporate Social Responsibility
  • Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, co-signed an op-ed column in Le Monde to share a strong conviction: "Let's put the environment at the heart of the economic recovery”. He thus calls for collective mobilization to make economic recovery an accelerator of the ecological transition – along with more than 90 signatories, executive managers of large French and international companies. Created at the instigation of Jean-Laurent Bonnafé, Director and Chief Executive Office of BNP Paribas and President of the EpE (Entreprises for the Environment) association, this op-ed highlight in particular that « the challenge is today to limit the effects of the social and economic consequences of the Covid-19 epidemic, notably by mobilizing financial resources to ensure the capacity of French businesses to rebound in an inclusive and resilient manner». (News dated June 2, 2020)

 

Edenred ten years
  • On July 2, 2010, Edenred was officially born following the demerger of the Accor group’s Hospitality and Services businesses and the Group was listed on the Paris stock exchange for the first time : this marked the beginning of a new chapter in a story already decades old. Since then, Edenred has become a services and payments platform, being the everyday companion for people at work, connecting over 50 millions users and 2 millions partner merchants via more than 850,000 corporate clients. On July 2, 2020, Edenred celebrates ten years of a successful digital transformation and commitment led by 10,000 employees who enthusiastically share the Group’s values: passion for customers, respect, imagination, simplicity and entrepreneurial spirit. (News dated July 2, 2020)

 

[1] Press releases are posted on www.edenred.com, here (https://www.edenred.com/en/investisseurs-actionnaires/information-reglementee/communiques-de-presse) and here (https://www.edenred.com/en/medias-journalistes/actualites-et-communiques-de-presse)