Edenred : Despite limited visibility in the short term, growth potential remains significant
>Q4 2020 probably less affected than expected by the lockdown - Following contact with the company, we are updating our operating assumptions. Broadly speaking, we found management’s tone relatively confident on 2020 forecasts being met, despite the recent deterioration in the coronavirus situation. We maintain unchanged our organic growth assumptions of +0.7%e in Q4 2020 (after +0.9% in Q3, which integrates a deterioration in activity in Europe but a sequential impr...Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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