Edenred : Feedback from the road show (Switzerland, post-CMD): still many growth drivers
>Medium-term targets probably very cautious and offering strong visibility - At its CMD in October, Edenred issued new medium-term financial targets (Next Frontier plan for 2019-2022) which reflect management’s confidence in the resilience of the business model. We think that these targets are achievable and cautious given the growth drivers (unchanged and numerous) available to the group and its now well-established track record (outperformance vs targets in the prev...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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