Edenred : Previews: what to expect from Q3 earnings (18/10) and the CMD (23/10)?
>Still dynamic organic growth in Q3? - We expect Q3 revenues to be dynamic at € 390m est. (+20% reported, consensus € 386m), buoyed by both the integration of the recent acquisitions (+6.0%e, including CSI, TRFC and Easy Welfare) as well as an improvement in financial revenues (increase of +€ 3m est.) and by organic growth in operating revenues that is still just as dynamic. We expect organic growth of +13.1%e in Q3 (+14.0%e in 9M), above the consensus forecast of +11...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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