Edenred : Solid fundamentals but the valuation is high
>Acceleration in organic trends in Q2 with a rebound in Brazil - Yesterday evening, Edenred reported H1 operating revenue growth of +11.6% organic (excluding Venezuela), which suggests an acceleration in Q2 (+13.4%) vs Q1 (+9.8%). All of the regions and divisions supported this pace of growth. But we particularly noted the return to positive territory staged by the employee benefits division in Brazil in Q2, after several quarters during which the economic climate too...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.