Report
Johanna Jourdain

Edenred : Encore une publication (lourdement) sanctionnée

>Résultats S1 et guidance FY24 positifs jusqu’à l’EBITDA - Edenred a publié hier avant Bourse des résultats S1 24 au-dessus des attentes (+2% sur l’EBITDA), dont une progression de la marge de 130 pb et une guidance FY 24 d’EBITDA (fourchette 1.23/1.30 Md€) en ligne avec le consensus à 1 264 M€. Néanmoins, cette publication a été lourdement sanctionnée (-13% à la clôture), pour 2 raisons principalement selon nous : 1/ les ajustements de bas de P&L à venir pour le cons...
Underlying
Edenred SA

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Johanna Jourdain

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