This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Edenred: Sustained Growth In The Third Quarter

Financial revenue grew at a brisk pace in the third quarter, rising 21.9% like-for-like. This performance lifted financial revenue for the first nine months by 17.9%.

Latin America continued to benefit from rising interest rates and a growing float [2], leading to 48.6% like-for-like growth in financial revenue during the third quarter, on the back of a 40.0% increase in the first half.

In Europe, the ongoing favorable interest rate comparatives helped to drive 7.3% like-for-like growth in financial revenue in the third quarter, compared with 4.3% in the first half.

CONCLUSION

Issue volume for the first nine months of 2011 totaled €10,844 million, a like-for-like increase of 9.7% that reflected vibrant local economies and robust marketing performances in Latin America (up 20.5%) and soft growth in Europe (up 2.3% excluding the loss of the Consip contract in Italy) in an environment shaped by stable number of people in work.

These favorable business trends should continue in the fourth quarter, although prior period comparatives will be unfavorable in Latin America (due to last year's very strong Christmas period sales) and the BtoC gift voucher weight will be higher in France.

On this basis, the Group confirms its 2011 target of 6% to 14% like-for-like issue volume growth.

Total revenue for the nine-month period came to €746 million, up by a robust 10.3% like-for-like. Operating revenue grew at the same pace as issue volume, reflecting stabilized client fee rates, while higher interest rates drove a sharp rise in financial revenue.

The fourth quarter should see a continuation of this underlying trend, although prior period financial revenue comparatives in Latin America will be higher.

The Group therefore confirms its 2011 target of reporting EBIT of between €340 million and €360 million.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs