Edenred: Sustained Growth In The Third Quarter
Issue Volume
Q1 Q2 H1
2010 2011 2010 2011 2010 2011
In EUR millions
France 641 659 607 617 1,248 1,276
Rest of Europe 1,135 1,148 1,183 1,232 2,318 2,380
Latin America 1,301 1,628 1,536 1,742 2,837 3,370
Rest of the world 97 119 115 120 212 239
TOTAL ISSUE VOLUME 3,174 3,554 3,441 3,710 6,615 7,264
Q1 Q2 H1
Change Change Change Change Change Change
reported L/L* reported L/L* reported L/L*
In %
France 2.9% 2.9% 1.7% 1.7% 2.3% 2.3%
Rest of Europe 1.1% -2.0% 4.1% 1.3% 2.7% -0.3%
Latin America 25.1% 20.5% 13.4% 21.5% 18.8% 21.0%
Rest of the world 22.1% 23.1% 3.9% 17.1% 12.2% 19.8%
TOTAL ISSUE VOLUME 11.9% 9.0% 7.8% 10.9% 9.8% 10.0%
(Table continued)
Q3 September end (YTD)
2010 2011 2010 2011
In EUR millions
France 518 512 1,766 1,788
Rest of Europe 1,107 1,112 3,425 3,492
Latin America 1,488 1,836 4,325 5,206
Rest of the world 114 120 327 359
TOTAL ISSUE VOLUME 3,227 3,580 9,843 10,844
Q3 September end (YTD)
Change Change Change Change
reported L/L* reported L/L*
In %
France -1.3% -1.3% 1.2% 1.2%
Rest of Europe 0.4% -1.3% 1.9% -0.7%
Latin America 23.4% 19.4% 20.4% 20.5%
Rest of the world 5.6% 23.8% 9.9% 21.2
TOTAL ISSUE VOLUME 10.9% 9.1% 10.2% 9.7%
Operating Revenue
Q1 Q2 H1
2010 2011 2010 2011 2010 2011
In EUR millions
France 36 36 33 34 69 70
Rest of Europe 79 81 73 78 152 159
Latin America 78 94 91 100 169 194
Rest of the world 15 17 17 16 32 33
OPERATING REVENUE 208 227 214 229 422 456
Q1 Q2 H1
Change Change Change Change Change Change
reported L/L* reported L/L* reported L/L*
In %
France 1.7% -1.1% 0.0% 0.6% 0.7% -0.3%
Rest of Europe 1.6% -1.1% 7.9% 7.5% 4.6% 3.0%
Latin America 19.8% 17.4% 10.4% 19.5% 14.7% 18.5%
Rest of the world 15.2% 10.0% -3.5% 9.7% 5.2% 9.8%
OPERATING REVENUE 9.4% 6.6% 6.8% 11.7% 8.1% 9.2%
(Table continued)
Q3 September end (YTD)
2010 2011 2010 2011
In EUR millions
France 32 31 101 101
Rest of Europe 70 71 222 230
Latin America 89 107 258 301
Rest of the world 16 12 48 46
OPERATING REVENUE 207 221 629 678
Q3 September end (YTD)
Change Change Change Change
reported L/L* reported L/L*
In %
France -2.5% 0.7% -0.3% 0.0%
Rest of Europe 2.3% 2.8% 3.9% 3.0%
Latin America 20.0% 18.8% 16.6% 18.6%
Rest of the world -24.0% 14.4% -4.6% 11.4%
OPERATING REVENUE 7.2% 10.3% 7.8% 9.6%
Financial Revenue
Q1 Q2 H1
2010 2011 2010 2011 2010 2011
In EUR millions
France 5 5 5 5 10 10
Rest of Europe 8 7 8 8 16 16
Latin America 6 9 6 9 12 17
Rest of the world - 1 1 1 1 1
Financial Revenue 19 22 20 23 39 44
Q1 Q2 H1
Change Change Change Change Change Change
reported L/L* reported L/L* reported L/L*
In %
France 4.2% 4.3% 12.0% 12.0% 8.0% 8.0%
Rest of Europe -4.9% -0.9% 3.0% 4.9% -1.0% 2.0%
Latin America 47.3% 38.8% 34.5% 41.0% 40.6% 40.0%
Rest of the world 10.2% 10.0% 5.1% 17.5% 7.5% 14.0%
Financial Revenue 13.9% 13.0% 15.7% 19.0% 14.8% 16.0%
(Table continued)
Q3 September end (YTD)
2010 2011 2010 2011
In EUR millions
France 5 5 14 15
Rest of Europe 8 8 23 24
Latin America 6 9 19 27
Rest of the world 1 1 2 2
Financial Revenue 19 24 58 68
Q3 September end (YTD)
Change Change Change Change
reported L/L* reported L/L*
In %
France 13.6% 13.6% 9.8% 9.8%
Rest of Europe 11.5% 3.6% 3.1% 2.5%
Latin America 50.7% 48.6% 44.0% 42.8%
Rest of the world 18.9% 35.8% 7.4% 14.1%
Financial Revenue 25.0% 21.9% 18.2% 17.9%
Total Revenue
Q1 Q2 H1
2010 2011 2010 2011 2010 2011
In EUR millions
France 41 41 38 39 79 80
Rest of Europe 87 88 81 87 168 175
Latin America 84 102 97 109 181 211
Rest of the world 15 18 18 17 33 35
Total Revenue 227 249 234 251 461 501
Q1 Q2 H1
Change Change Change Change Change Change
reported L/L* reported L/L* reported L/L*
In %
France 2.0% -0.4% 1.0% 1.9% 1.6% 0.7%
Rest of Europe 1.0% -1.1% 7.5% 7.3% 4.1% 2.9%
Latin America 21.7% 18.9% 12.0% 20.9% 16.5% 20.0%
Rest of the world 15.0% 10.0% -3.2% 10.0% 5.3% 10.0%
Total Revenue 9.8% 7.2% 7.5% 12.3% 8.6% 9.8%
(Table continued)
Q3 September end (YTD)
2010 2011 2010 2011
In EUR millions
France 36 36 115 116
Rest of Europe 77 80 245 254
Latin America 96 116 277 328
Rest of the world 17 13 50 48
Total Revenue 226 245 687 746
Q3 September end (YTD)
Change Change Change Change
reported L/L* reported L/L*
In %
France -0.5% 2.3% 0.9% 1.2%
Rest of Europe 3.2% 2.9% 3.8% 2.9%
Latin America 22.0% 20.8% 18.4% 20.3%
Rest of the world -21.9% 15.4% -3.9% 11.8%
Total Revenue 8.7% 11.3% 8.6% 10.3%
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