PARIS, October 17, 2012 /PRNewswire/ --
Issue volume rose by 9.8% to €11.9 billion in the first nine months of 2012, reflecting:
- Strong momentum in Latin America , up 21.1%.
- A slight 1.9% growth in Europe , excluding Hungary  in a difficult economic environment.
- Sustained growth in the rest of the world, up 10.4%.
Total revenue rose by 7.2% to €767 million over the period, illustrating:
- An 8.9% increase in operating revenue with issue volume  .
- Slight increase in operating revenue without issue volume.
- 4.0% growth in financial revenue, reflecting the gradual impact of decreasing reference rates in most countries.
- Edenred confirms its full-year targets of 6% to 14%  like-for-like growth in issue volume over the medium term and of €355 million to €375 million in 2012 EBIT.
(All growth rates are on a like-for-like basis)
First nine First nine (in EUR millions) months 2011 months 2012 % change Reported Like-for-like Issue volume 10,844 11,864 +9.4% +9.8% Operating revenue with issue volume 564 604 +7.1% +8.9% Operating revenue without issue volume 114 94 -16.9% +0.3% Total operating revenue 678 698 +3.1% +7.5% Financial revenue 68 69 +0.4% +4.0% Total revenue 746 767 +2.8% +7.2%
Issue volume for the first nine months of 2012
Up 9.8% like-for-likeIssue volume ended the first nine months of the year at €11,864 million, up 9.8% like-for-like and in line with first-half trends. The reported increase was 9.4%, reflecting the positive 0.9% impact of changes in scope of consolidation and a 1.3% negative currency effect over the period. Like-for-like growth in issue volume by region
First Second nine Like-for-like growth First quarter quarter Third quarter months in issue volume 2012 2012 2012 2012 Latin America +22.1% +21.5% +19.9% +21.1% Europe -0.3% -3.8% +0.1% -1.4% Europe excluding Hungary +2.7% -0.2% +3.6% +1.9% Rest of the world +13.6% +9.8% +7.9% +10.4% TOTAL +10.4% +8.5% +10.5% +9.8%
- Latin America: €6.3 billion in nine-month issue volume
- Europe: €5.2 billion in nine-month issue volume
- Rest of the world: €424 million in nine-month issue volume
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