In 2011, financial revenue grew by a robust 15.2% like-for-like. The increase was attributable to higher interest rates in all regions and the larger float [ 4] in Latin America.In the fourth quarter, financial revenue rose 8.2% like-for-like. The basis of comparison for interest rates became less favorable during the quarter, particularly in Latin America. CONCLUSION The 9.7% like-for-like growth in issue volume in 2011 continued the trend established in 2010, attesting to the robustness and sustainability of the Group's development fundamentals. With this performance, Edenred met its medium-term target of 6% to 14% annual issue volume growth. Total revenue for 2011 amounted to €1.0 billion, representing a like-for-like gain of 9.7%, in line with issue volume growth, that was attributable to dynamic performances by the sales teams in robust emerging economies and to higher interest rates. Based on these factors, EBIT is confirmed to total between €340 million and €360 million for the year. Upcoming events February 23, 2012: 2011 results April 18, 2012: first-quarter revenue May 15, 2012: Annual Shareholders' Meeting - Edenred , which invented the Ticket Restaurant® meal voucher and is the world leader in prepaid corporate services, designs and delivers solutions that make employees' lives easier and improve the efficiency of organizations. By ensuring that allocated funds are used as intended, these solutions enable companies to more effectively manage their:
- Employee benefits (Ticket Restaurant ® , Ticket Alimentación, Ticket CESU, Childcare Vouchers, etc.).
- Expense management process (Ticket Car, Ticket Cleanway, etc.)
- Incentive and rewards programs (Ticket Compliments, Ticket Kadéos, etc.).