Edenred released a Q1 17 trading update with numbers ahead of our estimates as well as the market consensus. Please note, the company has stopped sharing issue volume details from 2017 onwards. The operating revenue increased by 10% on a lfl basis (vs Q4 16: 10.0%, Q3 16: 9.9%; our estimate: 8.6%), largely driven by strong growth in both employee benefits (6.7% yoy; c.65% of group revenue) and the expense management business (27.1% yoy; c.25% of group revenue). In employee benefits, all geogr
21 Apr 2017
Good Q1 results
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Good Q1 results
Edenred SA (EDEN:WBO) | 0 0 1.2% | Mkt Cap: 6,153m
- Published:
21 Apr 2017 -
Author:
Nishant Choudhary -
Pages:
3
Edenred released a Q1 17 trading update with numbers ahead of our estimates as well as the market consensus. Please note, the company has stopped sharing issue volume details from 2017 onwards. The operating revenue increased by 10% on a lfl basis (vs Q4 16: 10.0%, Q3 16: 9.9%; our estimate: 8.6%), largely driven by strong growth in both employee benefits (6.7% yoy; c.65% of group revenue) and the expense management business (27.1% yoy; c.25% of group revenue). In employee benefits, all geogr