First-Quarter 2018 Revenue
Sustained growth across all businesses in both Europe and Latin America, in line with 2017.
Total income (formerly total revenue) up 12.1% like-for-like to €332 million:
13.8% like-for-like rise in operating revenue, consistent with full-year 2017 trends:
Favorable outcome regarding the reclassification of Brazilian funds (March 2018):
The Brazilian Central Bank decided not to include Employee Benefits funds in its restricted cash regulation. Inclusion of the funds would have entailed their reclassification in 2018.
Bertrand Dumazy, Chairman and Chief Executive Officer of Edenred, said: “The Group has begun 2018 with sustained organic growth, in line with our prior-year performance. Thanks to our increasingly digital Employee Benefits solutions, we are continuing to enhance our offering with innovative applications based in particular on new payment solutions. We are also pushing ahead with our drive to expand our sales footprint in the SME segment, which lifted organic Employee Benefits growth into the double digits during the quarter. Fleet & Mobility Solutions remain a major growth driver for the Group, both in Latin America and in Europe, where UTA continues to expand its geographic footprint and enhance its range of products and services.”