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Edenred: Full-year earnings down 24%

( - Edenred has reported a 23.
7% decline in net income, group share at 238 million euros, with a 13.2% fall in EBITDA to 580 million euros (-4.6% on an organic basis) for total revenue that is down 9.9% at 1.46 billion euros (-2% on an organic basis).

At the Combined General Meeting to be held in May, the Board will propose a 7.1% increase in its dividend to 0.75 euro per share for 2020. Shareholders will have the choice between a 100%-cash payment and a 100% payment in shares with a 10% discount.

The prepaid services vouchers group intends to accelerate and generate profitable and sustainable growth in a post-Covid world, and, despite health uncertainties, it aims to generate 2021 EBITDA that is up at least 6% in organic terms.

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