Edenred: H1 income down 31%
(CercleFinance.com) - Edenred has reported a 31.
4% decline in net income, group share to 100 million euros in the first half of 2020, along with a 17.8% decline in EBITDA (down 12.8% in organic terms) to 255 million euros and free cash flow generation of 113 million euros.
At 675 million euros, the prepaid services group's operating revenue was down 10.2% on a reported basis and 4.6% on a comparable basis (including -15.4% in Q2 and -9% in June, with the gradual easing of European lockup restrictions).
Edenred believes that organic growth in operating revenue should return to positive territory in the second half of the year compared with 2019, on a monthly basis, with the group targeting annual EBITDA of between 540 million and 610 million euros
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4% decline in net income, group share to 100 million euros in the first half of 2020, along with a 17.8% decline in EBITDA (down 12.8% in organic terms) to 255 million euros and free cash flow generation of 113 million euros.
At 675 million euros, the prepaid services group's operating revenue was down 10.2% on a reported basis and 4.6% on a comparable basis (including -15.4% in Q2 and -9% in June, with the gradual easing of European lockup restrictions).
Edenred believes that organic growth in operating revenue should return to positive territory in the second half of the year compared with 2019, on a monthly basis, with the group targeting annual EBITDA of between 540 million and 610 million euros
Copyright (c) 2020 CercleFinance.com. All rights reserved.