Edenred SE (EDNMF), a digital services and payments platform, Tuesday reported that its earnings surged in fiscal 2024. Further, the company proposed a 10% increase in dividend and reaffirmed the 2025 outlook.
For the full year, net profit surged to EUR 507 million from EUR 267 million in the previous year.
Earnings per share increased to EUR 2.07 versus EUR 1.71 last year.
Adjusted profit remained at EUR 507 million, compared to EUR 425 million last year.
EBIT also was higher at EUR 1.04 billion from EUR 901 million last year.
EBITDA increased to EUR 1.27 billion from 1.09 billion a year ago.
Funds from operations before income and expenses increased by 19.2 percent at EUR 870 million.
Operating revenue rose to EUR 2.60 billion from EUR 2.34 billion last year.
Revenue increased to EUR 2.86 billion from EUR 2.55 billion in the previous year.
For the fourth quarter, revenue increased by 7.5 percent year-over-year to EUR 770 million.
Operating revenue also rose by 8.5 percent to EUR 719 million
The company proposed a dividend cash payment of EUR 1.21 per share for 2024, which represents an increase of 10% from 2023.
Looking ahead, Edenred continues to aim for at least 10% like-for-like EBITDA growth and a free cash flow-to-EBITDA conversion rate above 70%. These projections account for a EUR 60 million hit to EBITDA due to a new merchant cap in Italy set to take effect in 2025.
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