Edenred SE (EDEN.PA, EDNMY), a services and payments platform, on Wednesday announced that its net profit remained flat in the first half compared to the previous year due to higher financial and tax expenses.
For the first half, net profit remained at 235 million euros compared with last year.
Adjusted net profit increased to 279 million euros from 268 million euros in the previous year.
Adjusted earnings per share were 1.16 euro versus 1.08 euro last year.
EBIT increased 13.6 percent to 522 million from 488 million last year.
EBITDA also jumped 14.4 percent to 654 million euros from 597 million euros in the prior year.
Operating revenue increased 7.1 percent to 1.34 billion euros from 1.27 billion euros last year.
Revenue climbed 6.4 percent to 1.45 billion euros from 1.39 billion euros in the previous year.
Looking ahead, the company confirmed strong momentum in its Benefits & Engagement and Mobility units despite a weaker European economy, and expecting profitable growth in 2025, driven by its Beyond 22-25 strategy.
The company reiterated its annual target for 2025, Like-for-like EBITDA growth greater than 10% which is equivalent to a minimum of approximately 1,340 million based on exchange rates at end-June 2025.
The company also reiterated free cash flow or EBITDA conversion rate greater than 70% for the full year 2025.
On Tuesday, Edenred closed trading, 1.38% higher at EUR 26.41 on the Paris Stock Exchange.
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