Edenred SE (EDEN.PA, EDNMY), a services and payments platform, reported total revenue of 726 million euros for the third quarter of 2025, representing a 7.3% like-for-like increase compared to the same period in 2024. Reported revenue grew by 6.5%, driven by a positive 2.3% scope effect from acquisitions made in 2024—primarily RB in Brazil and the IP energy cards activity in Italy—and offset by a 3.2% unfavorable currency effect, mainly due to Latin American currencies.
Operating revenue amounted to 667 million euros in the third quarter of 2025, up 8.2% like-for-like versus the third quarter of 2024 and marking an acceleration compared to the previous two quarters. Based on reported figures, operating revenue rose by 7.8%, taking into account the positive 2.6% scope effect, offset by an unfavourable 3.0% currency effect.
Edenred confirms its annual targets for 2025, aiming for organic EBITDA growth of more than 10%, which corresponds to a minimum of 1.340 billion euros based on exchange rates at the end of June 2025. The company also expects a free cash flow to EBITDA conversion rate above 70%.
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