Slide 1: Q3 2016 Revenue
Q3 2016 Revenue October 13, 2016
Slide 2: Solid Q3 in line with our expectations
SOLID Q3 IN LINE WITH OUR EXPECTATIONS ▌ L/L(1) issue volume growth acceleration across the board Employee Benefits Expense Management TOTAL Q3 2016 +8.2% +17.2% +10.2% YTD 2016 +7.5% +13.4% +8.9% ▌ Continued strong momentum in Europe despite unfavorable calendar effects ▌ Pickup of growth in Latin
Slide 3: Edenred on track to deliver FY 16 top-line target
EDENRED ON TRACK TO DELIVER FY 16 TOP-LINE TARGET +8.9% L/L YTD growth in issue volume +7.0% L/L YTD growth in total revenue including: Europe Latin America Rest of the world 48% 48% 4% +7.6% L/L YTD growth in of total IV of total IV of total IV operating revenue with issue volume -1.9% L/L YTD
Slide 4: YTD 2016 issue volume: €13,911m (+8.9% L/L)
YTD 2016 ISSUE VOLUME: €13,911M (+8.9% L/L) Strong organic growth with an acceleration in Q3 (+10.2%) YTD 2015 IV €13,290m €1,187m L/L issue volume increase Like-for-like +8.9% 10.0% 10.2% 9.3% 8.4% 8.7% 9.3% 8.9% 7.0% 7.4% Scope(1) +4.9% Q1 15 Q2 15 Q3 15 Q4 15 FY 15 Q1 16 Q2 16 Q3 16 YTD €(1,2
Slide 5: YTD 2016 Europe issue volume: €6,636m (+7.7% L/L)
YTD 2016 EUROPE ISSUE VOLUME: €6,636M (+7.7% L/L) Continued strong momentum thanks to solid sales achievements L/L growth Q1 Q2 Q3 YTD 48% of total Europe excluding +8.4% +11.5% +7.7% +9.2% issue volume France France +4.2% +6.2% +3.4% +4.6% Total Europe +6.9% +9.7% +6.4% +7.7% Europe excluding Franc
Slide 6: YTD 2016 LatAm issue volume: €6,688m (+10.0% L/L)
YTD 2016 LATAM ISSUE VOLUME: €6,688M (+10.0% L/L ) Acceleration in Mexico and resilience in Brazil L/L growth Q1 Q2 Q3 YTD 48% of total Brazil +5.3% +3.7% +4.5% +4.5% issue volume Hispanic +11.1% +16.5% +28.0% +18.4% Latin America Total Latin America +7.5% +8.7% +14.3% +10.0% Brazil: Hispanic Latin
Slide 7: YTD 2016 total revenue: €804m (+7.0% L/L)
YTD 2016 TOTAL REVENUE: €804M (+7.0% L/L) Positive reported growth at +2.8% YTD 2015 €55m L/L total revenue increase Revenue €782m L/L growth Q1 Q2 Q3 YTD in €m Like-for-like +7.0% Operating revenue with IV +5.8% +7.8% +9.6% +7.6% 646 Operating revenue without IV(3) +6.6% +5.2% +12.2% +7.8% 109 Fi
Slide 8: YTD 2016 operating revenue with issue volume
YTD 2016 OPERATING REVENUE WITH ISSUE VOLUME Robust issue volume to revenue conversion Operating revenue with issue volume L/L growth Q1 Q2 Q3 YTD in €m Solid revenue increase across the board with notably: Europe +5.1% +8.9% +7.3% +7.1% 313 An acceleration in Mexico Latin America +6.2% +6.6% +1
Slide 9: YTD 2016 operating revenue without issue volume and financial revenue
YTD 2016 OPERATING REVENUE WITHOUT ISSUE VOLUME AND FINANCIAL REVENUE Operating revenue without issue volume Financial revenue L/L growth by region L/L growth Q1 Q2 Q3 YTD in €m L/L growth Q1 Q2 Q3 YTD in €m Europe +7.1% +3.4% +7.5% +5.5% 67 Europe -16.3% -14.5% -8.7% -13.3% 21 Latin America +4.4% +
Slide 10: Conclusion
Conclusion
Slide 11: 2016 Outlook
2016 OUTLOOK Confirmation of all FY 2016 targets Q4 2016 issue volume growth will reflect: Organic Solid growth in Europe with negative calendar effects top-line Continued positive momentum in Mexico trends Successful integration of Embratec activities in the absence of recovery signs in Bra
Slide 12: Appendices
Appendices
Slide 13: Issue volume
ISSUE VOLUME Q1 Q2 Q3 YTD In € millions 2016 2015 2016 2015 2016 2015 2016 2015 France 767 735 806 696 676 614 2,249 2,045 Rest of Europe 1,452 1,346 1,536 1,395 1,399 1,353 4,387 4,094 Latin America 1,872 2,284 2,252 2,274 2,564 2,030 6,688 6,588 Rest of the world 193 188 200 192 194 183 587 563 Is
Slide 14: Operating revenue with issue volume
OPERATING REVENUE WITH ISSUE VOLUME Q1 Q2 Q3 YTD In € millions 2016 2015 2016 2015 2016 2015 2016 2015 France 32 31 33 30 28 26 93 87 Rest of Europe 73 68 77 71 70 66 220 205 Latin America 83 104 104 105 118 91 305 300 Rest of the world 9 10 10 9 9 10 28 29 Operating revenue with IV 197 213 224 215
Slide 15: Operating revenue without issue volume
OPERATING REVENUE WITHOUT ISSUE VOLUME Q1 Q2 Q3 YTD In € millions 2016 2015 2016 2015 2016 2015 2016 2015 France 13 6 14 20 12 11 39 37 Rest of Europe 10 11 9 8 9 9 28 28 Latin America 5 6 5 7 6 6 16 19 Rest of the world 8 8 9 9 9 8 26 25 Operating revenue without IV 36 31 37 44 36 34 109 109 Q1 Q2
Slide 16: Financial revenue
FINANCIAL REVENUE Q1 Q2 Q3 YTD In € millions 2016 2015 2016 2015 2016 2015 2016 2015 France 3 4 3 3 2 3 8 10 Rest of Europe 4 4 4 5 5 6 13 15 Latin America 7 10 8 8 9 7 24 25 Rest of the world 2 1 1 1 1 0 4 2 Financial revenue 16 19 16 17 17 16 49 52 Q1 Q2 Q3 YTD Change Change Change Change Change C
Slide 17: Total revenue
TOTAL REVENUE Q1 Q2 Q3 YTD In € millions 2016 2015 2016 2015 2016 2015 2016 2015 France 48 41 50 53 42 40 140 134 Rest of Europe 87 83 90 84 84 81 261 248 Latin America 95 120 117 120 133 104 345 344 Rest of the world 19 19 20 19 19 18 58 56 Total revenue 249 263 277 276 278 243 804 782 Q1 Q2 Q3 YTD
Slide 18: Average exchange rates
AVERAGE EXCHANGE RATES 2016 vs. 2016 vs. 2016 vs. 2016 vs. 2015 vs. 2015 vs. 2015 2015 2015 2015 2014 2014 €1 = X foreign currency Q1 2016 Q1 2015 Q2 2016 Q2 2015 Q3 2016 Q3 2015 YTD 2016 YTD 2015 Q4 2015 FY 2015 Change Change Change Change Change Change (in % ) (in % ) (in % ) (in % ) (in % ) (in %
Slide 19: 2016 expected calendar effects
2016 EXPECTED CALENDAR EFFECTS Q1 Q2 Q3 Q4 2016 Nb of Nb of Nb of Nb of Nb of Working days % change % change % change % change % change days days days days days Europe 0 -0.4% 2 3.1% -1 -1.8% -1 -2.2% -1 -0.4% Latin America 0 -0.1% 1 1.9% -1 -1.0% 0 -0.1% 0 0.2% Rest of the world 1 0.9% 1 1.7% 0 -0.