Edenred Sa · EURONEXT:EDEN
Edenred Sa — Q3 2012 Earnings Presentation
19 slides from Edenred Sa's earnings presentation, Oct 17, 2012
Slide 1: Q3 2012 Revenue Conference Call
Q3 2012 Revenue CONFERENCE CALL October 17, 2012
Slide 2: Nine Months 2012 Highlights
Nine Months 2012 Highlights ISSUE VOLUME +9.8% L/L growth, reflecting: Very strong momentum in Latin America (+21.1% L/L) Slight growth in Europe (+1.9% L/L excluding Hungary(1)) in a difficult economic environment Sustained trends in Rest of the world (+10.4% L/L) OPERATING REVENUE FINANCIAL
Slide 3: YTD Issue Volume: €11,864m
YTD Issue Volume: €11,864m Like-for-like +9.8% Issue Volume (L/L) €1,063m 10.9% Scope (1) 10.4% 10.5% 9.8% 9.7% 9.8% +0.9% €93m 9.0% 9.1% 8.5% Currency -1.3% €(136)m Reported +9.4% €1,020m Q1 11 Q2 11 Q3 11 Q4 11 FY 11 Q1 12 Q2 12 Q3 12 YTD 12 Solid performance with issue volume up +9.8% L/L as of S
Slide 4: Latin America – YTD 2012 Issue Volume: €6,250m
Latin America – YTD 2012 Issue Volume: €6,250m Issue Volume L/L Growth Q1 Q2 Q3 YTD Brazil +21.5% +23.8% +22.0% +22.4% Hispanic Latin America +23.1% +17.8% +16.7% +19.0% TOTAL +22.1% +21.5% +19.9% +21.1% * No significant calendar effect in Q3 Growth by driver: Growth by region: Sustained favor
Slide 5: Europe – YTD Issue Volume: €5,190m
Europe – YTD Issue Volume: €5,190m Issue Volume L/L Growth Q1 Q2 Q3 YTD Western Europe +2.6% -0.1% +4.0% +2.1% Central Europe -17.3% -22.8% -20.7% -20.4% TOTAL -0.3% -3.8% +0.1% -1.4% TOTAL excl. Hungary +2.7% -0.2% +3.6% +1.9% * No significant calendar effect in Q3 Western Europe: France: good
Slide 6: YTD Operating Revenue: €698m
YTD Operating Revenue: €698m Operating Revenue Growth (L/L) 11.7% 10.3% Like-for-like 9.2% +7.5% x% +8.0% €51m 8.1% 7.8% 8.0% 7.5% 6.6% 6.7% Scope (1) -3.2% -4.7% €(22)m Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 YTD 12 Currency -1.2% -0.5% €(8)m With IV (2) +6.7% +10.5% +9.5% +9.3% +9.0% +9.4%
Slide 7: YTD 2012 Operating Revenue Growth
YTD 2012 Operating Revenue Growth Operating Revenue L/L Growth Operating Revenue with IV(1) by Type of Revenue L/L Growth by Region Q1 Q2 Q3 YTD Q1 Q2 Q3 YTD Latin America +19.7% +19.9% +15.5% +18.3% With IV(1) +9.4% +9.2% +8.2% +8.9% Europe -1.1% -1.3% -0.5% -1.0% Europe excl. Hungary +2.4% +2.3% +
Slide 8: YTD 2012 Financial Revenue: €69m
YTD 2012 Financial Revenue: €69m Financial Revenue Growth (L/L) Financial Revenue L/L Growth 21.9% 19.0% Q1 Q2 Q3 YTD 15.2% 13.0% 10.4% Latin America +15.1% +4.2% +8.4% +9.2% 8.2% 4.5% 4.0% Europe +4.4% +2.1% -10.6% -1.6% Rest of the +59.5% +51.1% +16.0% +39.4% world -2.1% TOTAL +10.4% +4.5% -2.1% +
Slide 9: YTD 2012 Total Revenue: €767m
YTD 2012 Total Revenue: €767m Total Revenue Growth (L/L) Like-for-like L/L growth Q1 Q2 Q3 YTD +7.2% x% +8.0% Operating Revenue with IV (2) +9.4% +9.2% +8.2% +8.9% €54m Operating Revenue without IV +0.3% -4.3% +6.5% +0.3% Operating Revenue +7.8% +6.7% +8.0% +7.5% Scope (1) Financial Revenue +10.4% +
Slide 10: Conclusion
Q3 2012 Revenue Conclusion Titre du document - date - Arial regular 8pts 10
Slide 11: Conclusion
Conclusion YTD Issue Volume up +9.8% L/L YTD Total Revenue up +7.2% L/L Good overall performance : Operating Revenue: strong performance of businesses with issue Reflecting a strong momentum volume (up +8.9% L/L) ; slight growth in Latin America (up +21.1% L/L), in operating revenue without is
Slide 12: Appendices
Q3 2012 Revenue Appendices Titre du document - date - Arial regular 8pts 12
Slide 13: Issue Volume
Issue Volume Q1 Q2 H1 Q3 September end (YTD) In € millions 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 France 659 666 617 613 1,276 1,279 512 524 1,788 1,803 Rest of Europe 1,148 1,127 1,232 1,157 2,380 2,284 1,112 1,103 3,492 3,387 Latin America 1,628 1,987 1,742 2,054 3,370 4,041 1,836 2,209
Slide 14: Operating Revenue
Operating Revenue Q1 Q2 H1 Q3 September end (YTD) In € millions 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 France 36 34 34 32 70 66 31 29 101 95 Rest of Europe 81 76 78 72 159 148 71 69 230 217 Latin America 94 113 100 115 194 228 107 122 301 350 Rest of the world 17 11 16 12 33 23 12 13 46 3
Slide 15: Financial Revenue
Financial Revenue Q1 Q2 H1 Q3 September end (YTD) In € millions 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 France 5 5 5 5 10 10 5 5 15 15 Rest of Europe 7 8 8 7 16 15 8 7 24 22 Latin America 9 10 9 9 17 19 9 10 27 29 Rest of the world 1 1 1 1 1 2 1 1 2 3 FINANCIAL REVENUE 22 24 23 22 44 46 24
Slide 16: Total Revenue
Total Revenue Q1 Q2 H1 Q3 September end (YTD) In € millions 2011 2012 2011 2012 2011 2012 2011 2012 2011 2012 France 41 39 39 37 80 76 36 34 116 110 Rest of Europe 88 84 87 79 175 163 80 75 254 239 Latin America 102 123 109 124 211 247 116 133 328 379 Rest of the world 18 12 17 13 35 25 13 14 48 39
Slide 17: Scope Effects
Scope Effects Total P&L Impact of Disposals(1) in 2012 In € millions 2012 Q1 Q2 Q3 Q4 FY Issue Volume (11) (12) (9) (28) (60) Operating revenue (11) (9) (5) (2) (27) EBIT (6) (2) (8) (1) Of which French corporate concierge operations in April 2011, WorkPlace Benefits in May 2011, Davidson Trahaire (
Slide 18: Exchange Rates
Exchange Rates 2012 2012 2012 2012 YTD YTD Q1 2011 Q1 2012 vs. Q2 2011 Q2 2012 vs. Q3 2011 Q3 2012 vs. vs. 1€ = X foreign 2011 2012 average average 2011 average average 2011 average average 2011 2011 currency average average rate rate Change rate rate Change rate rate Change Change rate rate (in %)
Slide 19: Edenred's Regions and Countries
Edenred’s Regions and Countries Western Europe Central Europe Austria Luxembourg Bulgaria Belgium Netherlands Czech Republic Finland Portugal Hungary France Spain Poland Germany Sweden Romania Greece Switzerland Slovakia Italy UK Latin America Argentina Peru Brazil Rest of the world Uruguay Chile Ve