Edenred Sa · EURONEXT:EDEN

Edenred Sa — Q3 2015 Earnings Presentation

19 slides from Edenred Sa's earnings presentation, Oct 13, 2015

  1. Slide 1: Q3 2015 Revenue

    CONFIDENTIEL Version 10.07.2015 11h00 Q3 2015 Revenue October 13, 2015

  2. Slide 2: First nine months of 2015: Financial highlights

    FIRST NINE MONTHS OF 2015 Financial highlights Issue volume Revenue +8.7% L/L(1) growth, +7.8% L/L growth reflecting: in operating revenue with issue volume  Robust growth in Latin America up 13.0% L/L  Positive momentum in Europe up 3.7% L/L -0.5% L/L change  Strong growth in the Rest of the wor

  3. Slide 3: YTD 2015 Issue Volume: €13,290M

    YTD 2015 ISSUE VOLUME: €13,290M Up 8.7% L/L, but negative currency effects Like-for-like 10.0% 9.3%  Robust YTD L/L growth for the Group +8.7% 8.7% 7.0% €1,104m  Q3 L/L growth remains solid in spite of tough macro environment in Brazil Q1 15 Q2 15 Q3 15 YTD Scope(1) +0.9% €108m Of which €(530)m du

  4. Slide 4: YTD 2015 Latin America Issue Volume: €6,588M

    YTD 2015 LATIN AMERICA ISSUE VOLUME: €6,588M Up 13.0% L/L, thanks to increased penetration L/L growth Q1 Q2 Q3 YTD Brazil +12.8% +11.1% +5.7% +9.7% Hispanic Latin +25.5% +17.6% +15.1% +19.1% America Total Latin America +17.3% +13.4% +9.0% +13.0% Brazil: Hispanic Latin America:  +9.7% L/L growth, in

  5. Slide 5: YTD 2015 Europe Issue Volume: €6,139M

    YTD 2015 EUROPE ISSUE VOLUME: €6,139M Up 3.7% L/L, confirming a positive momentum L/L growth Q1 Q2 Q3 YTD France +3.1% +4.5% +3.3% +3.6% Rest of Europe +2.4% +4.2% +4.5% +3.7% Total Europe +2.7% +4.3% +4.1% +3.7% France: Rest of Europe:  Ticket Restaurant® up 4.2% L/L YTD (and 3.9% L/L in Q3)  Ita

  6. Slide 6: YTD 2015 Total Revenue: €782M

    YTD 2015 TOTAL REVENUE: €782M Up 6.8% L/L and 5.6% as reported, including currency impacts Like-for-like +6.8% L/L growth Q1 Q2 Q3 YTD €51m Operating revenue with IV(2) +9.0% +9.2% +5.3% +7.8% Scope(1) +3.4% Operating revenue w/o IV(3) +4.0% +3.7% +6.9% +4.9% €25m Financial revenue +2.7% -2.7% -1.6%

  7. Slide 7: YTD 2015 Revenue Details

    YTD 2015 REVENUE DETAILS Operating revenue with IV: €621m Financial revenue: L/L growth €52m by region L/L growth Q1 Q2 Q3 YTD L/L growth Q1 Q2 Q3 YTD Latin America +14.8% +14.5% +8.0% +12.2% Latin America +19.2% +8.3% +10.8% +12.6% Europe +3.2% +3.3% +1.6% +2.7% Europe -12.4% -14.3% -17.3% -14.6% R

  8. Slide 8: Outlook

    Outlook

  9. Slide 9: Focus on Currencies

    FOCUS ON CURRENCIES Emerging market currencies under pressure in summer 2015 MAIN CURRENCY TRENDS IN 2015  Financial markets were under Aug. 12 Sept. 30 strong pressure throughout the summer of 2015 due to fears about €/BRL (-27.6%) China’s real growth. Context  More specifically, the Chinese €/TR

  10. Slide 10: Outlook

    OUTLOOK Organic  Q4 issue volume growth expected to be similar to Q3, at the Group level as well as in Brazil top-line  Operating revenue with IV(1) growth: ~100 bp difference with IV growth expected in FY 2015 trends  Financial revenue expected to be stable over the full year 2015 EBIT  Updated

  11. Slide 11: Appendices

    Appendices

  12. Slide 12: Issue Volume

    ISSUE VOLUME Q1 Q2 Q3 YTD In € millions 2014 2015 2014 2015 2014 2015 2014 2015 France 713 735 662 696 592 614 1,967 2,045 Rest of Europe 1,302 1,346 1,318 1,395 1,275 1,353 3,895 4,094 Latin America 1,902 2,284 2,122 2,274 2,289 2,030 6,313 6,588 Rest of the world 145 188 156 192 164 183 465 563 Is

  13. Slide 13: Operating Revenue with Issue Volume

    OPERATING REVENUE WITH ISSUE VOLUME Q1 Q2 Q3 YTD In € millions 2014 2015 2014 2015 2014 2015 2014 2015 France 30 31 28 30 27 26 85 87 Rest of Europe 66 68 67 71 63 66 196 205 Latin America 91 104 100 105 109 91 300 300 Rest of the world 7 10 8 9 9 10 24 29 Operating revenue with IV 194 213 203 215 2

  14. Slide 14: Operating Revenue without Issue Volume

    OPERATING REVENUE WITHOUT ISSUE VOLUME Q1 Q2 Q3 YTD In € millions 2014 2015 2014 2015 2014 2015 2014 2015 France 5 6 6 20 5 11 16 37 Rest of Europe 11 11 9 8 8 9 28 28 Latin America 5 6 7 7 6 6 18 19 Rest of the world 5 8 5 9 7 8 17 25 Operating revenue without IV 26 31 27 44 26 34 79 109 Q1 Q2 Q3 Y

  15. Slide 15: Financial Revenue

    FINANCIAL REVENUE Q1 Q2 Q3 YTD In € millions 2014 2015 2014 2015 2014 2015 2014 2015 France 5 4 4 3 4 3 13 10 Rest of Europe 4 4 5 5 6 6 15 15 Latin America 8 10 8 8 10 7 26 25 Rest of the world 1 1 1 1 0 0 2 2 Financial revenue 18 19 18 17 20 16 56 52 Q1 Q2 Q3 YTD Change Change Change Change Change

  16. Slide 16: Total Revenue

    TOTAL REVENUE Q1 Q2 Q3 YTD In € millions 2014 2015 2014 2015 2014 2015 2014 2015 France 40 41 38 53 36 40 114 134 Rest of Europe 81 83 81 84 77 81 239 248 Latin America 104 120 115 120 125 104 344 344 Rest of the world 13 19 14 19 16 18 43 56 Total revenue 238 263 248 276 254 243 740 782 Q1 Q2 Q3 YT

  17. Slide 17: Average Exchange Rates

    AVERAGE EXCHANGE RATES 2015 vs. 2015 vs. 2015 vs. 2015 vs. 2014 2014 2014 2014 €1 = X foreign currency Q1 2014 Q1 2015 Q2 2014 Q2 2015 Q3 2014 Q3 2015 YTD 2014 YTD 2015 Change Change Change Change (in % ) (in % ) (in % ) (in % ) Bolivar Fuerte (VEF) 68.50 134.41 -49.0% 68.25 218.57 -68.8% 66.22 221.

  18. Slide 18: Scope Effects

    SCOPE EFFECTS Acquisitions Consolidation date Acquisitions Bonus, Brazil Consolidation January 2014date Bonus, Nets Brazil Finland Prepaid, January 2014 Nets C3 Prepaid, CARD, Finland United Arab Emirates January 2014 July 2014 C3 CARD, Asia Cardtrend, United Arab Emirates July 2014 August 2014 Card

  19. Slide 19: 2015 Expected Calendar Effects

    2015 EXPECTED CALENDAR EFFECTS Q1 Q2 Q3 Q4 2015 Nb of Nb of Nb of Nb of Nb of Working days % change % change % change % change % change days days days days days Europe 0 0.0% 0 0.4% 0 0.6% 1 1.0% 1 0.5% Latin America 1 1.4% 0 0.5% -1 -0.9% 0 -0.5% 0 0.1% Rest of the world 0 0.4% 0 -0.1% -1 -2.3% 2 2

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