Edenred Sa · EURONEXT:EDEN
Edenred Sa — Q1 2019 Earnings Presentation
21 slides from Edenred Sa's earnings presentation, Apr 18, 2019
Slide 1: Q1 2019 Revenue
Q1 2019 Revenue April 18, 2019
Slide 2: Executive Summary
EXECUTIVE SUMMARY Strong start to the year, with total revenue of €383m, up 15.3% as reported and 14.1% like-for-like: Double-digit like-for-like growth in both operating revenue (+14.2%) and other revenue (+12.0%) 4.0% positive scope effect Slight currency impact (-2.8%) Sustained organic
Slide 3: Agenda
Agenda 1. Q1 2019 Revenue & Highlights 2. 2019 Outlook 3
Slide 4: Total Revenue: €383m
Q1 2019 TOTAL REVENUE: €383M Up 15.3%, fueled by strong 14.1% organic growth and positive scope effects Q1 2019 €383m Reported +15.3% Total revenue growth in Q1 2019 Venezuela -0.1% Reported L/L change In €m Q1 19 Q1 18 change (excluding Venezuela) Scope +4.0% Operating revenue 369 319 +15.6% +14.
Slide 5: Operating Revenue
Q1 2019 OPERATING REVENUE Strong start to the year in both organic and reported figures Q1 2019 L/L operating growth €369m 14.6% 15.3% 13.4% 13.3% 14.2% Reported +15.6% 9.8% Venezuela -0.1% Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Scope +4.1% €13m from scope effects €(9m) from currency effects Curr
Slide 6: Operating Revenue Breakdown & Growth by Business Line
Q1 2019 OPERATING REVENUE BREAKDOWN & GROWTH BY BUSINESS LINE Double-digit organic growth across all business lines EMPLOYEE BENEFITS FLEET & MOBILITY COMPLEMENTARY SOLUTIONS SOLUTIONS Corporate Payment Services % OF Q1 2019 Incentive & Rewards GROUP OPERATING 64% 25% 11% Public Social Programs REVE
Slide 7: Operating Revenue Breakdown & Growth by Geography
Q1 2019 OPERATING REVENUE BREAKDOWN & GROWTH BY GEOGRAPHY Double-digit organic growth across all regions Rest of the World Europe +20.9% L/L 58% +13.8% L/L 8% +64.1% as reported +16.4% as reported Latin America +13.9% L/L 34% (excluding Venezuela) % of Q1 2019 Group operating revenue +7.3% as report
Slide 8: Leveraging Proprietary and Partner Capabilities to Fit User Needs
LEVERAGING PROPRIETARY AND PARTNER CAPABILITIES TO FIT USER NEEDS Roll-out of innovative payment solutions Fast, seamless payment with mobile Roll-out of Edenred Direct Payment Services Ramp-up in France: +3 programs o Increased number of transactions with high user engagement and +1 country (e.g.
Slide 9: Employee Engagement Platforms
EMPLOYEE ENGAGEMENT PLATFORMS Continuous investment to reinforce our position e.g. since January 2019 NEW + Several use cases Value proposition Vastly under-penetrated The employer grants tax-free Employer market benefits, which the employee can use on a platform Foster employee engagement C
Slide 10: Operating Revenue – Europe €213m
Q1 2019 OPERATING REVENUE – EUROPE Sustained organic growth across the board, ongoing integration of last acquisitions Q1 2019 operating revenue 2019 vs. 2018 L/L growth FY 18 Q1 19 of Group operating 58% €213m France +10.0% +9.0% +13.8% L/L Europe excl. France +16.8% +16.3% revenue +16.4% as report
Slide 11: Operating Revenue – Latin America €128m
Q1 2019 OPERATING REVENUE – LATIN AMERICA Double-digit organic growth in line with 2018 trend Q1 2019 2019 vs. 2018 L/L growth (excluding Venezuela) FY 18 Q1 19 operating revenue 34% of Group operating €128m Hispanic Latin America +17.7% +19.7% revenue +13.9% L/L Brazil +10.0% +11.7% Total Latin Ame
Slide 12: Other Revenue
Q1 2019 OTHER REVENUE Reported L/L change In €m Q1 18 Q1 19 change (excluding Venezuela) Other revenue boosted by: Latin America 8 9 +1.9% +5.4% Good business momentum Slightly higher interest rates in some Europe 4 4 +11.9% +12.0% European countries outside the eurozone Rest of the World 1 1 +4
Slide 13: Agenda
Agenda 1. Q1 2019 Revenue & Highlights 2. 2019 Outlook 13
Slide 14: 2019 Outlook
2019 OUTLOOK Tackling 2019 with confidence Sustained growth in all regions and all business lines, driven by: Disciplined go-to-market approach and digital Integration and ramp-up of 2018 acquisitions and agility to further grow in under-penetrated markets partnerships Employee Benefits: Inn
Slide 15: Save the Date – October 23, 2019
SAVE THE DATE – OCTOBER 23, 2019 Capital Markets Day in London October 23, 2019 15
Slide 16: Appendices
Appendices 16
Slide 17: Sustainable Growth in Both Employee Benefits and Fleet & Mobility Solutions
SUSTAINABLE GROWTH IN BOTH EMPLOYEE BENEFITS AND FLEET & MOBILITY SOLUTIONS Employee Benefits Fleet & Mobility 14.5% 13.4% 13.5% 11.8% 11.7% 18.4% 17.9% 16.8% 16.0% 8.5% 14.7% 13.7% Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 Q1 18 Q2 18 Q3 18 Q4 18 FY 18 Q1 19 L/L operating revenue growth (excluding Venezu
Slide 18: Revenue by Region
REVENUE BY REGION Operating revenue Other revenue Total revenue Q1 Q1 Q1 In € millions 2019 2018 In € millions 2019 2018 In € millions 2019 2018 Europe 213 183 Europe 4 4 Europe 217 187 France 69 63 France 2 2 France 71 65 Rest of Europe 144 120 Rest of Europe 2 2 Rest of Europe 146 122 Latin Americ
Slide 19: Average Exchange Rate
AVERAGE EXCHANGE RATE Average rates Average rates 2019 vs. 2018 €1 = X foreign currency Q1 2019 Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Change (in%) Brazilian real (BRL) 4.28 3.99 -6.7% 4.29 4.60 4.35 4.31 Mexican Peso (MXN) 21.80 23.03 5.6% 23.12 22.07 22.62 22.71 Argentine Peso (ARS) 44.33 24.23 -
Slide 20: 2019 Expected Calendar Effects
2019 EXPECTED CALENDAR EFFECTS Q1 Q2 Q3 Q4 2019 Nb of Nb of Nb of Nb of Nb of Working days days days days days days Europe -1 0 1 0 0 Latin America 0 -1 2 2 2 Rest of the world -1 1 1 0 2 TOTAL -1 0 2 0 1 20
Slide 21: Contact
CONTACT Solène Zammito solene.zammito@edenred.com Loïc Da Silva loic.dasilva@edenred.com 21