Edenred SE (EDNMY) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.622 -- 00:00:06.092 Good morning, everybody. Thanks for being with Virginie, the Eden Red CFO, and myself 00:00:06.092 -- 00:00:11.341 for the Eden Red 2025 results. We are together for the next 90 00:00:11.341 -- 00:00:15.108 minutes, so first part is the presentation of our results. 00:00:15.108 -- 00:00:19.977 The second part, we will be pleased to answer any question you may have. 00:00:19.977 -- 00:00:25.106 In the executive summary, there are five messages I want to share with 00:00:25.106 -- 00:00:30.656 you. First of all, yes, 2025 was a year of strong commercial and operating 00:00:30.656 -- 00:00:35.705 performance. Second message, we exceeded the guidance 2025 00:00:35.705 -- 00:00:40.955 in terms of like for like EBITDA growth and free cash flow generation 00:00:40.955 -- 00:00:45.988 and free cash flow conversion. Third, yes, thanks to those results, 00:00:45.988 -- 00:00:49.934 we are able to post some strong shareholders return. 00:00:49.934 -- 00:00:54.142 My fourth message is, you know the Eden Red growth equation. 00:00:54.142 -- 00:00:59.397 It's a very simple equation. We are looking for more users and more value per users. 00:00:59.397 -- 00:01:04.604 Finally, 2026 will be a rebasing year before 00:01:04.604 -- 00:01:09.390 renewed sustainable and profitable growth in 2027 00:01:09.390 -- 00:01:15.297 and 2028 with a growth of between 8% and 12% 00:01:15.297 -- 00:01:20.321 of our EBITDA like for like for 2027 and 2028. 00:01:20.744 -- 00:01:25.979 With those four messages, now let's go into the details, 00:01:25.979 -- 00:01:31.173 and I propose that we move directly to slide six. 00:01:31.173 -- 00:01:37.543 Eden Red delivered a strong operating and financial performance in 2025. 00:01:37.543 -- 00:01:42.891 Our operator rating ...