Edenred raises 2026 core profit outlook on half-year results beat
Half-Year Financial Performance and Outlook Update
(Corrects paragraph 4 to say first-half profit, not second-quarter profit)
Profit Outlook Revision
July 23 (Reuters) - French vouchers and benefit cards provider Edenred on Thursday raised its core profit outlook for 2026, citing a rebasing year against a backdrop of regulatory changes concerning meal vouchers in Italy and Brazil.
Company Background
The group, which helps companies manage staff expenses and benefits and is known for its "Ticket Restaurant" vouchers, now expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to fall between 7% and 10%, compared to previous estimates of a contraction of 8% to 12%.
CEO Statement
"Against a backdrop of regulatory changes regarding meal vouchers in Brazil and Italy, our results have exceeded expectations," CEO Bertrand Dumazy said in the earnings report.
Financial Results
The company reported first-half core profit of €616 million ($702.98 million), above the €606 million expected on average by analysts polled by the company.
Exchange Rate Information
($1 = 0.8763 euros)
Reporting Credits
(Reporting by Margaux Perrin and Dimitri Rhodes in Gdansk; Editing by Janane Venkatraman)
