Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
  • TickerEDEN
  • ISINFR0010908533
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance

Analysts

Alex Koagne ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/12/2018

...

Alex Koagne ...
  • Emmanuel Matot
  • Michael Foundoukidis
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/12/2018

The development of ISS in integrated services and key accounts should make it possible to speed up growth and boost margins. Aside from the strong rebound in operations expected in 2019, solid FCF generation will likely be the driver in the medium term for the valuation. This valuation is attractive in our view at 10.5x 2019e EV/EBIT. - Cf. equity report - ...

Alex Koagne ...
  • Emmanuel Matot

Natixis : Some indications about the many rumours surrounding Ingenico

>Update on the news/rumours - On Wednesday evening Bloomberg announced that Natixis was looking into buying Ingenico. Yesterday morning, Natixis issued press releases confirming that preliminary talks had taken place with Ingenico with a view to an operational merger, and Ingenico said it had received “preliminary approaches for a strategic transaction”. Meanwhile, Reuters talked about Edenred being interested in Ingenico. All the news/rumours have prompted us to writ...

Alex Koagne ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 12/10/2018

...

Alex Koagne ...
  • Emmanuel Matot
  • Michael Foundoukidis
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/10/2018

Le développement d’ISS sur les services intégrés et les grands comptes devrait lui permettre d’accélérer sa croissance et d’accroître sa rentabilité. Outre le fort rebond opérationnel attendu en 2019, la solide génération de FCF sera le driver de la valorisation à moyen terme. Celle-ci nous paraît attractive à 10.5x en VE/EBIT 19e. - Cf. étude publiée ce jour. - ...

Alex Koagne ...
  • Emmanuel Matot

Natixis : Some indications about the many rumours surrounding Ingenico

>Update on the news/rumours - On Wednesday evening Bloomberg announced that Natixis was looking into buying Ingenico. Yesterday morning, Natixis issued press releases confirming that preliminary talks had taken place with Ingenico with a view to an operational merger, and Ingenico said it had received “preliminary approaches for a strategic transaction”. Meanwhile, Reuters talked about Edenred being interested in Ingenico. All the news/rumours have prompted us to writ...

Alex Koagne ...
  • Emmanuel Matot

Natixis : Quelques repères par rapport aux nombreuses rumeurs sur Ingenico

>Point sur les informations/rumeurs - Mercredi soir, Bloomberg faisait état de l’étude par Natixis d’un rachat d’Ingenico. Hier matin, via des communiqués, Natixis confirmait des discussions préliminaires avec Ingenico en vue d’un rapprochement industriel et Ingenico indiquait avoir fait l’objet d’approches préliminaires en vue d’une opération stratégique. En même temps, Reuters évoquait un intérêt d’Edenred pour Ingenico. Toutes ces nombreuses informations/rumeurs no...

Christophe Chaput ...
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/06/2018

...

Christophe Chaput ...
  • Emira Sagaama
  • François Maury
  • Georges Dieng
  • Johanna Jourdain
  • Louis Boujard
  • Matthias Desmarais
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/09/2018

...

Johanna Jourdain ...
  • Matthias Desmarais

Edenred : Partenariat stratégique avec Itau au Brésil dans les Avantages aux salariés

>Nouveaux canaux de distribution pour l’offre d’Edenred au Brésil - Edenred a annoncé avoir signé un partenariat exclusif avec Itau Unibanco au Brésil pour accélérer sa croissance dans la division Avantages aux salariés. Itau est l’un des principaux réseaux bancaires au Brésil, avec notamment 4 400 agences, comptant plus de 1 million d’entreprises clientes. Ce partenariat va permettre à Edenred de bénéficier du réseau de distribution physique et digital d’Itau po...

1 director sold

A director at Edenred sold 10,571 shares at 33.251EUR and the significance rating of the trade was 78/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Alex Koagne ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/12/2018

...

Alex Koagne ...
  • Emmanuel Matot
  • Michael Foundoukidis
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/12/2018

The development of ISS in integrated services and key accounts should make it possible to speed up growth and boost margins. Aside from the strong rebound in operations expected in 2019, solid FCF generation will likely be the driver in the medium term for the valuation. This valuation is attractive in our view at 10.5x 2019e EV/EBIT. - Cf. equity report - ...

Alex Koagne ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Jeremy Garnier
  • Jerôme Bodin
  • Johanna Jourdain
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 12/10/2018

...

Alex Koagne ...
  • Emmanuel Matot
  • Michael Foundoukidis
  • Pierre Tegner
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/10/2018

Le développement d’ISS sur les services intégrés et les grands comptes devrait lui permettre d’accélérer sa croissance et d’accroître sa rentabilité. Outre le fort rebond opérationnel attendu en 2019, la solide génération de FCF sera le driver de la valorisation à moyen terme. Celle-ci nous paraît attractive à 10.5x en VE/EBIT 19e. - Cf. étude publiée ce jour. - ...

Alexandre Iatrides ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emira Sagaama
  • Georges Dieng
  • Igor Kim, CFA
  • Johanna Jourdain
  • Léopold Authié
  • Matthias Desmarais
  • Nicolas Kieffer
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/25/2018

...

EDENRED sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of EDENRED (FR), a company active in the Business Support Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 16, 2018, the closing price was EUR 25.11 and its potential was estimated at EUR 26.52.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Jehanne Leroy

Proxy Report - 03/05/2018

ITEM 6: the renewal of the Chairman and CEO’s mandate is proposed. Proxinvest supports this resolution taking into account counter powers implemented and the group’s market and environmental performances. However, we note that the double voting right has been maintained (even if only 2% of shares have double voting rights), creating a rights distortion between shareholders (precisely between registered shareholders who can have double voting rights and holder of bearer shares who cannot). ITEM 10: the 2018 Chairman and CEO remuneration policy is not supported considering structure and amounts...

Jehanne Leroy

Proxy Report - 03/05/2018

Le renouvellement du mandat du Président Directeur Général, M. Dumazy, est proposé en résolution 6. Proxinvest soutient ce renouvellement au regard des divers contre-pouvoirs mis en place et des performances du groupe tant boursières qu'environnementales depuis que M. Dumazy est Président Directeur Général. On notera toutefois que la société a maintenu le droit de vote double (et ce alors même que seulement 2% des actions en bénéficient), créant ainsi une différence de traitement entre tous les actionnaires (notamment entre les actionnaires au nominatif, qui peuvent en bénéficier, et ceux au p...

Etude de l'AG du 04/05/2017

Non-tax deductible expenses amounted to € 161,483 (€169,134 in the previous financial year) i.e. 0.9% of consolidated net income. These amounts exceed our limit of € 100,000 and the Company has not provided a justification for them (resolution 1).The remuneration of Chairman and Chief Executive Officer Bertrand Dumazy for 2016 is excessive (resolution 5), as well as his proposed remuneration for the financial year 2017 (resolution 6).

Etude de l'AG du 04/05/2017

Proxinvest regrette que la société ait encore une fois associé l'approbation des charges non déductibles à l'approbation générale des comptes. Selon la politique de vote de Proxinvest, sauf lors de montants non significatifs inférieurs à 100 000 €, les dépenses non déductibles non détaillées par nature et nombre de bénéficiaires, non quantifiées, ou mal justifiées feront l’objet d’une opposition. Or pour l'exercice 2016, les dépenses non déductibles ont représenté 161 483 € (169 134 lors de l'exercice précédent) sans que la société n'apporte de justification (résolution 1). La rémunération du ...

Valérie GASTALDY
Valérie GASTALDY

Medium term view - EDENRED : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €25.21.

Valérie GASTALDY

Analyse moyen terme - EDENRED : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 35,20 € et 37,55 €. La tendance serait invalidée sous le support à 25,21 €.

Valérie GASTALDY

Medium term view - EDENRED : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €35.20 and €37.55. The trend would be invalidated below the support at €25.21.

Valérie GASTALDY

Medium term view - EDENRED : Prices are still making progress.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €35.20 and €37.55. The trend would be invalidated below the support at €25.21.

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