Edenred has unveiled its new strategic plan, Amplify 25-28, during an investor meeting in Paris, aiming to expand its user base and increase revenue per user.
According to the press release, Edenred's Amplify 25-28 plan aims to achieve a total revenue of over 5 billion euros by 2030. The group expects an EBITDA growth of between +8% and +12% during the plan period. For 2026, Edenred anticipates an organic EBITDA growth of between +2% and +4%, which includes the impact of regulatory changes in Italy. From 2027 to 2028, the company targets an annual organic EBITDA growth of between +8% and +12%. The company also forecasts a free cash flow conversion rate on EBITDA of over 65% each year.
User Growth and Revenue Enhancement
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Edenred aims to increase the number of users of its solutions and raise the average annual revenue per user from the current 46 euros to about 70 euros by 2030. The Amplify plan is based on three pillars: Attract to increase customer acquisition, Enrich to leverage cross-selling opportunities, and Activate to monetize the user audience with partner merchants. Edenred plans to bolster its investments in products and technology, with planned expenditures reaching 1.8 billion euros between 2026 and 2028.
Capital Allocation and Strategic Acquisitions
According to Edenred, the capital allocation policy during the duration of the Amplify 25-28 plan should balance organic and external growth while delivering attractive returns to shareholders. The company intends to maintain an annual investment spending envelope between 6% and 8% of its total revenue. Edenred also plans to carry out strategic acquisitions to consolidate its leadership positions and diversify its offerings. The group has also announced a share buyback program, with an additional 300 million euros over a maximum period of three years.
SectorTickets restaurants›Services de traitement des transactions
Context
Period
Period: 3T 2025
Guidance from the release
Edenred confirme la solidité de son modèle économique et réaffirme ses objectifs 2025, visant au moins 10 % de croissance organique de l’EBITDA et un taux de conversion Free-cash-flow/EBITDA supérieur à 70 %.
Croissance organique accélérée au T3 2025 (+8,2 % chiffre d’affaires opérationnel) portée par toutes les lignes de métier, forte dynamique en Amérique latine et amélioration en Europe; Mobilité en croissance à deux chiffres; Solutions complémentaires en repli. Effets de change négatifs et impact réglementaire en Italie (plafonnement commissions) anticipés.
Risks mentioned
Impact négatif attendu de 60 millions d’euros d’EBITDA lié au plafonnement des commissions marchands en Italie
Effets de change défavorables (dépréciation des devises en Amérique latine, notamment réal brésilien et peso mexicain)
Environnement macroéconomique incertain pouvant affecter la consommation et la demande
Opportunities identified
Hausses des valeurs faciales des titres-restaurant dans plusieurs pays (ex. Belgique +25% à partir du 1er janvier 2026) soutenant la croissance organique
Partenariats stratégiques (Visa, Esso, grand distributeur de carburant) renforçant l’offre et l’accès au marché
Déploiement des solutions Beyond Food et Beyond Fuel et conquête du segment PME encore sous-pénétré
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