Edenred

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Edenred SA
Type Société anonyme
Traded as EuronextEDEN
Industry Business support services
Founded June 29, 2010 (2010-06-29)[note 1]
Headquarters Malakoff, France[1]
Area served Worldwide
Key people Jacques Stern
(Chairman and CEO)
Revenue €1.03 billion (2011)[2]
Profit €194.0 million (2011)[2]
Total assets €4.67 billion (2011)[2]
Total equity €1.01 billion (2011)[2]
Employees 6000
Website Edenred.com

Edenred, formerly Accor Services, is an international firm providing prepaid performance enhancement and commuter benefit services for businesses.[1][3] Headquartered in Malakoff, France, Edenred has been autonomous since June 2010, following its split from the Accor group.[4][5] The company introduced the "Ticket Restaurant" brand of meal vouchers to France in 1962 and has since expanded it globally.[6]

The company is present in 40 countries on five continents (North America, South America, Europe, Asia and Africa) and has nearly 6,000 employees.[7] The Edenred Group has been listed on NYSE Euronext Paris since July 2, 2010.[8]

Products and Services[edit]

Edenred's offerings include the Ticket Restaurant® meal voucher, the Commuter Check® commuting cost reduction program,[9] the WiredCommute® commuter benefit solutions program,[10] the Compliments® Card providing reward and incentive solutions to motivate better workplace behavior,[11] and the Target:Nutrition® employee wellness solutions program.[12][3]

Ownership[edit]

According to the company website, Edenred is 73.57% owned by institutional shareholders, 21.50% by Colony Capital and Eurazeo, 4.79% by individual shareholders and a 0.14% is a capital retained as treasury stock.[13]

Development[edit]

Edenred was formed on June 29, 2010, after the shareholders of Accor approved its demerger. Colony Capital and Eurazeo, the most important stakeholders then, agreed to keep their shares in both companies until early 2012.[4] In July 2010, the company went public and ended the year with a €965 million turnover and an annual operating profit between €310 and €330 million,[8] with a gross margin of approximately 30%. In 2011, revenues increased 6.9%.[5]

Expansion[edit]

Edenred has subsidiaries in more than 30 countries.

In July 2012, Edenred acquired Barclay Vouchers, the sole provider in the Japanese meal voucher market, at a cost of €28 million. It also purchased Comprocard, a food voucher company of Brasil, for about €24 million. These transactions further Edenred's objective to create six or eight new international subsidiaries by 2016.[14]

In February 2013, Edenred announced its expansion into Colombia, the 40th country in which the corporation has a presence.[15]

References[edit]

Footnotes[edit]

  1. ^ Date of demerger from Accor.

Citations[edit]

  1. ^ a b "Company Description: Edenred". businessweek.com. BusinessWeek. Retrieved 12 August 2012. 
  2. ^ a b c d "2011 Consolidated financial stataments" (PDF). Edenred. Retrieved 12 August 2012. 
  3. ^ a b "Profile: Edenred SA". reuters.com. Reuters. Retrieved 12 August 2012. 
  4. ^ a b Spencer, Mimosa (29 June 2010). "Accor Holders Vote to Split Company". online.wsj.com. The Wall Street Journal. Retrieved 12 August 2012. 
  5. ^ a b "Edenred 2011 Revenue Rose 6.9%; Reaffirms EBIT target". online.wsj.com. The Wall Street Journal. 16 January 2012. Retrieved 12 August 2012. 
  6. ^ "History". Edenred. Retrieved 12 August 2012. 
  7. ^ "Key Data". Edenred. Retrieved 12 August 2012. 
  8. ^ a b Amsili, Sophie (24 February 2011). "Les premiers pas d'Edenred ne déçoivent pas" [The first steps of Edenred do not disappoint]. lefigaro.fr (in French). Le Figaro. Retrieved 12 August 2012. 
  9. ^ http://www.commutercheck.com/Home.aspx
  10. ^ http://www.wiredcommute.com/Home.aspx
  11. ^ http://www.compliments-card.com/en/index.php
  12. ^ http://www.edenredusa.com/solutions.html#solutions-cc
  13. ^ "Capital Structure". Edenred. Retrieved 12 August 2012. 
  14. ^ Pearson, David (5 July 2010). "Edenred Acquires Companies In Japan, Brazil". online.wsj.com. The Wall Street Journal. Retrieved 12 August 2012. 
  15. ^ Edenred (February 6, 2013). "Edenred enters Colombia, the Group’s 40th country". http://www.edenred.com/en/. Edenred. Retrieved August 28, 2013.