Edenred

Edenred is a French company specialised in prepaid corporate services. The Group is independent since June 2010 following the split with Accor. Formerly known as Accor Services, Edenred is the inventor of Ticket Restaurant, created in 1962, and a leading distributor of meal vouchers. Today, Edenred offers solutions for employee benefits, fleet and mobility and corporate payment. 44 million employees use Edenred services worldwide.[2]

Edenred SA
Public limited company
Traded asEuronext: EDEN
CAC Next 20 Component
ISINFR0010908533 
IndustryPrepaid corporate services
FoundedJune 29, 2010 (2010-06-29)[note 1]
Headquarters
Malakoff
,
France[1]
Area served
Worldwide
Key people
Bertrand Dumazy
(Chairman and CEO)
ProductsTicket Restaurant®
Revenue€1.339 billion (2017)
Number of employees
Over 8,000 employees as of February 20, 2018
WebsiteEdenred.com

History

Inspired by the original Luncheon Voucher, a concept launched in the United Kingdom in 1954, Jacques Borel created Ticket Restaurant on the French market in 1962. A French government decree, passed in 1967, officially recognized the meal voucher as an employee benefit. The concept was launched outside France starting in 1976.

Employee benefits continued to grow worldwide, first in Europe and then in Latin America, thanks to two programs: Ticket Restaurant and Ticket Alimentación. The Ticket Restaurant® entity, which had been a subsidiary of the Accor Group since 1983, set itself a new course in 1998, when it became Accor Services.

From the 2000s, the pace of growth increased, giving rise to "incentive and rewards" solutions, in Europe and Asia, in addition to Expense management, solutions, with the development of Ticket Car in Latin America.

Following the split of Accor's hotel and prepaid services businesses, Accor Services became Edenred in June 2010.[3] The new group became independent, defined its corporate mission project and was listed on NYSE Euronext Paris on July 2, 2010. Jacques Stern was appointed chairman and chief executive officer.

The group sped up its transformation by making digital technology a pillar of its strategy and launched the Ticket Restaurant® card in France in April 2014. As of 2015, 78% of the group's business volume around the world was generated from digital solutions.[4][5]

Edenred also launched new solutions including Ticket Plus Card in Germany (staple goods: food, fuel, meals) and Ticket Cultura® in Brazil (cultural goods and services).[6]

Moreover, Edenred consolidated its development strategy for its Expense management activity, by finalizing the acquisition of a 34% stake in UTA in Germany and by establishing a major partnership in Brazil with Daimler[7] in 2015.

Bertrand Dumazy became Chairman and Chief Executive Officer of Edenred on October 26, 2015.[8]

On May 31, 2016, Edenred finalized its acquisition of Embratec's operations in Brazil, creating a leading player in this fast-growing segment.[9]

In January 2017, Edenred takes over UTA majority, one of the leading providers of fuel and service cards in Europe.[10]

On June 14, 2017, Edenred unveiled its new global identity. The group will market all of its solutions in 42 countries under the Edenred brand.[11]

Ownership

According to the company website: 94.6% institutional investors, 4.8% individual shareholders, 0.6% own shares.[12]

Expansion
Edenred has subsidiaries in 45[13] countries.

Edenred currently operates in 45 countries and over 8,000 employees. Has been operating in Venezuela for 26 years. The group has moved into new countries since 2010: Finland in 2011, Japan in 2012, Russia, the United Arab Emirates in 2014 and Moldova in 2018.[14]

Governance

Chairman and CEO

2010-2015: Jacques Stern

Since October 26, 2015: Bertrand Dumazy

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References

Footnotes
  1. Date of demerger from Accor.

Citations
  1. "Company Description: Edenred". businessweek.com. BusinessWeek. Retrieved 12 August 2012.
  2. "Information about the Edenred group". www.edenred.com. Retrieved 2015-11-13.
  3. "press release Edenred" (PDF).
  4. "PR HY2015" (PDF). Archived from the original (PDF) on 2015-11-17.
  5. "Edenred 2017 annual results press release" (PDF). Edenred.
  6. "PR Ticket Cultura".
  7. "Edenred / Daimler Reuters".
  8. "B.Dumazy / Edenred Reuters".
  9. http://www.edenred.com/en/medias/news-and-press-releases/edenred-finalizes-its-alliance-embratec-brazil
  10. https://www.uta.com/tankkarte/0/12255E528CAAB35DC12580AE0022D870/$FILE/PR_Edenred_UTA_EN_final.docx
  11. http://www.edenred.com/en/medias/news-and-press-releases/edenred-unveils-new-global-identiy
  12. "Edenred capital structure". Archived from the original on 2017-06-06.
  13. "Edenred Worldwide - The Edenred Group". www.edenred.com. Retrieved 2015-11-13.
  14. "Edenred to issue meal benefits in the Republic of Moldova in 2018". Business review.

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