Edenred slides on Europe slowdown

Pluxee

16/04/2025 09:22

** Shares in Edenred EDEN.PA slide 1.8%, after falling as much as 3.4%, after the French voucher company posted in-line Q1 revenue but warned about a more challenging macro-economic environment, especially in Europe

** "Whilst we see the overall performance as decent, France and Germany continue to lag on the back of uncertain macro, with 'a slowdown in orders from many current customers, due to staff reductions' in France," J.P. Morgan notes

** The broker says the encouraging momentum in LatAm is a positive read to the broader vouchers universe, but adds the muted topline momentum in Europe will raise some concerns

** Stifel says the group needs to showcase its ability to meaningfully expand its operating EBITDA margin in H1 2025

** French peer Pluxee PLX.PA is down 2.9%

 (Reporting by Dimitri Rhodes)

 ((Dimitri.rhodes@thomsonreuters.com))