October 23, 2019 / 6:41 AM / 20 days ago

France's Edenred sees annual EBITDA growth of over 10%

Oct 23 (Reuters) - Edenred on Wednesday unveiled its strategic plan for 2019-2022 as the French pre-paid corporate service vouchers provider aimed at like-for-like annual EBITDA growth of more than 10%.

Edenred, which is known for its ‘Ticket Restaurant’ vouchers, said it also expects operating revenue growth of more than 8% on a like-for-like basis and a free cash-flow conversion rate of more than 65%.

The French company said it plans to earmark between 6% and 7% of its total revenue each year for investments in 2019-2022 and also introduced a dividend.

The Paris-based firm expects an annual increase of at least 0.01 euro ($0.0111) of its dividend, as from 2020.

Edenred, which helps companies manage staff expenses and benefits, reported earlier in October a consensus-beating operating revenue for the third quarter and confirmed it full-year guidance.,

Company’s stock climbed over 34% so far this year.

$1 = 0.8992 euros Reporting by Michal Aleksandrowicz in Gdansk, Editing by Sherry Jacob-Phillips

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