Edenred Q1 Revenue Beats Forecast, Shares +4%

Edenred SA reported Q1 total revenue €730 million, up 3.1% YoY, surpassing consensus €712 million.
Operating revenue reached €673 million (+3.1% YoY), beating €661 million consensus; adjusted for fee caps, growth was 8.2% LFL.
Mobility segment led with €176 million revenue, up 10% YoY, while Benefits & Engagement grew only 0.2% due to regulatory drag.
Company reaffirmed 2026 guidance of 8‑12% EBITDA decline (intrinsic 8‑12% growth) and ≥35% free‑cash‑flow conversion; Italian regulator opened competition probe.