Edenred’s 2024 General Meeting approves all resolutions

Press release

May 7, 2024

Edenred’s 2024 General Meeting approves

all resolutions

The Combined General Meeting of Edenred shareholders was held today at Comet Bourse, 35 rue Saint-Marc, 75002 Paris, under the chairmanship of Bertrand Dumazy, Chairman and

Chief Executive Officer. Shareholders who were unable to attend the Edenred General Meeting in person were able to follow the live online broadcast in French or English. The quorum was met, at 87.97%.

The General Meeting adopted all of the resolutions proposed by the Board of Directors, notably:

•       the payment of a dividend of €1.10 per share in respect of 2023, entirely in cash, with an ex-dividend date of June 10, 2024 and a payment date of June 12, 2024;

•       the renewal of Dominique D'Hinnin as a director;

•       the ratification of the cooption of Nathalie Balla as a director. 

The composition of the Board of Directors was unchanged following the General Meeting. The Board therefore continues to comprise 12 members, including two employee-representative directors. It includes five women out of the 10 members appointed by the General Meeting and the proportion of independent directors is 90% (i.e 9 out of 10 members) based on the calculation method in the AFEP-MEDEF Code, which also excludes employee-representative directors. Directors whose names are followed by an asterisk (*) are independent directors:

•       Cédric Appert, employee-representative director

•       Nathalie Balla*

•       Sylvia Coutinho*

•       Dominique D’Hinnin*, Lead Independent Director and Vice-Chairman of the Board of Directors

•       Bertrand Dumazy, Chairman and Chief Executive Officer 

•       Angeles Garcia-Poveda*

•       Maëlle Gavet*

•       Graziella Gavezotti, employee-representative director^[1]

•       Jean-Romain Lhomme*

•       Monica Mondardini*

•       Bernardo Sanchez Incera*

•       Philippe Vallée*

The Board of Directors also decided to reappoint Dominique D'Hinnin as Lead Independent Director and Vice-Chairman of the Board of Directors, Chairman of the Compensation, Appointments and CSR Committee, and member of the Audit and Risks Committee.

The composition of the committees was unchanged following the General Meeting. As a result, membership of the committees remains as follows:

•       Audit and Risks Committee: Bernardo Sanchez Incera (Chairman), Dominique D’Hinnin, Graziella Gavezotti and Monica Mondardini; 

•       Compensation, Appointments and CSR Committee: Dominique D’Hinnin (Chairman), Sylvia Coutinho and Angeles Garcia Poveda; 

•       Commitments Committee: Jean-Romain Lhomme (Chairman), Cédric Appert, Maëlle Gavet and Philippe Vallée.

Edenred successfully continues the roll out of its Beyond_22-25 plan

At the General Meeting, Bertrand Dumazy, Chairman and Chief Executive Officer, looked back over the roll-out of the Group strategic plan called Beyond_22-25. 

Operating in an environment marked by far-reaching changes in the working world and a new era of mobility, Edenred comforts its position as the benchmark global platform for employees benefits and engagement, and for seamless and efficient mobility management. 

On the one hand, thanks to its commercial strength, Edenred continues to win new customers for its offers linked to food and energy cards, markets which are still largely under-penetrated. On the other hand, Edenred is enriching its business model by expanding its portfolio with more Beyond Food and Beyond Fuel solutions. Edenred notably made several significant acquisitions in 2023 in the field of Employee Engagement solutions (Reward Gateway, GOintegro). Edenred thus takes full advantage of the power of its digital and connected platform to aggregate, orchestrate and distribute a growing number of solutions, including third-party solutions. Technological investment in its platform therefore remains a priority for Edenred, particularly in order to exploit the full potential of data and artificial intelligence.

Julien Tanguy, Executive Vice President, Finance, presented Edenred's compliance policy, reviewing the procedures in place, such as a whistleblowing system or mandatory training in compliance and business ethics, adopted in the whole Group. In 2024, Edenred further strengthened its approach, notably with the implementation of new control procedures in the context of responses to tender processes, which will be deployed in all the Group's business units and require an update of the internal audit procedures.

2023, another year of record results for Edenred

Julien Tanguy, commented on Edenred's record financial performance in 2023. Edenred generated total revenue of over €2.5 billion in 2023, while its EBITDA also reached a record level, crossing the €1 billion mark. Year after year, this virtuous dynamic of profitable and sustainable growth brings us ever more opportunities to consolidate Edenred's leadership position and broaden the scope of its businesses, while enabling the Group to invest heavily in its digital and connected platform.

Throughout 2023, Edenred also continued to implement its corporate social responsibility policy, "Ideal", across three main areas: People, Planet and Progress. The Group exceeded its non-financial objectives for 2023, while its commitment to environmental, social and governance (ESG) practices is increasingly recognized. By way of example, Edenred has been included in the Euronext CAC 40 ESG index on the Paris stock exchange for the second year in a row.

Edenred has started 2024 very well

Edenred began the 2024 financial year with further sustained growth in its business, with revenue for the first quarter of 2024 being the eighth consecutive quarter showing organic growth above 20%. Edenred is also continuing its investments to strengthen its technological leadership and fuel its innovation strategy. In addition, the Group continued to seize targeted external growth opportunities (RB, Spirii, IP).

A replay of the General Meeting, as well as the detailed results of the votes, can be accessed on Edenred’s website (www.edenred.com,Investors/Shareholders section, or by clicking here). A summary will be available online shortly.

UPCOMING EVENTS

July 23, 2024: First-half 2024 results

October 24, 2024: Third-quarter 2024 revenue

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About Edenred

Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 60 million users and more than 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), engagement (such as gift cards and dedicated platforms), mobility (such as multi-energy solutions, including EV charging, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards). 

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and sustainable mobility.

Edenred's 12,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. 

In 2023, thanks to its global technology assets, the Group managed €41 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40, CAC 40 ESG, CAC Large 60, Euronext 100, Euronext Tech Leaders, FTSE4Good and MSCI Europe.

The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.

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CONTACTS

Communications Department

Emmanuelle Châtelain 

+33 (0)1 86 67 24 36 emmanuelle.chatelain@edenred.com

Media Relations 

Matthieu Santalucia +33 (0)1 86 67 22 63 matthieu.santalucia@edenred.com Investor Relations 

Cédric Appert

+33 (0)1 86 67 24 99 cedric.appert@edenred.com 

Baptiste Fournier  +33 (0)1 86 67 20 73 baptiste.fournier@edenred.com

Individual Shareholder Relations

Lucie Morlot 

(Toll-free number from France): 0 805 652 662  relations.actionnaires@edenred.com