By Ambroise Ecorcheville
PARIS--French meal vouchers company Edenred SA (EDEN.FR)
Thursday said it expects operating profit in 2014 to be little
changed from the previous year as a depreciation in South American
currencies continues to weigh on its results.
Edenred said it expects its earnings before interest and taxes
in 2014 to be between 335 million euros ($449 million) and EUR350
million, compared with EUR343 million in 2013. The company expects
currency deprecation in Brazil and Venezuela to lower its EBIT by
around EUR20 million in the second half of this year, down from a
negative impact of EUR35 million in the first half.
During the first half of the year, the company's EBIT was EUR148
million, down 6.7% from the same period a year ago. Overall revenue
during the first half of the year was EUR486 million, down 3.4%
from the corresponding period a year earlier.
Edenred's net profit in the first half of the year was down 9.3%
at EUR70 million.
Separately, the company announced a partnership with American
Express (AXP) in Mexico that will allow the U.S. credit card
company to offer new services to customers such as gas vouchers
offered by Edenred.
Write to Ambroise Ecorcheville at
ambroise.ecorcheville@wsj.com
Access Investor Kit for Edenred SA
Visit
http://www.companyspotlight.com/partner?cp_code=A591&isin=FR0010908533
Access Investor Kit for American Express Co.
Visit
http://www.companyspotlight.com/partner?cp_code=A591&isin=US0258161092
Subscribe to WSJ: http://online.wsj.com?mod=djnwires