Edenred SE
EDEN: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€72.00 | Ssnq | Fpbdfwt |
Eden Earnings: Solid Momentum Points to a Strong 2024
Edenred closed out 2023 in a strong position. Organic revenue growth was north of 23% year over year, with EBITDA up more than 30%, reflecting strong margin growth. Full-year guidance points to another strong 2024 with EBITDA growth of more than 12%. Despite the recent fall in the share price on the back of legal concerns in Italy, we reiterate our EUR 76 fair value estimate and see the shares as attractive.