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