Edenred

The Combined General Meeting of May 7, 2020 adopts all resolutions - Seite 2

A group taking action alongside people at work amid the Covid-19 epidemic

Faced with the impact of the Covid-19 epidemic in the 46 countries where the Group operates, Edenred’s 10,000 employees are working hard on five priorities:

• Protecting the health of the Group’s employees with the introduction of home-working arrangements for 95% of the workforce, made possible thanks to significant investments in digital tools in recent years;
• Guaranteeing excellent business continuity and service quality for 850,000 clients, 50 million users and 2 million partner merchants, through a leading-edge technology platform, a large offer of digital solutions representing more than 83% of consolidated business volume, and established connections with around 50 of the biggest meal delivery platforms;
• Quickly and agilely designing new digital solutions to organize the distribution of earmarked funds (i.e., funds dedicated to specific purposes) to cover fundamental needs (Eat, Move, Care, Pay), in response to urgent demand from some companies and governments;
• Limiting the impact of the crisis on Edenred’s earnings by launching a €100 million cost-saving plan in 2020 and revising intended capital expenditure for the year downward, without compromising the Group’s capacity for technological innovation or growth;

• Helping Edenred’s ecosystem to mitigate the consequences of the Covid-19 epidemic, via local initiatives and the “More than Ever” relief plan, through which the Group has pledged to commit up to €15 million. The relief plan will notably be financed by:
  • the 20% decrease in the dividend initially proposed for 2019, to €0.70 per share;
  • the reduction in the Chairman and Chief Executive Officer’s compensation, in line with AFEP recommendations;
  • the reduction in the compensation of the members of the Group’s Executive Committee and Board of Directors.

                         

A resilient group

A leading digital services and payments platform and the everyday companion for people at work, Edenred has strong fundamentals that will enable it to stay resilient through the challenging times brought about by Covid-19 and create new opportunities from the crisis:

• a high-growth profile and robust financial position;
• offers covering essential needs (Eat, Move, Care, Pay);
• a leading position on vastly underpenetrated markets in 46 countries;
• a multilocal, agile organization;
• an innovative digital offering dedicated to delivering earmarked payment solutions.

A replay of the General Meeting, as well as the detailed results of the votes, are accessible on Edenred’s website (www.edenred.com, Investors/Shareholders section, then General Meeting). A summary will be available online shortly.