Edenred plans action on amendment to the Italian Competition Authority
By Mathias de Rozario
Oct 24 (Reuters) -French vouchers and benefit cards provider Edenred EDEN.PA is planning to bring an action against the cap on meal voucher amendment alongside the Italian voucher association (ANSEB) to the Italian Competition Authority, the company said on Thursday.
"On 23 October 2024, an amendment to introduce a 5% cap on meal voucher commissions paid by merchants in the private sector was tabled as part of a competition bill in Italy", Edenred said in a statement.
It added this could have a 60 million euros ($64.66 million) impact on the group's EBITDA for the second half of 2025.
Chief Financial OfficerJulien Tanguy, however, said in a media call he was confident in the company's ability to generate organic EBITDA growth of at least 10% in 2025 even if the 5% cap was confirmed.
"The introduction of such a cap would contradict the principles of freedom to set prices enshrined in Italian and European commercial law", Edenred added.
($1 = 0.9280 euros)
Reporting by Mathias de Rozario
Editing by Marguerita Choy
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