Note 14 Glossary
14.1 Business volume
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Business volume comprises total issue volume of Employee Benefits, Incentive & Rewards solutions, Public Social Programs and Corporate Payment Services, plus the transaction volume of Fleet & Mobility Solutions and other solutions.

 

14.2 Operating revenue
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Operating revenue corresponds to revenue from (i) the voucher business managed by Edenred and (ii) value-added services such as incentive programs, human services and event-related services. It corresponds to the amount billed to the corporate client and is recognized on delivery of the solutions.

 

14.3 Other revenue
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Other revenue is the interest generated by investing cash over the period between:

  • the issuance date and the reimbursement date for prepaid vouchers; and
  • the loading date and the redeeming date for prepaid cards.

Other revenue represents income from operations and is combined with operating revenue to determine total revenue.

 

14.4 EBITDA
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This aggregate corresponds to total revenue (operating revenue and other revenue) less operating expenses (excluding depreciation, amortization and impairment). This aggregate is used as the benchmark for determining compensation at the Group level, especially for executives, as it reflects the economic performance of the business.

 

14.5 Operating EBIT
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This aggregate corresponds to EBIT less other revenue.

 

14.6 EBIT
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This aggregate is the “Operating profit before other income and expenses”, which corresponds to total revenue (operating revenue and other revenue) less operating expenses, depreciation, amortization (mainly intangible assets, internally generated or acquired assets) and non-operating impairment. It is used as the benchmark for determining compensation at the Group level, especially for executives, as it reflects the economic performance of the business.

EBIT excludes the net profit from equity-accounted companies and excludes the other income and expenses recognized in “Operating profit including share of net profit from equity-accounted companies”.