Edenred SE

EDEN: XPAR (FRA)

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Edenred: Lowering Fair Value 7.5% on Larger-Than-Anticipated Brazil Regulation Impact

Ben Slupecki

Nov 12, 2025

Brazil's government provided an overview of its updated regulatory framework, which caps the merchant discount rate at 3.6% and requires voucher payments within 15 days, down from 30 days. Edenred anticipates an organic EBITDA decline of 8%-12% in 2026, down from an anticipated increase of 2%-4%.

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Edenred SE

Edenred: Lowering Fair Value 7.5% on Larger-Than-Anticipated Brazil Regulation Impact

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