By Mathias de Rozario
(Reuters) -French voucher and benefits company Pluxee raised its guidance for its 2025 and 2026 fiscal years on Thursday after what it described as a solid performance this year.
The company’s shares were 3.6% higher by 0845 GMT
Pluxee now targets an expansion in its recurring EBITDA margin of 75 basis points (bps) in both its 2025 and 2026 financial years, and said it would reach its three-year target of a 250 bps organic increase in the margin one year ahead of plan in 2025.
The former Sodexo division also expects a recurring cash conversion, the rate at which it turns revenue into cashflow, above 75% on average over the 2024 to 2026 period, compared to the above 70% previously announced.
“In 2024, we had to increase investments and strengthen our structure, so a large part of the operating leverage was absorbed…to strengthen our fundamentals, whereas in ’25 and ’26 we expect a much greater impact,” CEO Aurélien Sonet said on a call with journalists.
For its first year as a standalone company, Pluxee’s recurring earnings before interest, taxes, depreciation and amortisation (EBITDA) totalled 430 million euros ($466.59 million) compared with the 426 million euros in a company-provided consensus.
The company’s activities in Europe and Latin America accounted for 44.7% and 38.4%, respectively, of the 1.06 billion euros of total operating revenue.
Sonet said the number of contracts signed had reached a new high, totalling 1.6 billion euros in 2024.
“This underlines both the commercial momentum and the dynamism of our commercial engine,” he said.
The CEO said the acquisition of Spain’s Cobee would not have a significant impact on Pluxee’s 2025 revenue and expected it to be accretive from 2026.
Sonet added that an Italian proposal to cap meal voucher commissions at 5% would not have an impact on Pluxee’s medium-term guidance.
(Reporting by Mathias de Rozario; Editing by Christian Schmollinger, Kirsten Donovan)
