Pluxee Q1 Revenue Up 9 Pct, Confirms Fiscal 2026 Targets

KUALA LUMPUR, Jan 7 (Bernama) -- Pluxee reported first-quarter (Q1) fiscal 2026 total revenues of 308 million euros, up 9.0 per cent organically, marking a robust start to the year and prompting the group to reaffirm all full-year financial objectives. (1 Euro = RM4.73)

Operating revenue rose 9.1 per cent organically to 268 million euros, driven by sustained momentum in Employee Benefits, which delivered 11.6 per cent organic growth, while float revenue increased 8.5 per cent organically to 40 million euros.

In a statement, its Chief Executive Officer, Aurélien Sonet said the results reflected disciplined execution, steady commercial performance in Employee Benefits, and continued progress on the group’s strategic roadmap, including mergers and acquisitions (M&A).

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Employee Benefits business volumes reached 5.0 billion euros, up 5.4 per cent organically, supported by strong new client acquisition and a net retention rate maintained at 100 per cent.

Meanwhile, business volumes in Other Products and Services declined to 1.3 billion euros from 1.7 billion euros a year earlier, reflecting the expected termination, scale-down, or deferral of certain public benefits programmes in Continental Europe.

By region, Latin America recorded 14.3 per cent organic operating revenue growth, led by Brazil, while the Rest of the World grew 12.6 per cent organically despite significant currency headwinds. Continental Europe posted 2.7 per cent organic growth, with strong performance in Southern Europe partly offset by a challenging economic environment elsewhere.

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During the quarter, Pluxee completed the acquisitions of Skipr in Belgium and France and ProEves in India, both funded from existing cash resources and without impact on group leverage, as part of its ongoing M&A strategy.

Pluxee confirmed all fiscal 2026 financial objectives, including stable like-for-like total revenues, a slight organic expansion in recurring earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin, and an average recurring cash conversion rate of around 80 per cent, while continuing to manage regulatory developments in Brazil.

-- BERNAMA