Pluxee Fiscal 2025 Results

Core Insights - Pluxee demonstrated strong performance in Fiscal 2025, achieving sustained growth, significant margin expansion, and record cash generation, setting a solid foundation for Fiscal 2026 [1][6][7] Financial Performance - Total Revenues reached €1,287 million, reflecting a 10.6% organic growth and a 6.4% reported growth compared to Fiscal 2024 [2][14] - Recurring EBITDA increased to €471 million, marking a 22.2% organic growth and a 9.4% reported growth, with a recurring EBITDA margin of 36.6%, up 230 basis points organically [2][24][25] - Operating profit (EBIT) grew by 34.3% to €335 million, while net profit for the year attributable to the Group increased by 48.6% to €197 million [2][29][32] - Adjusted net profit attributable to the Group reached €221 million, an 8.4% increase year-on-year, with adjusted earnings per share of €1.52, up 9.1% [2][34][35] Cash Flow and Financial Position - Recurring free cash flow generation was €417 million, up 10.0%, resulting in a recurring cash conversion rate of 89%, exceeding the 75% target [2][36][41] - The net financial cash position improved to €1,163 million, an increase of €108 million year-on-year, supported by strong cash flow generation [2][42] Business Segments and Growth Drivers - Employee Benefits business volumes issued reached €18.7 billion, reflecting a 7.6% organic growth, with a net retention rate maintained at 100% [11][12] - Other Products & Services business volumes remained stable at €5.8 billion, impacted by the discontinuation of large Public Benefits programs [13][19] - The Group's strategic acquisitions, including Cobee and Benefício Fácil, contributed to growth and market position enhancement [46][47][49] Shareholder Returns and Future Outlook - A dividend of €0.38 per ordinary share was proposed, representing a 9% increase year-on-year, alongside a €100 million share buyback program [52][54] - For Fiscal 2026, Pluxee aims for high single-digit organic growth in Total Revenues, a 100 basis points increase in Recurring EBITDA margin, and an average recurring cash conversion above 80% [6][60]