Pluxee has reported a strong start to its Q1 Fiscal 2026, achieving revenues of €308 million, marking a 9.0% organic growth compared to the same period last year. The company confirmed all its financial objectives for Fiscal 2026, driven by a robust performance in the Employee Benefits sector. This positive momentum comes amid a challenging regulatory environment, particularly in Brazil.
The company reported operating revenues of €268 million, which also reflects a 9.1% organic increase. A significant contributor to this growth was the Employee Benefits division, which saw an organic growth rate of 11.6%, amounting to €234 million. Additionally, float revenue remained stable at €40 million, reflecting an 8.5% organic growth.
Business Performance and Market Expansion
Pluxee’s total business volumes issued (BVI) reached €6.3 billion for the quarter, although down from €6.5 billion in Q1 Fiscal 2025. The Employee Benefits segment was particularly strong, generating volumes of €5.0 billion, a 5.4% organic increase. The company noted a net retention rate of 100%, highlighting its success in client loyalty and new acquisitions.
In terms of regional performance, Latin America showed remarkable growth with total revenues of €131 million, representing 17.2% organic growth. In contrast, Continental Europe faced challenges, with revenues slightly declining to €121 million, reflecting ongoing macroeconomic pressures.
Aurélien Sonet, Chief Executive Officer of Pluxee, expressed satisfaction with the quarter’s performance, stating, “Quarter after quarter, we continue to execute with discipline. I am proud to report that we have delivered a robust start to Fiscal 2026.” He emphasized the importance of the company’s M&A activities, including recent acquisitions of Skipr and ProEves, which position Pluxee for enhanced growth in Belgium, France, and India.
Strategic Acquisitions and Future Outlook
The acquisitions of Skipr, a provider of employee mobility benefits in Belgium and France, and ProEves, a leader in corporate childcare in India, are expected to enrich Pluxee’s multi-benefit offerings and strengthen its market leadership. Both transactions were funded through existing cash resources and did not impact the company’s leverage.
Looking ahead, Pluxee remains optimistic about its financial trajectory, reaffirming its objectives for Fiscal 2026. The company anticipates stable total revenues and slight organic growth in recurring EBITDA margins, aiming for an average recurring cash conversion rate of around 80% over the fiscal period.
Pluxee plans to hold a conference call for investors on January 7, 2026, to discuss the Q1 Fiscal 2026 results. The call will be accessible in multiple regions, including France, the UK, and the U.S.
As Pluxee navigates a dynamic market landscape, it aims to leverage its strengths and adapt to evolving conditions, ensuring sustained operational and financial performance in the long term. The company has established itself as a significant player in the Employee Benefits and Engagement sector, operating in 28 countries and serving over 500,000 clients.
