PLUXEE N.V.

Latest Results (26.02.2026):

PLUXEE N.V. — First Half Fiscal 2025 (covering Q1–Q2 FY2025): the Group delivered a strong semester with Total Revenues of €635m (+10.8% organic), Recurring EBITDA of €225m (+22.5% organic) and an upgraded FY25 profitability outlook; results show solid top-line growth, margin expansion and robust liquidity.

Headline results

PLUXEE N.V. reported Total Revenues of €635m, Recurring EBITDA €225m (Recurring EBITDA margin 36.4% at constant FY2024 rates; 35.4% reported), Adjusted Net Profit €107m and Net profit attributable to shareholders €97m for First Half Fiscal 2025.

Revenue mix & growth

Operating Revenue was €552m (+10.1% organic) and Float Revenue €83m (+16.2% organic). Employee Benefits accounted for €464m of Operating Revenue (c.84%), while Other Products and Services were €88m.

Regional performance

Total Revenues by region: Continental Europe €279m (+4.2% reported / +5.7% organic), Latin America €233m (+2.7% reported / +12.1% organic) and Rest of World €123m (+21.0% reported / +25.7% organic), with strong new client acquisition and improved take-up rates.

Margins & profitability drivers

Recurring EBITDA expanded materially (+22.5% organic) driven by operating leverage, Float revenue gains and efficiency measures; Other operating income/expenses were lower versus last year (one-off charges in FY2024) and the effective tax rate normalized to ~31% in H1.

Cash generation & balance sheet

Recurring free cash flow was €171m with a Recurring cash conversion of 76%; Net financial cash position stood at €1,045m (Feb 28, 2025). Cash and current financial assets totaled ~€2.27bn (excl. restricted float cash).

M&A and corporate actions

Pluxee closed the Cobee acquisition (Sept 25, 2024) with the first earn‑out paid in March 2025; the Benefício Fácil acquisition (Brazil) completed in March 2025 (subsequent event) and will be consolidated in H2 FY2025.

Dividend, funding & short‑term liquidity

The FY2024 dividend of €0.35/share (total €51m) was paid Dec 24, 2024. In March 2025 Pluxee launched a NEU CP program (up to €400m, S&P short‑term A‑2) to diversify short‑term funding sources.

Outlook

Based on H1 performance Pluxee upgraded its Fiscal 2025 Recurring EBITDA margin expansion target to +150bps (at FY2024 constant rates) and re‑confirmed its low double‑digit organic Total Revenues growth target and an average >75% Recurring cash conversion rate for FY2024–2026; Float revenue is expected to grow mid‑to‑high single digits in FY2025.