(Reuters) -Pluxee, the former employee benefits division of Sodexo, raised its outlook for fiscal years 2025 and 2026 on Thursday, citing “strong” financial performance in 2024 and expressing confidence in the company’s structural growth trends. walk.
The stock gained 3.63% to 16.40 euros at 09:49 GMT.
The group, listed on the stock market in February 2024, says it expects an increase in the recurring Ebitda margin of 75 basis points in 2025 and 2026, allowing the achievement of the initial objective of an organic increase of 250 basis points over 3 years one year ahead.
Pluxee also says it expects a recurring cash conversion rate above 75% on average over the years 2024 to 2026, compared to more than 70% previously.
“At the start of the 2025 financial year, I am convinced that Pluxee is well positioned to achieve its objectives by continuing to generate sustainable double-digit growth, further margin improvements and strong cash generation,” said Aurélien Sonet, CEO of Pluxee, in a press release.
The number of contracts signed in 2024 reached a record of 1.6 billion euros, also reported the general director of Pluxee, Aurélien Sonet, during a conference call with journalists.
“This highlights both the commercial momentum and the dynamism of our commercial engine,” he said.
Aurélien Sonet also clarified that a possible modification of the regulatory framework in Italy aimed at capping commissions on meal vouchers at 5% would not have an impact on Pluxee’s medium-term forecasts.
“This is a consistent and reassuring publication on cash generation and outlook, as regulatory changes in Italy are not significant for the group,” wrote ODDO BHF analysts in a note, recalling that the stock has fallen sharply in recent months after a disappointing third quarter and concerns about regulatory risk in the sector.
The company published an Ebitda margin of 35.6% for fiscal year 2024, slightly higher than the 35.3% expected according to the consensus provided by the group.
(Writing by Diana Mandiá, with contributions from Mathias de Rozario, edited by Augustin Turpin and Kate Entringer)
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