Half Year 2026 Pluxee NV Earnings Call Transcript
Key Points
- Pluxee NV (PLXNF) reported strong revenue growth in H1 2026, with total revenues reaching EUR655 million, up 5.6% organically.
- The company's core Employee Benefits segment demonstrated high single-digit organic growth, particularly strong in Latin America with 11.5% growth.
- Recurring EBITDA margin expanded to 37%, up 229 basis points organically, showcasing strong profitability.
- Pluxee NV (PLXNF) achieved a record level of new client wins, generating EUR0.9 billion of new annualized business volume issued (BVI).
- The company maintained a robust cash conversion rate of 86%, reinforcing its strong financial position.
- The macroeconomic environment remains challenging, impacting end-user portfolios in some markets, particularly in Europe.
- Public Benefits segment faced temporary pressure due to contract cycles and order phasing, leading to a decline in business volume issued by 20.9% organically.
- The regulatory situation in Brazil poses uncertainties, with potential negative impacts on revenue and cost structure.
- Operating revenue in Continental Europe contracted by 0.7% organically, affected by macroeconomic challenges.
- The ongoing transformation in the UK and US markets is expected to weigh on revenue growth in H2 2026.
Good morning, everyone, and thank you for joining us today for our fiscal 2026 H1 results. So I'm Pauline, I'm Head of Investor Relations for Pluxee and I'm joined by Aurelien Sonet, our CEO; and Stephane Lhopiteau, our CFO.
Let me guide you through today's presentation agenda in the next slide. So Aurelien will start with the key highlights and figures for H1, followed by a focus on our commercial performance, and then Stephane will take you through our financial results. Finally, Aurelien will then conclude with our outlook, including an update on the regulatory situation in Brazil before we open the floor for the Q&A.
And with that, I will hand over to Aurelien.
Thank you, Pauline, and good morning, everyone. I'm pleased to be back with you today to present our first half fiscal 2026 results, starting with our key highlights. We are pleased to share that we delivered overall solid H1, which puts us
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