Pluxee, the employee-benefits company being spun off from French food-and-catering giant Sodexo, has announced its short-term and midterm targets ahead of its planned listing on Feb. 1. The company aims to achieve revenue growth in the low double digits for fiscal years 2024 and 2026. It also plans to maintain a stable recurring earnings margin before interest, taxes, depreciation, and amortization for fiscal year 2024 and target a margin of around 37% for fiscal year 2026.
Furthermore, Pluxee is aiming for a cash conversion rate above 70% between fiscal years 2024 and 2026. The company plans to allocate approximately 10% of its revenue for capital expenditures, with a strong emphasis on technology. It also intends to implement a dividend policy of at least 25% of net profit starting from fiscal year 2024.
In its recent report for the first quarter of fiscal year 2024, Pluxee achieved revenue of €266 million ($290.8 million), reflecting significant growth compared to the same period in fiscal year 2023. The company experienced organic growth of 20%, while currency effects had a minimal impact of 1.8%.
Pluxee’s employee benefits business generated €224 million in revenue, up from €183 million in the previous year’s first quarter. Other products and services contributed €42 million to the total revenue, consistent with the prior-year quarter.
