Pluxee reports FY2026 earnings above expectations, sees FY2027 transition

French employee benefits company Pluxee reported fiscal-year 2026 earnings above market expectations on Thursday, October 29, 2026, while cautioning that fiscal year 2027 will act as a transition year due to meal-voucher reforms in Brazil, Reuters reported.

Fiscal Year 2026 Financial Results and Market Performance

For the fiscal year ending August 31, 2026, Pluxee posted sales that came in broadly in line with expectations. Yahoo Finance reported that recurring earnings before interest, taxes, depreciation, and amortization reached €488 million, equivalent to approximately $491.13 million, beating the €474 million consensus forecast compiled by the company.

Recurring EBITDA increased by 3.8% organically and 3.7% on a reported basis, including a minor currency effect of -0.1%. The recurring EBITDA margin stood at 37.5%, expanding 101 basis points on an organic basis. Net profit for the year dropped to €191 million from €218 million in fiscal year 2025, temporarily pressured by an increase in other operating income and expenses despite growth in recurring EBITDA and net financial income.

Latin American Revenue Grows Despite Brazilian Regulatory Hurdles

Latin America remained a core profit engine and growth contributor for the group. Regional revenue reached €525 million for fiscal year 2026, constituting 40% of total group revenue compared with 38% the previous year.

That momentum faces an upcoming hurdle. Pluxee guided for at least €440 million of recurring EBITDA for fiscal year 2027, with the anticipated year-on-year decline reflecting an extended rebase scenario in Brazil triggered by the PAT meal-voucher reform and an uncertain macroeconomic environment.

Against this backdrop, we are acting decisively, Pluxee Chief Executive Officer Aurélien Sonet said in a statement reported by Reuters.

As anticipated, the reform had an adverse effect on the revenue and profitability of the Brazilian business starting from the second half of fiscal year 2026.

Dividend Payout and Strategic Priorities for 2027

Reflecting confidence in its structural cash generation, Pluxee’s board of directors proposed a dividend of €0.65 per ordinary share for fiscal year 2026. This marks a 71% year-on-year increase and raises the distribution ratio to 40% of adjusted net profit, up from a previous floor of at least 25%.

Chief Executive Officer Aurélien Sonet outlined that the group will focus on three organic levers starting in fiscal year 2027: capturing growth in priority markets and segments, driving efficiency through tighter cost control, and scaling up artificial intelligence across product, technology, and data ecosystems.