Pluxee earnings beat expectations, but fiscal 2027 profit decline looms. Posted on October 29, 2026 · Last updated: October 29, 2026 Pluxee beats 2026 earnings forecast but warns of Fiscal 2027 profit drop. Pluxee's financial performance and outlook. By Ronan Corcoran 2026 earnings exceed expectations. Oct 29 (Reuters) - French employee benefits company Pluxee on Thursday delivered earnings for the fiscal year 2026 above market expectations, but forecast a year-on-year profit decline due to meal-voucher reform in Brazil, sending its shares 13% lower. Pluxee's recurring earnings before interest, taxes, depreciation and amortization (EBITDA) came in at €488 million ($491.13 million) for the year ending on August 31, 2026, beating the forecast of €474 million seen in a company-compiled consensus. 2027 profit guidance and market reaction. For fiscal 2027, Pluxee expects recurring EBITDA of at least €440 million, implying a year-on-year decline as it absorbs the impact of Brazil's PAT reform. Company response to market conditions. "Against this backdrop, we are acting decisively," Pluxee Chief Executive Officer Aurélien Sonet said in a statement. Analyst and market commentary. Fiscal 2027 guidance fell short of expectations, J.P. Morgan said in a note, adding Pluxee did not guide on topline growth, despite typically doing so. Brazil's impact and strategic importance. Brazil, which continued to deliver double-digit growth in 2026, remains a priority market for the company, with sales representing around 30% of group revenue. Regulatory changes in Brazil. "The re-election of President Lula brings clarity and stability for the years ahead," Sonet told reporters as Pluxee navigates the full impact of regulatory changes in the country. Latin America revenue performance. Pluxee's fourth-quarter operating revenue fell 6.2% organically, less than feared by analysts, with a drop in Latin America of 12.1%. Annual sales overview. On a 12-month basis, the company's sales came in broadly in line with expectations. Dividend policy and shareholder returns. The group, which said 2027 would be a "transition year," said it intends to hike its dividend payout by about 70% to €0.65 for 2026, representing an increase in the distribution ratio to 40% from at least 25%. ($1 = 0.8959 euros) (Reporting by Ronan Corcoran, editing by Izabela Niemiec) Key takeaways. * Fiscal 2026 recurring EBITDA €488 million beat expectations (consensus €474 million), with margin expansion of about 100 bps (via.ritzau.dk) * Brazil's Workers' Food Program (PAT) reform - including fee caps, shorter reimbursements, open-loop interoperability - will dent performance in 2H FY26 and into FY27 (via.ritzau.dk) * Pluxee sees FY27 recurring EBITDA of >= €440 million and >= 50% cash conversion in a transition year, while proposing a 70% dividend hike to €0.65/share with a 40% payout ratio (new.streetinsider.com) References. Frequently asked questions. How did Pluxee perform financially in fiscal year 2026? How important is Brazil for Pluxee's revenue? What change did Pluxee announce regarding its dividend payout?

Pluxee beat all its Fiscal 2026 financial targets, reporting total revenues of €1,302 million, up 0.7% organically. Employee Benefit business volume issued rose 7.7% organically. Recurring EBITDA reached €488 million, with the margin up 101bps organically. Adjusted net profit, Group share, was €223 million, up 1.2%, and recurring free cash flow was €341 million. The company proposed a dividend of €0.65 per share and raised its payout ratio to 40%. It also completed a €100 million share buy-back in May 2026. Pluxee called Fiscal 2027 a transition year, as Brazil's Workers' Food Program reform weighs on results. It targets recurring EBITDA of at least €440 million and recurring cash conversion of at least 50%, then a return to profitable growth over the medium term.

Pluxee reported third-quarter fiscal 2026 results in line with expectations and confirmed its financial objectives. Total revenues reached €967 million for the first nine months, with €312 million in Q3, reflecting organic growth despite regulatory changes in Brazil and macroeconomic challenges in Continental Europe. Operating revenue totalled €843 million over nine months, including €270 million in Q3, whilst float revenue reached €124 million, driven by positive volume and investment yield effects. Business volumes grew organically, supported by continuous new client wins and resilient net retention. CEO Aurélien Sonet highlighted the company's operational discipline amid challenging conditions, noting strong commercial performance driven by clients' focus on employee engagement and talent retention. In Brazil, Pluxee has implemented the required operational framework following regulatory changes and is rolling out efficiency measures whilst maintaining stakeholder engagement.