Pluxee tops Q1 revenue expectations thanks to client retention, new contracts By Reuters

By Mathias de Rozario and Jakob Van Calster

(Reuters) – French voucher and benefits company Pluxee posted 12.1% organic growth in its first-quarter operating revenue on Wednesday, beating market expectations, supported by sound customer retention and new client acquisitions in its Employee Benefits business.

The group’s operating revenue was 249 million euros ($257.8 million) in the three months through Nov. 30, beating analysts’ average forecast of 244 million euros in a company-provided consensus.

The double-digit organic growth was driven by a strong performance in Employee Benefits, Pluxee’s biggest unit that saw 10.4% growth in the period, CEO Aurélien Sonet said in a press release.

The France-based group continued to strengthen its presence in South America with the acquisition of Benefício Fácil, which provides commuter benefits in Brazil, to be completed during the second half of the fiscal 2025.

Latin America recorded 11.1% organic growth and accounted for nearly 40% of the group’s total operating revenue.

The region was however still impacted by the loss of a student benefits contract in Chile and a negative 14.5% currency impact mainly related to Brazil and Mexico.

The former benefits unit of Sodexo (EPA:) also confirmed its outlook for the 2025 financial year.

($1 = 0.9657 euros)