Pluxee sees strong growth in Q3, upgrades Fiscal 2024 objective, and expands globally

From GlobeNewswire: 2024-07-03 11:45:00

Pluxee reported strong growth in Q3 with +17.9% organic revenue growth. Key highlights include +22.7% growth in Employee Benefits revenue. Pluxee upgraded Fiscal 2024 organic revenue growth objective to circa +18%. The acquisition of Cobee in Spain and strategic partnership with Santander in Brazil further fuel the company’s momentum.

Total business volumes issued reached €18.3 billion in the first nine months of Fiscal 2024, with +11.6% organic growth. Total revenues for Q3 2024 were €297 million, an increase of +17.9% organically. Operating revenue reached €257 million, growing +11.4%. Float revenue rose to €40 million, a +75.9% increase.

Pluxee continues to expand in regions such as Continental Europe, Latin America, and Rest of the world. Operating revenue by lines of services shows growth in Employee Benefits revenue at €220 million in Q3 2024. Other products & services generated €37 million in revenue during the same period.

The M&A strategy execution includes the acquisition of Cobee in Spain, expected to deliver +100% year-on-year organic growth in Fiscal 2024. Pluxee also completed a strategic partnership with Santander in Brazil, enhancing its market leadership. Both deals are expected to fuel growth and enhance Pluxee’s offerings in the respective regions.



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