Pluxee N.v. · EURONEXT:PLX
Pluxee — Q3 2024 Earnings Presentation
31 slides from Pluxee's earnings presentation, Jul 3, 2024
Slide 1: Fiscal Q3 2024 Revenues
Fiscal Q3 2024 Revenues July 3, 2024 CONFIDENTIAL ©Pluxee – All rights reserved 01
Slide 2: Speaker Presentation
Speaker Presentation Stephane Lhopiteau Chief Financial Officer CONFIDENTIAL ©Pluxee – All rights reserved 02
Slide 3: Presentation Summary
Presentation Summary 01 02 03 04 05 Highlights Financial M&A strategy Outlook Appendices & Key figures performance execution Fiscal 2024 Fiscal Q3 & first 9 Fiscal Q3 & first and 2026 months 2024 9 months 2024 CONFIDENTIAL ©Pluxee – All rights reserved 03
Slide 4: Highlights & Key figures
01 Highlights & Key figures Financial performance M&A strategy execution Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 4
Slide 5: Further quarter of strong growth
Continued business momentum across all indicators Fuelled by sustained market trends and disciplined execution Double-digit organic growth delivered Reflecting growth in both Operating and Float revenue Robust operating Employee Benefits organic growth Despite tougher comparison basis First key mile
Slide 6: Solid revenue growth trend confirmed in Q3 Fiscal 2024
Solid revenue growth trend confirmed in Q3 Fiscal 2024 Total Revenue Total Revenue SOLID GROWTH IN Q3 DESPITE HIGHER Q3 Fiscal 2024 First 9 months Fiscal 2024 COMPARISON BASIS AND NEGATIVE CURRENCY EFFECTS €297m €889m Strong business momentum maintained in Employee Benefits delivering +22.7% organic
Slide 7: Continuous positive business momentum over the first nine months
Continuous positive business momentum over the first nine months New client wins Net retention Additional increase in Average Face Value incl. in Net Retention > €1.2bn 103% + c.€1.0bn Year-to-date development in annualized Year-to-date net retention rate in business Year-to-date incremental busines
Slide 8: Financial performance
Highlights & Key figures 02 Financial performance M&A strategy execution Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 8
Slide 9: Employee Benefits driving business volumes growth
Employee Benefits driving business volumes growth SUSTAINED DOUBLE DIGIT GROWTH IN EMPLOYEE BENEFITS BUSINESS VOLUMES +€1.5bn generated Business volumes issued in Employee Benefits business volumes at constant rates over the first 9 months, fuelled by higher net retention €18.3bn and robust business
Slide 10: Strong organic revenue growth across all regions
Strong organic revenue growth across all regions €889m 9 months Fiscal 2024 Total Revenues ALL REGIONS CONT. EUROPE 9 months 3rd quarter 9 months 3rd quarter €387m +22% +18% +15% +8% 43% Continental Europe €343m 39% Latin America LATIN AMERICA REST OF THE WORLD 9 months 3rd quarter 9 months 3rd quar
Slide 11: +18% robust organic revenues growth in Q3 Fiscal 2024
+18% robust organic revenues growth in Q3 Fiscal 2024 OPERATING REVENUE GROWTH SOFTENING IN Q3 AS EXPECTED Total Revenues evolution by nature +11.4% organic operating revenue growth delivered reflecting strong business trajectory despite high comparison basis Organic growth: +18% Organic growth: +22
Slide 12: Operating growth driven by Employee Benefits
Operating growth driven by Employee Benefits +15% ORGANIC GROWTH IN EMPLOYEE BENEFITS IN Q3 Operating revenue evolution by lines of activities Robust increase in average face value coupled with strong development, supported by elevated take-up rate Organic growth: +11% Organic growth: +15% Currency
Slide 13: Continued substantial contribution from Float revenue
Continued substantial contribution from Float revenue SUSTAINED FAVORABLE BUSINESS TREND FUELING Float revenue evolution FLOAT REVENUE Float expanding year-on-year as a result of the strong dynamic in business volumes Organic growth: +76% Organic growth: +89% issued Currency effect: -19% Currency ef
Slide 14: M&A strategy execution
Highlights & Key figures Financial performance 03 M&A strategy execution Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 14
Slide 15: First key M&A milestones: Acquisition of Cobee
Signed Acquisition of Cobee agreement – 100% acquisition of a fast-growing digital-native player with broad multi-benefit offering and best- +12 in-class technology Benefit products First key – Pluxee’s leadership position to be strongly reinforced in the Spanish market 1,500+ M&A – Group existing b
Slide 16: First key M&A milestones: Santander partnership
Transaction Strategic partnership closed with Santander – 25-year exclusive distribution agreement with one of the largest private banks in Brazil 1.4m Santander – Pluxee’s leadership position expanded in Meal B2B clients First key & Food benefits in Brazil including an acceleration in SME penetrati
Slide 17: Outlook
Highlights & Key figures Financial performance M&A strategy execution 04 Outlook Appendices CONFIDENTIAL ©Pluxee – All rights reserved 17
Slide 18: Fiscal 2024 Organic revenue growth objective upgraded
Fiscal 2024 Organic revenue growth objective upgraded Fiscal 2024 Mid-term Fiscal 2026 objectives objectives Organic Low double digit revenue circa +18% growth from 15% to 17% per year Recurring At least 35% c.37% EBITDA margin including standalone costs for Fiscal 2026 Recurring Cash Above 70% on a
Slide 19: Delivering on mid-term strategic and financial objectives
Disciplined execution on strategic initiatives enhanced by well oriented micro and macro market trends Building a track-record of sustained growth driven by compelling value proposition and product innovation Delivering on Leveraging business volume growth mid-term fuelling both Operating and Float
Slide 20: Appendices
Highlights & Key figures Financial performance M&A update Outlook 05 Appendices CONFIDENTIAL ©Pluxee – All rights reserved 20
Slide 21: Appendix #1 Modelling details for Fiscal 2024
Scope change effect on revenues n.s. Other Operating Income €(90) to €(100)m & Expenses vs. €80 million as of end of H1 Fiscal 2024 Appendix #1 Net financial expenses ~€(15)m Modelling Stable vs. end of H1 Fiscal 2024 details for Fiscal 2024 Effective tax rate ~40% vs. 38% as of end of H1 Fiscal 202
Slide 22: Appendix #2 Fiscal Q3 2024 Revenue breakdown
Appendix #2 Fiscal Q3 2024 Revenue breakdown Unaudited revenues by reported operating segment Fiscal Fiscal Organic Growth Currency Effects Q3 2024 Q3 2023 (in % change) (in % change) (in million euros) Operating revenue 257 235 +11.4% -2.4% Float revenue 40 26 +75.9% -19.2% Total Revenues 297 261 +
Slide 23: Appendix #3 First 9 months Fiscal 2024 Revenue breakdown
Appendix #3 First 9 months Fiscal 2024 Revenue breakdown Unaudited revenues First 9 months First 9 months Organic Growth Currency Effects by reported operating segment Fiscal 2024 Fiscal 2023 (in % change) (in % change) (in million euros) Operating revenue 774 683 +15.4% -1.9% Float revenue 115 66 +
Slide 24: Appendix #4 First 9 months Fiscal 2024 exchange rates
Appendix #4 First 9 months Fiscal 2024 exchange rates Closing rate Average rate Closing rate Closing rate Average rate as of for 9 months as of as of for 9 months May 31, 2024 Fiscal 2024 Aug. 31, 2023 May 31, 2023 Fiscal 2023 Brazilian real 5.642 5.384 5.308 5.429 5.443 (BRL) Pound sterling 0.854 0
Slide 25: Appendix #5 Key business & financial definitions
Client commissions Business volume Development/New Commissions billed to issued client wins clients on business volume Cumulative value of Annualized business issued, when cards, digitally benefits issued by the volumes issued from the delivered services or paper Group on behalf of clients in new Em
Slide 26: Appendix #6 Key Alternative Performance Measures
Organic growth Recurring Float Increase in revenue for a operating profit Cash collected from clients given period compared to the (Recurring EBIT) in relation to the value revenue reported for the Operating profit before loaded on cards or the same period of the prior fiscal Other operating income
Slide 27: Appendix #7 Fiscal 2024 Financial calendar
Appendix #7 Fiscal 2024 Financial calendar July 3 October 31 December 18 2024 2024 2024 Third quarter Fiscal Annual Fiscal 2024 Fiscal 2024 annual 2024 Revenues Results shareholders’ meeting CONFIDENTIAL ©Pluxee – All rights reserved 27
Slide 28: About Pluxee
€22.8 bn About Pluxee Business volume issued as of Fiscal 2023 +5,000 Employees as at August 31, 2023 Pluxee is a global leader in employee benefits and engagement that operates in 31 countries. 31 Countries Pluxee is a global leader in employee Powered by best-in-class secured technology +500,000 b
Slide 29: IR, Communication and Press contacts
IR, Communication and Press contacts Head of investor relations Chief communication officer Pauline Bireaud Cécilia de Pierrebourg +33 (0)6 22 58 83 51 + 33 (0)6 03 30 46 98 pauline.bireaud@pluxeegroup.com cecilia.depierrebourg@pluxeegroup.com 16, rue du Passeur de Boulogne investors@pluxeegroup.com
Slide 30: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. These forward-looking statements reflect the Group's intentions, current beliefs, expectations and assumptions, including, without limitation, assumptions regarding the Group's future business strategies and the enviro
Slide 31: CONFIDENTIAL ©Pluxee – All rights reserved
CONFIDENTIAL ©Pluxee – All rights reserved 31