Pluxee N.v. · EURONEXT:PLX

Pluxee — FY2024 Earnings Presentation

55 slides from Pluxee's earnings presentation, Oct 31, 2024

Slide 3: Presentation agenda
Presentation agenda 01 02 03 04 05 Highlights Delivery on Financial Outlook Appendices & key figures strategic roadmap performance Fiscal 2025 Fiscal 2024 Fiscal 2024 Fiscal 2024 and 2026 CONFIDENTIAL ©Pluxee – All rights reserved 03
Slide 5: A year rich in milestones with successful delivery across all dimensions
A year rich in milestones with successful delivery across all dimensions Sep. 2023 – Feb. – Mar April June July Fiscal Jan. 2024 2024 2024 2024 2024 2024 Pluxee Listing of Pluxee First successful Completion of the Objective Exceeding rebranding on Euronext Paris H1 results released strategic upgrade
Slide 6: Fiscal 2024 performance exceeding financial objectives
Fiscal 2024 performance exceeding financial objectives Total revenues Recurring EBITDA Recurring Free cash flow €1,210m €430m €379m +18.6% organic growth +24.8% organic growth 88% Recurring Cash -3.9% currency impact 36.4% Recurring EBITDA conversion rate(2) margin on an organic basis(1) Fiscal 2024
Slide 7: Enhanced shareholder dividend distribution
Enhanced shareholder dividend distribution Net Profit Adjusted Net Profit(1) Proposed dividend attributable to equity holders attributable to equity holders per share(2) of the parent of the parent €133m €203m €0.35 +64.2% variation €1.39 Adjusted Basic 25% Dividend payout ratio vs. Fiscal 2023 Earn
Slide 8: Upgraded Fiscal 2025 and 2026 financial objectives
Upgraded Fiscal 2025 and 2026 financial objectives Initial objectives Fiscal 2024 Upgraded Fiscal 2025 and 2026 at CMD achievements financial objectives Low double-digit confirmed per year Organic revenue Low double-digit +18.6% based on a higher Fiscal 2024 revenue base growth per year Including ex
Slide 10: Compelling growth opportunity in Employee Benefits & Engagement
Compelling growth opportunity in Employee Benefits & Engagement > €1,000bn (1) Total addressable Employee Benefits and Engagement market • Sizeable addressable market with significant potential for increased market penetration, particularly in the SME segment Meal & Food (20-30%) Gift & Rewards (10-
Slide 11: Ambitious strategic roadmap driven by six key initiatives
Ambitious strategic roadmap driven by six key initiatives 1 Elevate benefit offering Address evolving client and consumer needs 2 Expand merchant engagement Reinforce win-win partnership Scale up existing presence 3 Address untapped opportunities in Engagement and Reward & Recognition Acquire new cl
Slide 12: Continue to deliver successfully
Reminder | Fiscal 2024 achievements Medium-term business targets Strong development €1.6bn €1.3bn+ annually momentum Fiscal 2024-2026 Development among new clients well above target in annualized business volume issued Continue to deliver Proven capacity to realize full Above 103% Above 100% success
Slide 13: Elevate Pluxee's best-in-class benefit offering
Elevate Pluxee’s best-in-class strategic initiatives enablers benefit offering Accelerated deployment Continuous development 16 Countries in multi-benefit approach of the payment platform with integrated multi-benefit offer • 250+ solutions delivered through45 • Growing range of payment features glo
Slide 14: Expand merchant engagement through win-win partnership
Expand merchant engagement strategic initiatives enablers through win-win partnership Continuous expansion Delivering strong value of merchant network proposition to merchants • Unique and growing ecosystem • Increasing traffic with Employee of more than 1.7 million affiliated benefits business volu
Slide 15: Strong development momentum in Fiscal 2024
Strong development strategic initiatives enablers momentum in Fiscal 2024 Strong development trend Accelerated penetration of across regions small & medium enterprises • High-performing segmented sales and • Streamlined offering and dedicated €1.6bn Development among digital marketing strategy digit
Slide 16: Enhanced focus on driving up net client retention
Enhanced focus on driving up strategic initiatives enablers net client retention Realize the full potential Steady contribution of current client portfolio from face value increase 103%+ Net retention rate • +40 bps client retention vs. Fiscal 2023 • €1.3bn additional business volume in business vol
Slide 17: Drive profitability
Drive profitability strategic initiatives enablers Strong EBITDA margin improvement absorbing new standalone costs as a result of the Spin-off 1 Float revenue 2 Operating leverage & efficiency 3 Portfolio rationalization +183bps Recurring EBITDA margin improvement in Fiscal 2024(1) Strong contributi
Slide 18: Attracting, developing, and retaining talent
strategic initiatives enablers Attracting skilled • Further investment in employees with c. 1,200 new talent recruited and diverse in Fiscal 2024 talent • Strengthening critical functions such as Sales & Marketing (34%) and Tech & data (21%) 5,415 Headcount in Fiscal 2024 • Ensuring people have or a
Slide 19: Leverage technology and innovation
strategic initiatives enablers • Drive growth Focused tech Development of advanced digital investment products and agile time-to-market strategy • Boost operational efficiency Global scale, automation and cost disciplined delivery • Act as a trusted partner Cybersecurity and Sustainability • ROI-dri
Slide 20: Successful steps toward the strategic initiatives
strategic initiatives enablers Rapid deployment • More than 50% of business volumes from Ben’s clients, including Santander, migrated of partnership • 4,000 Santander sales managers trained on Pluxee in Brazil since the offering and targets closing in June 2024 • First new client wins and contract r
Slide 21: A year of continued progress on Pluxee's ESG journey
A year of continued progress on Pluxee's ESG journey Be a trusted partner Toward individuals Anchor business integrity and transparency Improve people’s well-being and promote while protecting data of all stakeholders inclusion to contribute to engagement Employees trained in Responsible Women Busin
Slide 23: Employee Benefits boosting business volumes growth
Employee Benefits boosting • Sustained double-digit growth in Employee benefits business volumes growth business volumes in Fiscal 2024 incl. Q4 +€1.5bn in Employee Benefits business volume, fuelled by strong commercial dynamics across all regions Business volumes issued Quarterly evolution of Emplo
Slide 24: Strong business momentum in Employee Benefits
Strong business momentum • Strong business trend in Employee Benefits driving Employee Benefits business volumes • Positive impact of net Business volumes issued in Employee Benefits retention driven by enhanced client loyalty, significant further increase Increase in BVI in Fiscal 2024: +€1.5bn in
Slide 25: +18.6% Organic revenue growth driven by all regions
+18.6% Organic revenue growth driven by all regions • Sustained performance reflecting strong business dynamics across regions €1,210m All regions €534m Cont. Europe 100% 44% • Double-digit Organic 12 months +18.6% 12 months +14.5% revenue growth 4th quarter +10.6% 4th quarter +12.1% delivered acros
Slide 26: Outstanding level of Organic revenue growth in Fiscal 2024
Outstanding level of Organic revenue growth in Fiscal 2024 Total revenues by nature • Fiscal 2024 Organic Organic growth: +10.6% Organic growth: +18.6% revenue growth Currency effect: -6.1% Currency effect: -3.9% significantly above initial low double-digit Float revenue €1,210m Operating revenue €1
Slide 27: Sustained growth dynamics in Operating Revenue
Sustained growth dynamics • +16.7% Organic revenue growth in Employee in Operating Revenue Benefits Substantial growth momentum driven by strong commercial dynamics and gradual increase in take-up rate Operating revenue evolution by lines of activities Employee Benefit average take-up rate +22 bps O
Slide 28: Remarkable contribution of Float revenue
Remarkable contribution of Float revenue CAGR:+9.1% • Continuous expansion Balance of the Float in all regions sheet Float €2.8bn (period-end) €2.3bn €2.6bn Strong positive momentum in business volumes, driving the increase in Float End of Aug,22 End of Aug,23 End of Aug,24 Average investment +X% Yo
Slide 29: Strong increase in Recurring EBITDA
Strong increase in Recurring EBITDA • Recurring EBITDA growing +24.8% organically while absorbing new standalone costs Recurring EBITDA and Recurring EBITDA margin ramping up +183bps organic improvement +24.8% organic growth +183bps organically in Recurring EBITDA margin +18.5% total growth +105bps
Slide 30: €92m Other operating income and expenses
€92m Other operating income and expenses • Other Operating Expenses related to the spin-off in this transitional year Other Operating Expenses: €98m Total Other Operating Expenses amounted to €98m primarily Others (1) related to: Business combination €5m • €62m from Spin-off, including related costs
Slide 31: Net profit reaching €139m
Net profit reaching €139m • Financial income and expenses reflecting the Group’s new capital Fiscal Fiscal Total structure including 2024 2023 Growth (%) mainly: Total revenues €1,210m €1,052m +15.0% • Controlled increase in gross borrowing costs Operating expenses €(780)m €(689)m +350 bps related t
Slide 32: 88% cash conversion surpassing the objective
88% cash conversion • Strong growth in surpassing the objective Recurring EBITDA flowing through to Recurring free cash flow Fiscal 2024 Fiscal 2023 • Continued investment Recurring EBITDA €430m €363m especially in technology Capital expenditures €(116)m €(116)m and data, paving the way for future g
Slide 33: Increased Net financial cash position of €1,054m
Increased Net financial cash position of €1,054m • Net financial cash Net financial cash position bridge position stood at €1,054m as of Aug. 31, 2024 €131m(1) €379m Strong improvement in €1,054m Fiscal 2024 (+€195m ) €(67)m mainly reflecting solid cash €(190)m flow generation, and to a €859m €(59)(
Slide 34: Secured capital structure and financial profile
Secured capital structure and financial profile • Solid balance sheet as of August 31, 2024 • Mix in ‘Cash and cash Net cash position as of August 31, 2024 equivalents’ and ‘Current financial assets’ reflecting the Total Liquidity Position: €3,208m diversification of the investment strategy €973m Re
Slide 35: Clear capital allocation framework
Clear capital allocation Targeted and financially disciplined approach framework to growth strategy 1 2 3 Continue to invest Targeted and Attractive for growth well-executed M&A shareholders’ return • Average annual capital • Focus on adding business volume, • €0.35 proposed dividend per expenditure
Slide 37: Upgraded Fiscal 2025 and 2026 financial objectives
Upgraded Fiscal 2025 and 2026 financial objectives Initial objectives Fiscal 2024 Upgraded Fiscal 2025 and 2026 at CMD achievements financial objectives Low double-digit confirmed per year Organic revenue Low double-digit +18.6% based on a higher Fiscal 2024 revenue base growth per year Including ex
Slide 39: Appendix #1.1 Breakdown of Total revenues by nature
Appendix #1.1 Breakdown of Total revenues by nature Revenues by nature Fiscal Q1 Fiscal Q2 Fiscal Q3 Fiscal Q4 Fiscal Year (in millions euros) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Operating Revenue 231 208 287 240 257 235 281 270 1,055 953 Organic Growth (in %) 14.5% 19.9% 11.4% 8.1% 13
Slide 40: Appendix #1.2 Breakdown of Total Revenues by line of services
Appendix #1.2 Breakdown of Total Revenues by line of services Revenues by line of service Fiscal Q1 Fiscal Q2 Fiscal Q3 Fiscal Q4 Fiscal Year (in millions euros) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Employee Benefits 224 183 274 217 257 219 278 255 1,033 873 Organic Growth (in %) 27.1%
Slide 41: Appendix #1.3 Breakdown of Total Revenues by region
Appendix #1.3 Breakdown of Total Revenues by region Revenues by regions Fiscal Q1 Fiscal Q2 Fiscal Q3 Fiscal Q4 Fiscal Year (in millions euros) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Continental Europe 108 95 155 126 123 114 147 131 534 466 Organic Growth (in %) 13.5% 23.3% 8.1% 12.1% 14.
Slide 42: Appendix #2.1 Breakdown of Operating revenue by line of services
Appendix #2.1 Breakdown of Operating revenue by line of services Revenues by line of service Fiscal Q1 Fiscal Q2 Fiscal Q3 Fiscal Q4 Fiscal Year (in millions euros) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Employee Benefits 193 167 238 197 220 196 242 225 892 786 Organic Growth (in %) 19.2%
Slide 43: Appendix #2.2 Breakdown of Operating revenue by region
Appendix #2.2 Breakdown of Operating revenue by region Revenues by regions Fiscal Q1 Fiscal Q2 Fiscal Q3 Fiscal Q4 Fiscal Year (in millions euros) 2024 2023 2024 2023 2024 2023 2024 2023 2024 2023 Continental Europe 94 88 139 116 108 102 131 117 472 423 Organic Growth (in %) 6.5% 19.5% 5.3% 12.7% 11
Slide 44: Appendix #3 Recurring EBITDA margin bridge
Appendix #3 Recurring EBITDA margin bridge Recurring EBITDA margin achievements and objectives More than +250bps margin expansion by Fiscal 2025(1) Delivering the initial 3-year target of +250 bps(1) -79 bps +75 bps FX effects at least organic increase +183 bps one year ahead of plan 36.4% 36.4% 35.
Slide 45: Appendix #4 Fiscal 2024 exchange rates
Appendix #4 Fiscal 2024 exchange rates Closing rate Average Closing rate Average as of August rate for as of August rate for 31, 2024 Fiscal 2024 31, 2023 Fiscal 2023 Brazilian real (BRL) 6.216 5.534 5.308 5.403 Pound sterling (GBP) 0.841 0.857 0.857 0.871 Mexican peso (MXN) 21.758 18.905 18.187 19.
Slide 46: Appendix #5 Number of shares as of August 31, 2024
Appendix #5 Number of shares as of August 31, 2024 Company’s share February 29, August 31, capital 2024 2024 Group’s share capital 147,174,692 147,174,692 in number of shares Treasury shares 68,327 1,258,683 Number of shares for EPS calculation 146,890,457 146,517,613 (Basic weighted average number
Slide 47: Appendix #6 Key business & financial terms
Appendix #6 Key business & financial terms CLIENT COMMISSIONS PORTFOLIO GROWTH DEVELOPMENT Commissions billed to clients on business Increase in the number of employees and Annualized business volumes issued from volume issued, when cards, digitally consumers from an existing client for a the new Em
Slide 48: Appendix #7.1 Key Alternative Performance Measures (APM)
Appendix #7.1 Key Alternative Performance Measures (APM) ORGANIC REVENUE GROWTH RECURRING EBITDA ADJUSTED NET PROFIT Organic revenue growth is calculated Recurring EBITDA is used to assess Adjusted net profit serves as the as growth in the current period, calculated the performance of reported opera
Slide 49: Appendix #7.2 Key Alternative Performance Measures (APM)
Appendix #7.2 Key Alternative Performance Measures (APM) RECURRING FREE CASH FLOW RECURRING LIQUIDITY GENERATED FLOAT-RELATED CASH BY OPERATIONS (LGO) The Recurring free cash flow measures the Float-related cash corresponds to net cash generated from operations that is Recurring Liquidity Generated
Slide 50: Fiscal 2024 and 2025 upcoming financial calendar
Fiscal 2024 and 2025 upcoming financial calendar December 18 January 8 April 17 July 3 October 30 2024 2025 2025 2025 2025 Fiscal 2024 annual First quarter Fiscal First half Fiscal Third quarter Fiscal Annual Fiscal shareholders’ meeting 2025 revenues 2025 results 2024 revenues 2025 results Expected
Slide 51: Upcoming Senior Management investor meetings
Upcoming Senior Management investor meetings November November 19 November 21 January 9 2024 2024 2024 2025 Investor roadshows Exane Midcap Morgan Stanley Oddo BHF Europe and US CEO Conference European Technology, Forum Paris Media & Telecom Lyon Barcelona CONFIDENTIAL ©Pluxee – All rights reserved
Slide 52: About Pluxee
€24 bn Business volume issued About Pluxee as of Fiscal 2024 5,415 Employees as at August 31, 2024 Pluxee is a global leader in Employee Benefits and Engagement that operates in 29 countries. 29(1) Pluxee shapes the world of employee Powered by leading technology and more Countries benefits and enga
Slide 53: 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 54: 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

Pluxee — FY2024 Earnings Presentation on 6ix

Pluxee — FY2024 Earnings Presentation

Slide 1: Fiscal 2024 Results

Slide 2: Speakers

Slide 3: Presentation agenda

Slide 4: Highlights & key figures

Slide 5: A year rich in milestones with successful delivery across all dimensions

Slide 6: Fiscal 2024 performance exceeding financial objectives

Slide 7: Enhanced shareholder dividend distribution

Slide 8: Upgraded Fiscal 2025 and 2026 financial objectives

Slide 9: Delivery on strategic roadmap

Slide 10: Compelling growth opportunity in Employee Benefits & Engagement

Slide 11: Ambitious strategic roadmap driven by six key initiatives

Slide 12: Continue to deliver successfully

Slide 13: Elevate Pluxee's best-in-class benefit offering

Slide 14: Expand merchant engagement through win-win partnership

Slide 15: Strong development momentum in Fiscal 2024

Slide 16: Enhanced focus on driving up net client retention

Slide 17: Drive profitability

Slide 18: Attracting, developing, and retaining talent

Slide 19: Leverage technology and innovation

Slide 20: Successful steps toward the strategic initiatives

Slide 21: A year of continued progress on Pluxee's ESG journey

Slide 22: Financial performance

Slide 23: Employee Benefits boosting business volumes growth

Slide 24: Strong business momentum in Employee Benefits

Slide 25: +18.6% Organic revenue growth driven by all regions

Slide 26: Outstanding level of Organic revenue growth in Fiscal 2024

Slide 27: Sustained growth dynamics in Operating Revenue

Slide 28: Remarkable contribution of Float revenue

Slide 29: Strong increase in Recurring EBITDA

Slide 30: €92m Other operating income and expenses

Slide 31: Net profit reaching €139m

Slide 32: 88% cash conversion surpassing the objective

Slide 33: Increased Net financial cash position of €1,054m

Slide 34: Secured capital structure and financial profile

Slide 35: Clear capital allocation framework

Slide 36: Outlook

Slide 37: Upgraded Fiscal 2025 and 2026 financial objectives

Slide 38: Appendices

Slide 39: Appendix #1.1 Breakdown of Total revenues by nature

Slide 40: Appendix #1.2 Breakdown of Total Revenues by line of services

Slide 41: Appendix #1.3 Breakdown of Total Revenues by region

Slide 42: Appendix #2.1 Breakdown of Operating revenue by line of services

Slide 43: Appendix #2.2 Breakdown of Operating revenue by region

Slide 44: Appendix #3 Recurring EBITDA margin bridge

Slide 45: Appendix #4 Fiscal 2024 exchange rates

Slide 46: Appendix #5 Number of shares as of August 31, 2024

Slide 47: Appendix #6 Key business & financial terms

Slide 48: Appendix #7.1 Key Alternative Performance Measures (APM)

Slide 49: Appendix #7.2 Key Alternative Performance Measures (APM)

Slide 50: Fiscal 2024 and 2025 upcoming financial calendar

Slide 51: Upcoming Senior Management investor meetings

Slide 52: About Pluxee

Slide 53: IR, Communication and Press contacts

Slide 54: Forward-looking statements

Slide 55: CONFIDENTIAL ©Pluxee – All rights reserved