Why did Pluxee's shares, the little Edenred, fall after the release of its seemingly solid annual accounts?
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Indeed, Pluxee shares have fallen by more than 17% since the group specializing in employee benefits unveiled its results for the 2025/2026 financial year (ending at the end of August). Objectives exceeded... And yet, it exceeded its objectives well: organic growth reached +0.7% against expected stability, and the recurring EBITDA margin rose to 37.5%, an organic increase of 101 basis points while only a slight increase was anticipated. ...but visibility remains degraded But management was more than cautious for the new financial year, citing a year of transition, with a negative impact of regulatory changes in Brazil much stronger than expected (140 million euros on turnover and half on EBITDA).
In the latest development, the Brazilian justice system has just suspended, according to the local press, several major points of the federal decree which detrimentally modified the rules governing meal vouchers in particular. The new ceilings imposed would be blocked, as would the repayment deadlines. Good news for Pluxee, but which remains to be confirmed.
Until then, visibility remains very limited.
Machine-translated from French
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- Le Figaro10 Nov, 15:00
| Publisher Le Figaro (established tier) | +76 |
| Detailed summary | +2 |
| Total | 78 |
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