Pluxee H1 EBITDA Rises 12.9%, Brazil Drag

Pluxee reported H1 recurring EBITDA of €242 million, up 12.9% YoY, with margin expanding to 37% (up 1.6 pp).
Total revenue reached €655 million, rising 5.6% organically, while currency translation drag of 3.6% from Türkiye limited growth.
Net profit climbed 9.3% to €116 million; recurring free cash flow rose 22.5% to €210 million, cash conversion improving to 86%.
Company warned Brazil regulatory changes will weigh on H2 2026, extending impact into H1 2027, but reaffirmed FY2026 revenue and margin targets.