Pluxee (PLX) AGM 2024 summary

Opening remarks and agenda

• The meeting was the first AGM since the company’s spin-off and listing, with thanks extended to shareholders and key stakeholders for their support.

• Executive Chair Didier Michaud-Daniel opened the meeting, with the agenda presented by Chief Legal Officer Béatrice Bihr.

• The agenda included presentations on fiscal 2024 highlights, financial performance, audit report, remuneration, dividend policy, Q&A, and voting on key resolutions.

Financial performance review

• Fiscal 2024 saw total revenue reach €1.210 billion, up 18.6% organically, with employee benefits revenue growing 22.5%.

• Recurring EBITDA rose to €430 million, a 24.8% organic increase, with a margin of 35.6%.

• Net profit attributable to equity holders was €133 million, up 64% from the prior year, and adjusted net profit reached €203 million (+64.2% vs. 2023).

• Recurring free cash flow reached €379 million, with an 88% cash conversion rate.

• Net financial cash position improved to €1.054 billion, with total liquidity at €3.208 billion and an investment grade BBB+ rating.

Board and executive committee updates

• The board comprises four Bellon family members and five independent directors, with 50% independence and 40% female representation.

• Board chaired by Didier Michaud-Daniel, with committees for audit and nomination/remuneration.

• Board members bring expertise in management, sustainability, finance, technology, and HR.

• Board committees had nearly 100% attendance, reflecting strong engagement and adherence to Dutch Corporate Governance Code best practices.

• Executive Committee strengthened and geographic governance enhanced during the year.