Fiscal Q1 2025 Revenues

Core Insights - The company reported a strong start to Fiscal Q1 2025, achieving total revenues of 289 million euros, representing a 13.2% organic growth year-on-year, driven by robust performance in Employee Benefits and Float revenue [2][9][6] Financial Performance - Operating revenue reached 249 million euros, with a 12.1% organic growth compared to the previous year, primarily fueled by Employee Benefits which saw a 14.9% organic growth [10][12] - Float revenue amounted to 40 million euros, reflecting a 20.9% organic growth year-on-year, supported by an increasing Float base and improved average investment yield [11][6] - Total business volumes issued in the first quarter reached 6.5 billion euros, up from 6.1 billion euros in the same period last year [5] Regional Performance - Continental Europe generated operating revenue of 105 million euros, showing a 9.7% organic growth, while Latin America reported 98 million euros with an 11.1% organic growth [15][16] - The Rest of the World segment achieved 46 million euros in operating revenue, reflecting a significant 20.0% organic growth, driven by increased adoption of Pluxee solutions [17] Business Segments - Employee Benefits accounted for 212 million euros in operating revenue, with a 14.9% organic growth, indicating strong commercial dynamics and client retention [12][33] - Other products and services generated 37 million euros, experiencing a slight decline of 2.6% organically, impacted by a contract discontinuation in Chile [13][31] M&A and Strategic Initiatives - The company is actively pursuing M&A opportunities, including the acquisition of Benefício Fácil, a leader in employee mobility benefits in Brazil, expected to enhance organic growth [20][19] - The partnership with Santander in Brazil is progressing well, with approximately 90% of business volume migration completed, contributing to significant new client wins [21][19] Outlook - The company reaffirms its financial objectives for Fiscal 2025 and 2026, targeting low double-digit organic revenue growth and further expansion of the Recurring EBITDA margin [24][27]