Pluxee Considers Legal Action Against New Brazilian Measures
Pluxee has responded to recent announcements by the Brazilian government regarding the Worker's Food Program, expressing concerns about the proposed changes.
According to Pluxee, the measures announced by the Brazilian government concerning the Worker's Food Program (PAT) significantly differ from previous discussions held with the professional association ABBT. The changes include modifications to the merchant commission rate, reimbursement timelines, and the handling of meal vouchers. These measures, set to become effective within 90 days, raise concerns about the program's viability, particularly in terms of misuse, non-compliance, and credit imbalances with public clients.
Potential Impact on Private Business Relationships
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Pluxee has expressed concern about the impact of these measures on private business relationships and the ability of issuers to remain innovative and competitive. The group indicates that it might undertake legal action, either alone or with the support of ABBT, to challenge these new provisions.
Financial Implications and Mitigation Plans
Pluxee plans, once the decree is published and after the transition period, to assess the potential financial implications of these measures. The group will conduct a thorough analysis and develop a mitigation plan before communicating its findings later.
SectorTickets restaurants›Services de traitement des transactions
Context
Period
Period: 1T 2026
Guidance from the release
Trimestre après trimestre, nous enregistrons un démarrage solide de l’exercice 2026, porté par la dynamique commerciale de l'activité Avantages aux salariés; nous avons poursuivi notre feuille de route stratégique avec les acquisitions de Skipr et ProEves et restons confiants dans notre capacité à délivrer des performances durables malgré un environnement réglementaire exigeant au Brésil.
Démarrage robuste au T1 2026 : chiffre d'affaires total de 308 M€ (+9,0 % organique), solide croissance en Amérique latine, effet de change négatif (notamment livre turque) et impact réglementaire potentiel au Brésil; exécution active de la stratégie M&A.
Risks mentioned
Évolutions réglementaires au Brésil pouvant impacter les résultats (impact anticipé H1 2027 si confirmées)
Effets de change défavorables (dépréciation de la livre turque, impact sur croissance publiée)
Fin ou redimensionnement des programmes d'aide publique en Europe continentale
Report de commande d'un large programme en Roumanie affectant le timing du volume d'affaires
Opportunities identified
Pipeline M&A solide et diversifié permettant d'accroître l'offre multi-avantages
Croissance soutenue en Amérique latine, en particulier au Brésil
Renforcement de l'offre via les acquisitions de Skipr (mobilité) et ProEves (garde d'enfants) pour pénétrer de nouveaux segments
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