At an investor day, Sodexo announced the growth strategy and medium-term objectives of Pluxee, which is due to be listed on Euronext Paris on February 1, subject to approval by Sodexo's AGM on January 30 and market conditions.

The new company's strategic plan aims to "pursue profitable growth by strengthening its leadership in the food and meal voucher market and enriching its employee benefits and engagement solutions offering".

Posting organic sales growth of 20% for its first accounting quarter, it anticipates "double-digit" growth for fiscal 2024, with a recurring EBITDA margin "stable at a minimum, after taking into account head office costs".

For fiscal 2026, Pluxee is targeting double-digit organic sales growth, an improvement in the recurring EBITDA margin to around 37%, and an average free cash flow to EBITDA conversion rate of over 70%.

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