Sodexo Spinoff Pluxee Hits $4.5 Bln Valuation in Trading Debut

By Nina Kienle

Employee-benefits company Pluxee was valued at around 4.19 billion euros ($4.54 billion) in its trading debut on Euronext Paris after it was spun off from Sodexo.
At 0845 GMT, Pluxee shares traded at EUR29.12, above the EUR28.50 they hit at the opening bell and the reference price of EUR26.00 set ahead of trading start. Sodexo shares fell 0.8% to EUR77.94.

Paris-based Pluxee generated EUR363 million in revenue for the fiscal year ended in August and employs more than 5,000 people. The company is controlled by the Bellon family with 42.8% of its shares and 60% of the voting rights. The family also controls Sodexo, which was founded by Pierre Bellon.
In its current year, Pluxee expects to deliver low double-digit growth in organic revenue and a recurring earnings before interest, taxes, depreciation, and amortization margin at least in line with the 34.5% it reported for fiscal 2023.
By fiscal 2026, Pluxee aims to deliver annual organic revenue growth in the low double-digit range and a recurring Ebitda margin of about 37%.
Write to Nina Kienle at nina.kienle@wsj.com