Elior: net loss widens in H1
(CercleFinance.com) - Elior group has reported a net loss of 266 million euros for H1 2021-22, over five times the loss of 53 million euros posted a year earlier, with adjusted EBITA from continuing operations of 16 million euros, compared with 25 million euros a year ago.
The catering and services group announced revenue of 2.24 billion euros for the period, up 18% organically, driven by 9.9% business development, and a stable three-month retention rate of 91.3%.
For FY 2021-22, Elior expects organic sales growth of at least 16%, with adjusted EBITA of around break-even (excluding the losses of Preferred Meals in the US, a business the group has decided to exit).
By 2024, Elior Group confirms that it is targeting average annual organic sales growth of at least 7% over the next two years, but expects an adjusted EBITA margin of only around 4% in 2023-24 (compared to the previous projection of around 4.6%).
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The catering and services group announced revenue of 2.24 billion euros for the period, up 18% organically, driven by 9.9% business development, and a stable three-month retention rate of 91.3%.
For FY 2021-22, Elior expects organic sales growth of at least 16%, with adjusted EBITA of around break-even (excluding the losses of Preferred Meals in the US, a business the group has decided to exit).
By 2024, Elior Group confirms that it is targeting average annual organic sales growth of at least 7% over the next two years, but expects an adjusted EBITA margin of only around 4% in 2023-24 (compared to the previous projection of around 4.6%).
Copyright (c) 2022 CercleFinance.com. All rights reserved.