Elior: E800m cash at end-February

(CercleFinance.com) - Given the spread of the Covid-19 epidemic, catering group Elior says that it is unable to precisely determine the net impact on its targets for FY 2019-20, although adds that, at the end of February 2020, it had around 800 million euros in cash.


To reduce the impact of this situation, the group says that it is using all means available to quickly adapt its organisation, including employees taking leave, training, internal mobility and the temporary unemployment measures.

Following last July's sale of Areas, the company says that it has withdrawn from tourism and has strengthened its balance sheet. As at 30 September 2019, it had gearing of 1.8 times, a level that is well Under the requirements of covenants.


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