Elior Group Sa · EURONEXT:ELIOR

Elior Group Sa — H1 2022-23 Earnings Presentation

41 slides from Elior Group Sa's earnings presentation, 2023

  1. Slide 1: 2022-2023 Half-Year Results

    2022-2023 Half-Year Results 1

  2. Slide 2: Disclaimer

    2022-2023 HALF-YEAR RESULTS eliorsroup © Disclaimer This document was prepared by Elior Group for the sole purpose of this presentation. This presentation includes only summary information and does not purport to be comprehensive. The information contained in this dooument has not been independently

  3. Slide 3: Agenda

    01 02 03 04 05 Introduction Financial Results Business Review Outlook & Conclusion Q&A eliorsroup ©

  4. Slide 4: Introduction

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  5. Slide 5: Key highlights

    2022-2023 HALF-YEAR RESULTS Key highlights Organic growth +14.1% Price renegotiations +€144m during H1 2022-23 Adj. EBITA margin 1.7% Progress on Self-help initiatives in France Free cash-flow €(15)m ¥) DERICHEBOURG multiservices eliorsroup ©

  6. Slide 6: Financial Results

    2022-2023 HALF-YEAR RESULTS Cy ") ae = Financial R

  7. Slide 7: Strong double-digit organic growth…

    Strong double-digit organic growth… +239 (+10.7%) 2,478 2,239 -117 2,478 40 1,105 316 985 2,239 France 1,248 1,366 International Corporate & other +14.1% -5.2% +1.8% 6 7 H1 2022 Organic Perimeter Forex H1 2023 Actual Growth Actual H1 2022 H1 2023 Actual Actual 7

  8. Slide 8: … driven by robust LFL and positive net new business

    … driven by robust LFL and positive net new business +316 (+14.1%) -166 231 -30 2,555 47 102 2,239 132 +5.9% +4.5% +2.1% +10.3% -7.4% -1.3% H1 2022 Covid Price Other L4L Openings Closings Voluntary H1 2023 Reported increases drivers exits Organic revenue revenue Like-for-like growth Net development

  9. Slide 9: Elior Group operationally profitable again

    Elior Group operationally profitable again 41 +€57m +240bp France contract catering & Services 10 International contract catering 1.7% 37 Corporate & other 5 -6 -11 -0.7% -10 -16 H1 2022 H1 2023 H1 2022 H1 2023 9

  10. Slide 10: Inflation headwinds partially offset by price increases

    Inflation headwinds partially offset by price increases 41 2 1 2.5 2.5 52 20 22 -147 -16 102 H1 2022 Preferred Covid Inflation Price Operating Net Other drivers Perimeter FX H1 2023 Adj. EBITA Meals closure recovery increases efficiencies development Adj. EBITA 10

  11. Slide 11: Strong improvement in net result

    Strong improvement in net result Simplified income statement (in €m) H1 2022-23 H1 2021-22 YoY change Revenue 2,478 2,239 +239 Adjusted EBITA 41 (16) +57 Adjusted EBITA margin 1.7% -0.7% +240bp Share based compensation (3) (2) -1 Net amort. of intangible assets recognized on consolidation (8) (9) +1

  12. Slide 12: Disciplined working capital management improving free cash-flow year-on-year

    Disciplined working capital management improving free cash-flow year-on-year -2 11 -15 24 4 44 -96 H1 2022 Adjusted EBITDA Payment of leases Net change in op. Non-recurring cash Other cash items H1 2023 Actual under IFRS16 working capital Actual Free cash-flow Free cash-flow 12

  13. Slide 13: Maintaining net debt level

    Maintaining net debt level -1,217 -15 -29 4 -1,245 12 Sep 30, 2022 FCF Interests paid Change in FX & Mar 31, 2023 Net debt & financial fees debt IFRS16 other Net debt 13

  14. Slide 14: Liquidity broadly stable

    Liquidity broadly stable -29 52 399 -13 394 -15 Sep 30, 2022 Free cash flow Cash from on-balance Interests paid FX & other Mar 31, 2023 Available sheet securitization & financial fees Available liquidity liquidity 14

  15. Slide 15: Business Review

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  16. Slide 16: Intense price renegotiation efforts in a challenging context

    Intense price renegotiation efforts in a challenging context +144 283 234 139 69% 44% FY 2022 H1 2023 Sep 30, 2022 Dec 31, 2022 Mar 31, 2023 16

  17. Slide 17: Good progress on self-help initiatives in France

    Good progress on self-help initiatives in France Share of total Progress € opportunity status Central kitchens B&I productivity Procurement SG&A 17

  18. Slide 18: France: central kitchens and B&I productivity

    France: central kitchens and B&I productivity o o 18

  19. Slide 19: France: procurement and SG&A

    France: procurement and SG&A 19

  20. Slide 20: Derichebourg Multiservices accelerating Elior's turnaround

    Derichebourg Multiservices accelerating Elior ’s turnaround 20

  21. Slide 21: Leadership in France with a strong international footprint

    Leadership in France with a strong international footprint 5.2 134,000 8 21

  22. Slide 22: Strong complementarity supporting strategic rationale

    Strong complementarity supporting strategic rationale 22

  23. Slide 23: At least €30m EBITDA run-rate synergies by FY26

    At least €30m EBITDA run-rate synergies by FY26 40% 100% 60% - Cost synergies Development Synergies Total › › 23

  24. Slide 24: Integration already well under way

    Integration already well under way 24

  25. Slide 25: Outlook & Conclusion

    2022-2023 HALF-YEAR RESULTS N a eliorcro

  26. Slide 26: FY 2022-23 outlook

    2022-2023 HALF-YEAR RESULTS FY 2022-23 outlook 7 Organic revenue growth around +10% = Adjusted EBITA margin towards the lower end of the 1.5%-2% range eliorsroup © Capex as % of revenue circa 1.7%

  27. Slide 27: Renewed optimism

    2022-2023 HALF-YEAR RESULTS Renewed optimism 3} DERICHEBOURG multiservices integration well under way a Turnaround confirmed despite short-term headwinds New management for new impetus New governance for sustainable value creation eliorsroup ©

  28. Slide 28: Q&A

    2022-2023 HALF-YEAR RESULTS y & eliorcroup @

  29. Slide 29: Appendices

    2022-2023 HALF-YEAR RESULTS eliorcroup eC

  30. Slide 30: Q2 revenue bridge & split by geography

    Q2 revenue bridge & split by geography +130 (+11.6%) 1,253 1,123 -63 1,253 8 572 185 496 1,123 France 625 678 International +16.5% -5.6% +0.7% Corporate & other 2 3 Q2 2022 Organic Perimeter Forex Q2 2023 Actual Growth Actual Q2 2022 Q2 2023 Actual Actual 30

  31. Slide 31: Detailed income tax

    Detailed income tax (in €m) H1 2022-23 H1 2021-22 YoY change Tax on added value (CVAE) (4) (6) +2 Current tax - - - Deferred tax 1 (40) +41 Total income tax (3) (46) +43 31

  32. Slide 32: Adjusted EBITDA to free cash-flow bridge

    Adjusted EBITDA to free cash-flow bridge 110 -32 -33 -45 -15 -15 H1 2023 Capex Lease payments Change in op. Non-recurring H1 2023 Adjusted under IFRS16 working capital cash items Free cash-flow EBITDA 32

  33. Slide 33: Detailed change in working capital (incl. securitization)

    Detailed change in working capital (incl. securitization) 24 10 0 -8 -11 -8 -60 -45 Inventories Receivables Payables Social Tax Other Total 33

  34. Slide 34: Modelling details for FY 2022-23

    Modelling details for FY 2022-23 - - 34

  35. Slide 35: New governance ensuring balance in the long term

    New governance ensuring balance in the long term 35

  36. Slide 36: New Board of Directors

    eliorsroup © New Board of Directors Adapted to the new shareholder base and safeguarding the interests of all stakeholders 2022-2023 HALF-YEAR RESULTS independent directors Gilles Auffret lead independant director FSP represented by Virginie Duperat-Vergne EMESA represented by nés Cuatrecasas Sara B

  37. Slide 37: CSR: main achievements in the first half of 2022-23

    CSR: main achievements in the first half of 2022-23 37

  38. Slide 38: CSR: main achievements in the first half of 2022-23

    CSR: main achievements in the first half of 2022-23 38

  39. Slide 39: Alternative performance indicators

    Alternative performance indicators • • • • • • • 39

  40. Slide 40: Financial calendar for fiscal year 2022-23

    Financial calendar for fiscal year 2022-23 40

  41. Slide 41: Thank you!

    2022-2023 HALF-YEAR RESULTS eliorcroup eC

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