Elior Group Sa · EURONEXT:ELIOR
Elior Group Sa — Debt Investor Presentation (December 2024)
38 slides from Elior Group Sa's debt investor presentation, Dec 9, 2024
Slide 1: Credit Investor Update
eliorcroup @eE Credit Investor Update December 2024
Slide 2: Disclaimer
Disclaimer eliorsroup This document was prepared by Elior Group for the sole purpose of this presentation. This presentation includes only summary information and does not purportto be comprehensive. The information contained in this dooument has not been independently verified. No representation or
Slide 3: Today's presenter
Today’s presenter elloreroup © Didier Grandpré Group Chief Financial Officer >» Appointed Chief Financial Officer in 2023 >» Joined Eliorin 2018 as Director of Financial Control > Previous roles at Alcatel Lucent
Slide 4: Contents
01 Company Overview 02 Key Credit Highlights Contents 03 Historical Financials 04 Financial Outlook & Policy 4
Slide 5: Company Overview
Company Overview 5
Slide 6: Elior at a glance – Key milestones
Elior at a glance – Key milestones 6
Slide 7: Elior at a glance – Company overview
Elior at a glance – Company overview 7
Slide 8: Two complementary business activities
Two complementary business activities › › › › › › › › › › › ~ 8
Slide 9: Two complementary business activities (cont'd)
Two complementary business activities (cont’d) › › › › › › › › › ~ 9
Slide 10: Strong shareholding structure since DMS acquisition
Strong shareholding structure since DMS acquisition ● ● ● ● ● ● ● ● ● ● 10
Slide 11: This year, Elior has adopted new commitments for 2030
This year, Elior has adopted new commitments for 2030 • • • • • • • • • • • 11
Slide 12: Key Credit Highlights
Key Credit Highlights 12
Slide 13: Key credit highlights
Key credit highlights 1 2 3 4 5 13
Slide 14: Large and consistently growing addressable market with strong fundamentals
1 Large and consistently growing addressable market with strong fundamentals ✓ ● ✓ ● ✓ ● ✓ ● 14
Slide 15: High growth potential in the French catering market
1 High growth potential in the French catering market 23% 39% 22% 16% › › 15
Slide 16: Attractive facility management market with integrated solutions driving future growth
1 Attractive facility management market with integrated solutions driving future growth ✓ ● ✓ ● ✓ ● ✓ ● ✓ ● ✓ ● Integrated Integrated offers 8% offers 26% Group Individual Group Individual services 28% services 64% services 29% services 45% 16
Slide 17: Undisputable leading operator…
2 Undisputable leading operator… 3.0 2.7 1.4 2.2 2.0 1.4 1.2 1.1 1.7 0.7 0.7 17
Slide 18: …serving a global base of solid and diverse blue-chip customers
2 …serving a global base of solid and diverse blue-chip customers › › › › › › › › 18
Slide 19: Case Studies: Strong client dynamic for FY24
2 Case Studies: Strong client dynamic for FY24 › › › › › › › › › › › › › › 19
Slide 20: Resilient and diversified business model reinforced by multiservices leg
3 Resilient and diversified business model reinforced by multiservices leg › › Rest of the World 22% › France 52% › Europe (incl. › UK) 26% › › 5.3% 5.9% 5.2% 3.7% 3.6% 4.1% 3.6% 3.7% 4.2% 3.8% › 2.9% › › FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 20
Slide 21: A lean capex model driving high operational flexibility
3 A lean capex model driving high operational flexibility 2.2% 1.7% 1.5% 1.6% 1.4% 109 98 77 63 64 FY20 FY21 FY22 FY23 FY24 Capex Capex % revenue 21
Slide 22: Restoring profitability post covid and inflation episodes…
4 Restoring profitability post covid and inflation episodes… 176 167 59 (64) (48) (69) FY19 FY20 FY21 FY22 FY23 FY24 22
Slide 23: … thanks to cost optimizations and flexible cost base
4 … thanks to cost optimizations and flexible cost base Variable or semi-variable 55 50 42 Fixed 7 24 42 43 31 FY22 FY23 FY24 › • • • › › 23
Slide 24: Successful renegotiations amidst inflation normalization…
4 Successful renegotiations amidst inflation normalization… France US UK Spain FY 22 H1-23 FY 23 FY24 2 Revenue EBITA 462 (84) 312 139 › › Sep-22 Sep-23 Sep-24 24
Slide 25: … underpinned by thorough catering contracts management culture
4 … underpinned by thorough catering contracts management culture ✓ ✓ ✓ ✓ ✓ 25
Slide 26: A solid and enhanced governance underpinned by Derichebourg's strong commitment
5 A solid and enhanced governance underpinned by Derichebourg’s strong commitment 26
Slide 27: Experienced and supportive management team
5 Experienced and supportive management team ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ 27
Slide 28: Historical Financials
Historical Financials 28
Slide 29: Management focus on profitable growth bearing fruit
Management focus on profitable growth bearing fruit • • • • • 29
Slide 30: Clear action plan put in place by management to steer topline growth…
Clear action plan put in place by management to steer topline growth… 429 468 (285) (423) 984 32 FY23 FY24 (7) Openings Closings 389 212 189 145 (188) 6,053 (154) 4,451 3 FY22 Revenue Net Voluntary exits FY23 Covid Other L4L Price increases PMC DMS Other FX FY24 Revenue development recovery 1 driver
Slide 31: …and sustainably improve profitability
…and sustainably improve profitability 105 (22) 31 42 167 23 4 54 (48) (22) FY22 Adj. EBITA Price vs Cost Volume Net Development Voluntary Exits PMC Exits DMS & other Efficiencies and FX & Other FY24 Adj. EBITA Balance acquisitions synergies 31
Slide 32: Cash management efforts and contained capex leading to a return to positive FCF generation…
Cash management efforts and contained capex leading to a return to positive FCF generation… • • • • 77 17 67 225 (34) (4) 215 (9) (124) FY22 FCF Reported EBITDA Payment of IFRS Change in OWC Securitization Capex Other cash items Tax paid FY24 FCF leases 32
Slide 33: …Supporting the continued deleveraging trajectory
…Supporting the continued deleveraging trajectory 8.3x 7.1x 5.4x 4.1x 3.8x 1,393 1,245 1,256 1,269 1,217 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 (1) Total Net Debt Net Leverage 33
Slide 34: Financial Outlook & Policy
Financial Outlook & Policy 34
Slide 35: Key growth levers
35 Key growth levers Improving retention rate Increasing prices New verticals and new geographies eliorcroup (O Implementing synergies
Slide 36: Outlook for FY2024-2025
Outlook for FY2024-2025 3% 36
Slide 37: Financial policy
Financial policy • • • • • • • • • • • 37
Slide 38: Merci !
eliorcroup
Elior Group — Debt Investor Presentation (December 2024) on 6ix