Elior Group Sa · EURONEXT:ELIOR
Elior Group Sa — Q1 2014-2015 Earnings Presentation
20 slides from Elior Group Sa's earnings presentation, Mar 10, 2015
Slide 1: First quarter 2014-2015 results
First quarter 2014-2015 results March 10, 2015
Slide 2: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Appendix 2
Slide 3: Market environment
Market environment Globally unchanged macroeconomic environment in geographies in which we operate in Q1 2014-2015 but positive signals in some Euro-zone countries Positive impact on motorway traffic of decrease in oil prices 3
Slide 4: Q1 performance: a good start to the year
Q1 performance: a good start to the year Good development in Contract Catering & Support Services Retention rate above 93% Contract signature include AREVA, Eiffage and La Banque Postale in France and Carillion, TVE and VVF for international activities Good development in Concession Catering
Slide 5: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Appendix 5
Slide 6: First application of IFRIC 21
First application of IFRIC 21 Object: accounting of tax other than income tax Application date: as from October 1st, 2014 and retroactive Principle: tax charges are now accounted for on the basis of the tax trigger event vs spread over the fiscal year previously Impact on the quarter: + € 2.
Slide 7: Strong revenue growth driven by organic and external growth
Strong revenue growth driven by organic and external growth REVENUE – €m +5.3% 1,419.8 1,348.7 Organic growth +3.3% 377.2 359.8 Perimeter impact +0.7% 1,042.6 # of days impact 0.0% 989.0 Forex impact +1.2% Q1 13-14 Q1 14-15 Contract Catering & Support Services Concession Catering 7
Slide 8: Profitability in line with expected quarterly and FY guidance
Profitablity in line with expected quarterly and FY guidance EBITDA – €m EBIT – €m % of revenue % of revenue % of revenue % of revenue 7.8% 104.6 +1.5% 106.2 7.5% 5.2% 69.5 (3.2)% 67.3 4.7% 6.7% 22.3 5.9% 1.5% 5.3 24.0 2.7 0.7% 6.8% 6.5% 8.4% 86.3 8.3% 66.8 67.3 82.8 (2.2) (2.5) (2.5) (2.7) Q1 13-14
Slide 9: Consolidated Income Statement
Consolidated Income Statement Yoy Comments €m, 31/12 Q1 2014-2015 Q1 2013-2014 change Revenue 1,419.8 1,348.7 +5.3% EBITDA 106.2 104.6 +1.5% EBIT 67.3 69.5 (3.2)% Provisions and higher amortization Non-recurring (10.3) (3.6) (6.7)M Charges associated with December 2014 refinancing Net financial char
Slide 10: Consolidated Cash Flow Statement and Net Debt Evolution
Consolidated Cash Flow Statement and Net Debt Evolution Yoy change Comments €m, 31/12 Q1 2014-2015 Q1 2013-2014 (€m) EBITDA 106.2 104.6 +1.5% Exceptional receivable securitization Change in WCR (90.4) (64.6) (25.8)M LY for +€17M Capex (55.5) (56.0) (0.9)% Operating Cash Flow (39.7) (16.0) (23.7)M Ca
Slide 11: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Appendix 11
Slide 12: Contract Catering & Support Services Revenue by Region
Contract Catering & Support Services Revenue by Region Revenue - €m Q1 14-15 Q1 13-14 Comments Revenue 555.3 553.1 • B&I: higher average spending offset by lower attendance (low calendar effect) Organic growth 0.4% • Education: negative calendar effect (-1 day France Perimeter and vs LY) offset by h
Slide 13: Contract Catering & Support Services Profitability by Region
Contract Catering & Support Services Profitability by Region Yoy €m Q1 14-15 Q1 13-14 Change Comments EBITDA 49.1 48.2 +1.9% • Strong performance in B&I France • Negative calendar effect and impact of ramping-up CG92 contract in Education EBITDA margin 8.8% 8.7% +0.1 pt EBITDA 37.2 34.6 +7.5% • Marg
Slide 14: Concession Catering & Travel Retail Revenue by Region
Concession Catering & Travel Retail Revenue by Region Revenue - €m Q1 14-15 Q1 13-14 Comments Revenue 230.5 218.5 • Motorways: strong growth in Italy and Germany (opening of new service areas) France, Organic growth 5.5% • Airports: sharp upturn in Italy (new points Germany, Perimeter and of sale in
Slide 15: Concession Catering & Travel Retail Profitability by Region
Concession Catering & Travel Retail Profitability by Region Yoy €m Q1 14-15 Q1 13-14 Change Comments • Lower performance on French motorways France, EBITDA 15.0 16.6 (9.6)% and airports (notably Nice airport) Germany, • Higher activity in Italy and City sites and Belgium, Leisure Italy EBITDA margin
Slide 16: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Appendix 16
Slide 17: FY 2014-2015 guidance confirmed
FY 2014-2015 guidance confirmed Growth of over 4% (including at least 2% of organic growth) Revenue This objective does not include upcoming acquisitions in the fiscal year. EBITDA Stable Group EBITDA margin Operating Growing year-on-year cash flow EPS Growing strongly year-on-year Dividend
Slide 18: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Appendix 18
Slide 19: Financial Communication Calendar
Financial Communication Calendar May 29, 2015: H1 2014-2015 results release September 1st, 2015: Q3 2014-2015 results release 19
Slide 20: Disclaimer
Disclaimer This document was prepared by Elior 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 document has not been independently verified. No representation or warranty, expre