Elior Group Sa · EURONEXT:ELIOR
Elior Group Sa — Elior Group Ord — FY2024-25 Earnings Presentation
34 slides from Elior Group Sa's earnings presentation, Nov 19, 2025
Slide 1: 2024-2025 Full-Year Results
2024-2025 Full-Year Results November 19, 2025 1
Slide 2: Disclaimer
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 document has not been independently verified. No representation or warranty,
Slide 3: Introduction / Highlights
01 Introduction, | Highlights | ___j
Slide 4: Agenda
01. Introduction / Highlights 02. Financial Results 03. Corporate Social Responsibility 04. Business Development 05. Outlook & Conclusion 06. Q&A Agenda 07. Appendices 4
Slide 5: FY 2024-25 – Highlights
FY 2024-25 – Highlights Organic growth Adj. EBITA margin Profit Before Tax +1.3% 3.3% €65m 3.5% / +70 bps excl. Temporary Staffing (+€70m) +1.7% excl. Temporary Staffing Free Cash-Flow Net Debt/EBITDA Ratio Dividends distribution proposal €228m 3.3x 4 cents per share (+€13m) (-0.5 pt) 5
Slide 6: Financial Results
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Slide 7: Organic growth driven by contract catering
Organic growth driven by contract catering Year-on-year revenue bridge (in €m) +79 +97 (+1,3%) (+1,6%) -23 50 -9 6.150 -4 6.132 -3 86 6.053 +2.0% -0.3% -15.4% +0.8% -0.3% -0.2% FY24 Actual Contract Catering Multiservices Cities FY25 Organic Growth Perimeter Forex Others FY25 Actual Group organic gro
Slide 8: Sustained price increases along the year as the main growth driver
Sustained price increases along the year as the main growth driver Year-on-year revenue bridge (in €m) Price increases +79 (1,3%) 2,5% 2,4% 458 -566 H1 H2 Retention rate 146 6.132 90.6% 6.053 41 September 30, 2025 +0.7% +2.4% +7.6% -9.4% 91.2% Actual FY24 Volume Price Openings Closings Actual FY25 I
Slide 9: Further contract portfolio rationalization leading to a positive contribution from net development
Further contract portfolio rationalization leading to a positive contribution from net development Year-on-year adjusted EBITA bridge (in €m) +35 (+21%) 45 -43 -6 202 23 13 167 3 +7.3% +8.9% +9.8% -7.6% Actual FY24 Volume and Price Openings Closings Efficiencies Others Actual FY25 Other L4L Increase
Slide 10: Contract Catering profitability improving by 100 bps
Contract Catering profitability improving by 100 bps Contract Catering Multiservices Elior Group +46 -2 +42 179 48 46 202 209 39 167 Adjusted 133 EBITA FY 2024 FY 2025 FY 2024 FY 2025 FY 2025 FY 2024 FY 2025 FY 2025 +100 bps +10 bps +70 bps Adjusted 4,0% 2,9% 3,0% 3,5% 3,3% 3,0% 2,3% 2,8% EBITA marg
Slide 11: Turnaround in Profit Before Tax
Turnaround in Profit Before Tax Simplified income statement (in €m) FY 2024-25 FY 2023-24 YoY change Revenue 6,150 6,053 97 Adjusted EBITA 202 167 35 Adjusted EBITA margin 3,3% 2,8% +50 bps Share based compensation (1) 0 (1) Net amort. of intangible assets recognized on consolidation (24) (36) 12 EB
Slide 12: Free Cash-Flow higher than last year from operations
Free Cash-Flow higher than last year from operations EBITDA to free cash-flow bridge (in €m) 342 -145 -16 -17 228 89 -81 56 FY 2025 Reported CAPEX Payment of Change in OWC Securitization Other Cash items Tax Paid FY 2025 EBITDA leases recognized from operations & Factoring Free Cash-Flow under IFRS1
Slide 13: Net debt further reduced by €144m
Net debt further reduced by €144m Net debt bridge (in €m) +144 -97 29 -9 -13 6 -1.125 228 -1.269 Sept 2024 FCF Interests paid Change in Net Acquisitions Refinancing costs FX and Sept 2025 Net Debt & financial fees Debt IFRS16 Other Net Debt 13
Slide 14: Leverage ratio maintained below 3,5x
Leverage ratio maintained below 3,5x Net debt / EBITDA leverage ratio and covenant test threshold 7,5 6,0 5,3 4,5 4,5 4,5 B+ Positive 7,1 Outlook 5,4 B+ 4,1 3,8 3,3 3,3 Stable Outlook March 2023 Sept 2023 (*) March 2024 (**) Sept 2024 March 2025 Sept 2025 Covenant (*) Ratio at 30/09/2023 calculated
Slide 15: Corporate Social Responsibility
Corporate Social Responsibility 15
Slide 16: CSR Strategy Aimer sa Terre – Horizon 2030 deployed and aligned with CSRD
CSR Strategy Aimer sa Terre – Horizon 2030 deployed and aligned with CSRD Pillars KPI'S FY25 Achievements FY30 Targets Lower GHG emissions - group -4% -25% PRESERVE Lower GHG emissions - catering 3.3 KgCO2/meal -7% YoY 3.03 kgCO2/meal RESSOURCES Sustainable containers 66% 100% Food waste reduction -
Slide 17: Business Review
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Slide 18: Ramp-up of securitization program
Ramp-up of securitization program Securitization (€m) Debt maturity (€m) 900 On-Balance Sheet Off-Balance Sheet 800 700 640 600 560 578 114 500 135 190 400 300 526 200 443 370 100 66% 82% 77% 0 FY26 FY27 FY28 FY29 FY30 >FY30 Bonds Securitization IFRS16 leases Sept 24 March 25 Sept 25 Bank borrowings
Slide 19: Stable liquidity close to €400m since refinancing
Stable liquidity close to €400m since refinancing Liquidity bridge (in €m) -9 81 -100 18 -14 -56 30 155 -97 394 385 -13 -13 Sept 2024 Free Cash Cash from NEU CP Reimbursement Reduction PGE Change Interests paid Refinancing FX and other Sept 2025 Available Flow excl. Securitization of Term Loan of Ov
Slide 20: Continuous contribution from synergies
Continuous contribution from synergies Recorded cumulative synergies (€m) Annualized synergies (€m) 43 40 39 36 35 31 SEPT 2024 MARCH 2025 SEPT 2025 SEPT 2024 MARCH 2025 SEPT 2025 20
Slide 21: Business development following contract rationalization
Business development following contract rationalization Net business development in FY 2025 on a 12-month run rate basis (in €m) 537 -425 112 Gains Losses Net development 21
Slide 22: CAPEX supporting revenue growth and further efficiencies
CAPEX supporting revenue growth and further efficiencies FY26 Following years ~3% of revenues ~2% of revenues Catch-up in central kitchens Support to business development New Transformation Program / IT Support to deployment of common investment in core model processes and platforms 22
Slide 23: Outlook & Conclusion
Outlook & Conclusion 23
Slide 24: Estimates for FY2025-2026
Estimates for FY2025-2026 FY 2025-2026E FY 2025-2026E 30/09/2026E Organic revenue growth: Adjusted EBITA Margin Net Debt/ EBITDA ratio +3% to +4% 3.5% to 3.7% 3.0x Keeping deleveraging priority Focus on profitable growth Around pre-Covid level while investing for further growth and profitability 24
Slide 25: Elior Group benefits from solid foundations
Elior Group benefits from solid foundations Robust and sustainable operating model put in place Commercial momentum leveraging on customer-centric organizations Pricing discipline and business development driving profitability improvement Deleveraging through free cash-flow generation and prudent fi
Slide 26: Q&A
Q&A 26
Slide 27: Appendices
Appendices 27
Slide 28: Other financial considerations for FY2025-26
Other financial considerations for FY2025-26 CAPEX Working capital Non-recurring cash as % of revenue change 3.0% +€40-60m < €(10)m 28
Slide 29: Reported revenue by operating segment
Reported revenue by operating segment 29
Slide 30: Reported revenue by geographic area
Reported revenue by geographic area 30
Slide 31: Adjusted EBITA by operating segment
Adjusted EBITA by operating segment 31
Slide 32: Income tax breakdown
Income tax breakdown (in €m) FY 2024-25 FY 2023-24 YoY change Tax on added value (CVAE) (6) (7) 1 Current tax (7) (17) 10 Deferred tax 35* (13) 48 Total income tax 22 (37) 59 * Including : USA +€32m, France +€7m and UK -€4m 32
Slide 33: Alternative performance indicators
Alternative performance indicators Organic growth in consolidated revenue: growth in consolidated revenue Operating free cash flow: The sum of the following items as defined in the expressed as a percentage and adjusted for the impact of (i) changes in Universal Registration Document and recorded ei
Slide 34: Thank you!
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