Elior Group Sa · EURONEXT:ELIOR
Elior Group Sa — 9M 2014-2015 Earnings Presentation
25 slides from Elior Group Sa's earnings presentation, Aug 28, 2015
Slide 1: 9 months 2014-2015 results
9 months 2014-2015 results August 28, 2015 May 29, 2015
Slide 2: 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
Slide 3: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Q&A 3 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 2015
Slide 4: Strategic highlights
Strategic highlights • Acquisition of the 38% minority interest in Areas in July • Full ownership of the subsidiary allowing for significant synergies • Total consideration: €46m in cash + 9m Elior shares (of which 7,717,500 newly issued shares) • Acquisition of STARR Restaurant Catering Group in Au
Slide 5: Organizational highlights
Organizational highlights • Appointment of Brian Poplin as CEO of THS in the USA. Mike Bailey remains Chairman of the Board of THS • Appointment of Frédéric Fougerat as Group VP Communications • Appointment of Jean-Philippe Querard as Group VP Marketing and Innovation for Contract Catering 5 • 9 MON
Slide 6: Operational highlights
Operational highlights • Innovative concepts and openings • I Love Paris restaurant in Roissy Charles de Gaulle airport • Milan 2015 Expo • Agora Brasserie in French train stations • On-site food trucks in B&I • Vienne Center Parcs • New contracts • D2 Tower in La Défense in B&I in France • L’Oréal
Slide 7: Financial highlights
Financial highlights • Total revenue growth accelerating compared with H1 at 5.9%, including 2.7% organic growth • +2.0% organic in Contract Catering & Support Services • +4.8% organic in Concession Catering & Travel Retail • EBITDA up 4.5% • Group EBITDA margin quasi stable yoy • YTD net result gro
Slide 8: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Q&A 8 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 2015
Slide 9: Strong revenue growth driven by organic growth and forex
Strong revenue growth driven by organic growth and forex REVENUE – €m Organic growth(*) +2.7% 4 500 4,281 4,041 +5.9% 4 000 1,162 3 500 1,089 Perimeter impact +0.9% 3 000 2 500 2 000 Forex impact +2.3% 1 500 2,952 3,119 1 000 500 0 9 months 2013-2014 9 months 2014-2015 (*) By activity: Contract Cate
Slide 10: Strong and steady profitability
Strong and steady profitability EBITDA – €m % of revenue % of revenue 350 325 7.6% 7.7% 311 +4.5% 300 81 70 7.0% 250 6.5% 200 150 8.2% 242 251 8.0% 100 50 0 -2 -6 -50 9 months 2013-2014 9 months 2014-2015 Contract Catering & Support Services Concession Catering & Travel Retail Corporate and not allo
Slide 11: Consolidated Income Statement
Consolidated Income Statement 9 months 9 months Yoy €m Comments 2014-2015 2013-2014 change Revenue 4,280.6 4,040.7 +5.9% EBITDA(1) 325.4 311.3 +4.5% €3.5m positive one-off item in Q3 2013- 2014 (Headquarter) EBIT(1) 208.4 211.3 (1.4)% Non-current (25.6) (53.2) +€27.6m Financial charges (61.3) (111.6
Slide 12: Impact of non current items
Impact of non current items €m Cash impact P&L impact THS & Lexington GW amortization (6.1) Restructuring (24.6) (3.0) Disposal of non strategic activities (0.9) (2.5) Refinancing and IPO (40.3) (12.2) Other (7.2) (1.8) Total (73.0) (25.6) 12 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 20
Slide 13: Free Cash Flow
Free Cash Flow 9months 9months Yoy €m Comments 2014-2015 2013-2014 change EBITDA 325.4 311.3 +4.5% LY positive one-offs and slight increase in Change in WCR (51.5) (34.7) €(16.8)m payment terms in international operations Net Capex (136.8) (145.7) €+8.9m Increase in Contract Catering and decrease in
Slide 14: Net debt evolution over 9 months
Net debt evolution over 9 months net debt as net debt as at operating non current net at 30/09/2014 cash flow tax paid cash items cash interest acquisitions dividends other 30/06/2015 (35) 137 (73) (55) 1,380 (39) Lexington and treasury shares (41) (Areas deal) (45) Evolution of €/$ In € million 1,5
Slide 15: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Q&A 15 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 2015
Slide 16: Contract Catering & Support Services Revenue by Region
Contract Catering & Support Services Revenue by Region 9 months 9 months €m Comments 2014-2015 2013-2014 Revenue 1,664.5 1,652.0 • B&I: higher average spending offset by lower Organic growth +0.7% attendance • Education: higher average spending and France Perimeter and attendance and contribution fr
Slide 17: Contract Catering & Support Services Profitability by Region
Contract Catering & Support Services Profitability by Region 9 months 9 months €m Comments 2014-2015 2013-2014 EBITDA 145.3 147.8 • Strong performance in B&I France • Education and Healthcare performance affected by new and renewed contracts EBITDA margin 8.7% 8.9% EBITDA 105.5 94.6 • Growth in the
Slide 18: Concession Catering & Travel Retail Revenue by Region
Concession Catering & Travel Retail Revenue by Region 9 months 9 months €m Comments 2014-2015 2013-2014 Revenue 696.5 658.2 • Motorways: strong growth in Italy (opening of new service areas) and limited growth in France France Organic growth +5.8% • Airports: sharp upturn in Italy (notably Rome, Bel
Slide 19: Concession Catering & Travel Retail Profitability by Region
Concession Catering & Travel Retail Profitability by Region 9 months 9 months €m Comments 2014-2015 2013-2014 France EBITDA 50.8 44.5 • Strong performance in Italy Belgium • Slight improvement in Motorways Germany margin rate Italy EBITDA margin 7.3% 6.8% • Lower profitability on French airports EBI
Slide 20: Tight control of capex
Tight control of capex Capex – €m Comments % of revenue % of revenue 160 3.6% 145.7 (6.1)% 136.8 3.2% 2.6 140 4.5 • End of heavy investment programs 120 on US turnpikes 100 8.3% 90.1 65.0 5.6% • Start-up of new contracts in B&I and 80 Education in France, in Spain and in the US 60 40 67.2 2.2% 1.8%
Slide 21: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Q&A 21 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 2015
Slide 22: FY 2014-2015 objectives increased
FY 2014-2015 objectives increased • Revenue growth of over 5% (including at least +2.5% organic growth) • Stable EBITDA margin at c. 8.4% • Growing operating cash flow vs 2013-2014 • Strongly growing EPS vs 2013-2014 Note: Guidance to be considered in conjunction with the assumptions detailed in the
Slide 23: Financial agenda
Financial agenda • September 23-24, 2015: Investor day in London • December 11, 2015: FY 2014-2015 results ELIOR Euronext Paris - SBF 120 ISIN: FR 0011950732 23 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 2015
Slide 24: Agenda
Agenda 1 Key highlights 2 Group financial performance 3 Performance by division 4 Outlook 5 Q&A 24 • 9 MONTHS 2014-2015 RESULTS PRESENTATION • AUGUST 28, 2015
Slide 25: Thank you!
B he whol H Beausetrentole ElIOr CO) Thank you!