Elior Group Sa · EURONEXT:ELIOR
Elior Group Sa — H1 2024-25 Earnings Presentation
31 slides from Elior Group Sa's earnings presentation, May 21, 2025
Slide 1: Half-Year Results 2024-2025
2024-2025 Half-Year Results May 21, 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
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Slide 4: Agenda
01. Introduction / Highlights 02. Financial Results 03. Refinancing and Business Development 04. Outlook & Conclusion 05. Q&A Agenda 4
Slide 5: H1 2024-25 – Highlights
H1 2024-25 – Highlights Organic growth Adj. EBITA margin Net result +1.5% 4.1% / +90bps €43m (Contract Catering at +2.3%) (Contract Catering at +120bps) Free Cash-Flow Net Debt/EBITDA Ratio Refinancing successfully completed in January 25 €205m 3.3x 5
Slide 6: Financial Results
Financial Results 6
Slide 7: Organic growth driven by contract catering…
Organic growth driven by contract catering… Year-on-year revenue bridge (in €m) +46 +90 (+1.5%) (+2.9%) 3,213 -4 21 3,169 27 -5 -1 52 3,123 +2.3% -0.6% -8.1% +0.9% +0.7% -0.1% H1 2024 Contract Multiservices Cities H1 2025 Perimeter Forex Other H1 2025 Catering Organic Growth 7
Slide 8: … and by price discipline
… and by price discipline Year-on-year revenue bridge (in €m) +46 (+1.5%) Retention rate 91.0% 221 March 31, 2025 -263 91.6% 79 -19 3,169 excl. voluntary exits 3,123 28 +0.9% +2.5% +7.1% -8.4% -0.6% 92.3% March 31, 2024 H1 2024 Volume Inflation/ Openings Closings Voluntary H1 2025 Price Exits Organi
Slide 9: Strong improvement in the operational profitability…
Strong improvement in the operational profitability… Contract Catering Multiservices Elior Group +33 +1 +32 124 16 17 132 91 100 Adjusted EBITA H1 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 +120 bps +10 bps +90 bps Adjusted 5,2% 1,9% 2,0% 4,1% 4,0% 3,2% EBITA margin H1 2024 H1 2025 H1 2024 H1 2025
Slide 10: …driven by pricing and further operational efficiencies
…driven by pricing and further operational efficiencies Year-on-year adjusted EBITA bridge (in €m) -4 132 14 -2 22 100 2 H1 2024 L4L volumes & Price vs. Costs Net Development Efficiencies & Others H1 2025 other drivers inflation balance Synergies 10
Slide 11: Net Result Group share increased by €42m in one year
Net Result Group share increased by €42m in one year YoY Simplified income statement (in €m) H1 2024-25 H1 2023-24 change R evenue 3,213 3,123 90 Adjusted E BITA 132 100 32 Adjusted E BITA margin 4.1% 3.2% +90bps Share based compensation (1) 1 -2 Net amort. of intangible assets recognized on consoli
Slide 12: Free Cash Flow improving by €36m
Free Cash Flow improving by €36m Year-on-year free cash flow bridge (in €m) +36 -2 205 9 38 169 9 -18 0 H1 2024 EBITDA CAPEX IFRS16 Net Change Other Cash Tax Paid H1 2025 Free Cash- leases in OWC Items Free Cash- Flow payment Flow 12
Slide 13: Net debt reduced by €146m in six months…
Net debt reduced by €146m in six months… Net debt bridge (in €m) +146 -46 -12 13 -4 -9 205 -1.123 -1.269 September FCF Interests paid & Transaction Change in Net FX and March 2025 2024 financial fees costs Debt IFRS16 Acquisitions Other Net Debt Net Debt 13
Slide 14: …leading to further deleveraging
…leading to further deleveraging Net debt / EBITDA leverage ratio and covenant test threshold 7.5 6.0 Sept July Oct Jan 5.3 2023 2024 2024 2025 4.5 4.5 B+ Positive 7.1 Outlook 5.4 4.1 3.8 B B B+ 3.3 Negative Positive Stable Outlook Outlook Outlook March 2023 Sept 2023 (*) March 2024 (**) Sept 2024 M
Slide 15: Refinancing and Business Development
Refinancing and Business Development 15
Slide 16: Elior Group refinancing providing visibility for next 5 years
Elior Group refinancing providing visibility for next 5 years Securitization (€m) Debt maturity (€m) 900 On-Balance Sheet Off-Balance Sheet 800 +80 700 640 600 560 114 500 190 400 300 526 200 370 100 0 FY25 FY26 FY27 FY28 FY29 FY30 Bonds Securitization IFRS16 leases Sept 24 March 25 Bank borrowings
Slide 17: Continuous contribution from synergies
Continuous contribution from synergies Recorded cumulative synergies (€m) Annualized synergies (€m) 40 35 36 31 H2 2024 H1 2025 H2 2024 H1 2025 17
Slide 18: Business development momentum for future growth
Business development momentum for future growth Net business development in H1 2025 (12-month run rate in €m) 282 -171 112 Gains Losses Net development 18
Slide 19: Outlook & Conclusion
Outlook & Conclusion 19
Slide 20: Updated Outlook for FY2024-2025
Updated Outlook for FY2024-2025 FY 2024-2025E FY 2024-2025E 30/09/2025E Organic revenue growth : Adjusted EBITA Margin Net Debt/ EBITDA ratio +1% to +2% 3.3% to 3.6% <3.5x Focus on profitable growth +50bps to +80bps YoY Below 4.5x covenant 20
Slide 21: Key achievements since end of March 2023
Key achievements since end of March 2023 Proforma basis – Last 12-month end March 2025 vs. end March 2023 Top line increase EBITA increase Group net result increase (constant currency) +€552m / +10% +€144m / +2.2pts +€185m / +3.3pts Cumulated Free Cash-Flow Net Debt / Leverage ratio Cumulative annua
Slide 22: Elior Group benefits from solid foundations
Elior Group benefits from solid foundations A streamlined and more agile operational organization closer to customers A culture of profitable growth and cash discipline A more balanced portfolio of activity between contract catering and multiservices A strong sponsorship for operational excellence a
Slide 23: SLINSAY YVAA-S1VH S$Z02-H202
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Slide 24: Appendices
Appendices 24
Slide 25: Updated other financial considerations for FY2024-25
Updated other financial considerations for FY2024-25 CAPEX Working capital Non-recurring cash as % of revenue change 2.0%-2.5% +€80-120m €(15)m-€(20)m 25
Slide 26: Free Cash-Flow of €205m
Free Cash-Flow of €205m EBITDA to free cash-flow bridge (in €m) 198 -5 205 -7 -61 121 -41 H1 2025 CAPEX Payment of leases Net change Other Tax paid H1 2025 EBITDA recognized under in OWC cash items Free Cash-Flow IFRS16 26
Slide 27: Reported revenue by operating segment
Reported revenue by operating segment 27
Slide 28: Reported revenue by geographic area
Reported revenue by geographic area 28
Slide 29: Adjusted EBITA by operating segment
Adjusted EBITA by operating segment 29
Slide 30: Income tax breakdown
Income tax breakdown (in €m) H1 2024-25 H1 2023-24 YoY change Tax on added value (CVAE) (4) (5) +1 Current tax (10) (9) (1) Deferred tax (4) (6) 2 Total income tax (18) (20) 2 30
Slide 31: Thank you!
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