Slide 1: 2023-2024 Full-Year Results
2023-2024 Full-Year Results 1
Slide 2: Disclaimer
2023-2024 FULL-YEAR RESULTS eliorcroup e Disclaimer 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
Slide 3: Introduction
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Slide 4: Agenda
01 02 03 04 05 Introduction Financial Results Business Review New ESG plan Outlook & Conclusion 06 QsA eliorcroup e
Slide 5: FY 2023-24 Highlights
FY 2023-24 Highlights New step of improvement in profitability and deleveraging +5.1% €333m (+€127m) 2.8% (+170 bps) €215m 3.8x €36m 5
Slide 6: Financial Results
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Slide 7: Revenue driven by solid organic growth and perimeter effects
Revenue driven by solid organic growth and perimeter effects + 830 +15.9% 6,053 554 503 5,223 20 3 +5.1% +11,1% -0,3% DMS Cater to You Others Food Services (US) 7
Slide 8: Organic growth supported by price effects and robust volumes
Organic growth supported by price effects and robust volumes +282 +4.9% 91.2% 6,042 92.7% 5,760 +2.3% +3.3% +8.1% -7.3 % -1.5% 92.0% FY 2023 pf L4L volumes Price revisions Openings Closings Volontary exits FY 2024 Revenue and other and Organic drivers renegociations Revenue Net development Like-for-
Slide 9: Continued improvement in profitability
Continued improvement in profitability +108 +170 bps 9
Slide 10: Thanks to price discipline and accelerating synergies
Thanks to price discipline and accelerating synergies 167 59 FY 2023 L4L volumes Price Net Efficiencies Volontary exits Scope Other & forex FY 2024 Adj. EBITA and other vs costs development & synergies Adj. EBITA drivers Inflation balance 10
Slide 11: EBITA drives strong improvement in net profit
EBITA drives strong improvement in net profit ▪ Simplified Income statement (in €m) FY 2023-24 FY 2022-23 YoY change ▪ Revenue 6 053 5 223 830 EBITDA 333 206 127 Ajusted EBITA 167 59 108 ▪ Adjusted EBITA margin 2,8% 1,1% +170 bps Share-based compensation - (6) 6 Net amort. of intangible assets recog
Slide 12: Strong conversion of operational recovery on Free Cash-Flow
Strong conversion of operational recovery on Free Cash-Flow 333 -98 -23 215 -19 -85 107 FY 2024 EBITDA CAPEX Payment of leases Net change Non-recurring Tax Paid FY 2024 recognized under in OWC and others Free Cash-Flow IFRS16 Cash 12
Slide 13: Return to strong positive free cash flow
Return to strong positive free cash flow 215 61 154 -9 18 112 -21 -9 121 -58 FY 2023 FCF Adjusted Capex IFRS 16 lease Change in op. Tax paid Other FY 2024 FCF Securitization FY 2024 EBITDA payments working cash items (excluding and factoring FCF capital Securitization) (Securitization excluded) 13
Slide 14: Net debt reduced by €124m in one year
Net debt reduced by €m 124 in one year -91 35 -25 -10 215 -1,269 -1,393 Sept 30, 2023 Free Interests paid Change in Acquisitions & US FX and Sept 30, 2024 Net debt cash-flow & financial fees IFR16 lease minority buy-out others Net debt liabilities 14
Slide 15: Liquidity improves by €81m helped by strong FCF and Securitization
Liquidity improves by € 81m helped by a strong FCF generation and increasing Securitization program 394 313 Sept 2023 Free cash- Cash from Reduction Interests Reimbursement PGE Net FX and Sept 2024 Available Flow Securitization/ in overdraft paid & NEU CP Reimbursement Acquisitions Other Available L
Slide 16: New Securitization optimizing the balance sheet profile and liquidity
New Securitization optimizing the balance sheet profile and liquidity ▪ ▪ ▪ ▪ 16
Slide 17: As a result, Elior Group is deleveraging as planned
As a result, Elior Group is deleveraging as planned ▪ ▪ 7,5 6,0 5,3 4,5 4,5 8,3 Sept July Oct 7,1 2023 2024 2024 5,4 B+ 4,1 3,8 Positive Outook B B Sept 2022 Mars 2023 Sept 2023 (*) Mars 2024 (*) Sept 2024 Sept 2025 Negative Positive Outlook Outlook 17
Slide 18: Business Review
2024 FULL-YEAR RESULTS 23- 20 18 eliorcroup eC 03 Business
Slide 19: Strong performance for both divisions
Strong performance for both divisions +293 +5.1% +99 +146% FY 2023 pf Contract Multiservices Other FY 2024 Revenue catering Revenue FY 2023 pf Contract Multiservices Corporate FY 2024 EBITA catering and Other EBITA +5.5% +3.9% 19
Slide 20: A strong improvement in profitability in 2 years
A strong improvement in profitability in 2 years +410 bps ▪ +70 bps +390 bps 3,0% 2,9% 2,8% 2,3% ▪ 2,2% ▪ 1,1% 1,2% ▪ ▪ -1,1% -1,1% Contract Catering Multiservices Group FY 2022 FY 2023 pf FY 2024 20
Slide 21: Successful renegociations in the context of inflation normalization
Successful renegociations in the context of inflation normalization 79 21
Slide 22: Priorization on margin accretive net development
Priorization on margin accretive net development 22
Slide 23: Improving profitability notably thanks to cost optimization and synergies
Improving profitability notably thanks to cost optimization and synergies 23
Slide 24: Growing contribution from synergies in EBITA
Growing contribution from synergies in EBITA › › › › › › › › › 24
Slide 25: Few examples of cross-selling and organization synergies
Few examples of cross-selling and organization synergies › › › › › › › › › › › › › › 25
Slide 26: New ESG plan
New ESG plan Horizon 2030
Slide 27: 2030 Targets
This year, the Group has adopted new commitments for 2030, 2030 TARGETS and maintained those set for 2025. These commitments are based on a double materiality assessment used to identify our priorities. GHG emissions down by 1/4 Local, seasonal produce that respects biodiversity CULTIVATE TALENT 50
Slide 28: 2023-2024 concrete results
2023-2024 concrete results 4 key priorities Preserve Resources Sustainable Food and Cultivate Talent and Support a Responsible Service Difference Economy • -3,57 kg CO2/meal • 23,1 Freqquency rate, up9% • 14.5% of responsible products, • 48,6% of recipes with down 12% yoy yoy +2 pts yoy Nutri-Score
Slide 29: Outlook & Conclusion
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Slide 30: Outlook for FY2024-2025
2023-2024 FULL-YEAR RESULTS Outlook for FY2024-2025 Val FY2024-25E Organic revenue growth: +3% to 5% Ramp-up of recent acquisitions FY2024-25E Adjusted EBITA margin >3% FY26E cost synergies target of €44m eliorcroup e las 30/09/2025E Net debt / EBITDA ratio below 3.5x Ratio below 3.0x at 30/09/26E
Slide 31: Conclusion
2022-2023 FULL-YEAR RESULTS Conclusion eliorcroup e FY24 results delivered as per expectations Customer-centric strategy implemented since April 2023 Streamlined organization and continuous operating improvement Constant focus on cash generation and deleveraging
Slide 32: Financial calendar for fiscal 2024-2025
Financial calendar for fiscal 2024-2025 32
Slide 33: 2023-2024 Full-Year Results
2023-2024 FULL-YEAR RESULTS eliorcroup Ee
Slide 34: Appendices
2023-2024 FULL-YEAR RESULTS elioreroup eC Appendices \@ ‘ See ae
Slide 35: Updated other financial considerations for FY2024-25
Updated other financial considerations for FY2024-25 35
Slide 36: Reported revenue by operating segment
Reported revenue by operating segment H1 revenue (Oct-March) H1 H1 Organic Changes in scope Currency Reported (in €m) 2023-24 2022-23 growth of consolidation effect growth Contract Catering 2 293 2 169 5,9% 0,6% -0,8% 5,7% Multiservices 823 302 6,0% 166,9% 0,0% 172,9% Sub-total 3 116 2 471 5,9% 20,9
Slide 37: Reported revenue by geographic area
Reported revenue by geographic area H1 revenue (Oct-March) H1 H1 Reported (in €m) 2023-24 2022-23 growth France 1 607 1 112 44,5% Europe (including UK) 841 719 17,0% Rest of World 675 647 4,3% GROUP TOTAL 3 123 2 478 26,0% H2 revenue (April-Sept) H2 H2 Reported (in €m) 2023-24 2022-23 growth France
Slide 38: Adjusted EBITA by operating segment
Adjusted EBITA by operating segment H1 (Oct-March) Adjusted EBITA (€m) Change in Adjusted EBITA margin (%) Change in adjusted adjusted 2023-24 2022-23 EBITA (€m) 2023-24 2022-23 EBITA margin (bps) Contract Catering 91 49 42 4,0% 2,3% 170 bps Multiservices 16 (2) 18 1,9% -0,8% 270 bps Sub-total 107 4
Slide 39: Income tax breakdown
Income tax breakdown (in €m) FY 2023-24 FY 2022-23 YoY change Tax on added value (CVAE) (7) (7) - Current tax (17) (4) (13) Deferred tax (12) 40 (52) Total income tax (36) 29 (65) 39
Slide 40: Alternative performance indicators
Alternative performance indicators • • • • • • • 40
Slide 41: Thank you!
2023-2024 FULL-YEAR RESULTS eliorcroup eC