Slide 1: 2025 Full-year results
2025 Full -year results March 11, 2026
Slide 2: Disclaimer
Pelis Disclaimer This presentation may include data, information and statements relating to estimates, future events, trends, plans, expectations, objectives, outlook and other forward-looking statements relating to the Group’s future business, financial condition, results of operations, performance
Slide 3: Summary
2025 01 Business highlights 03 2025 CSR highlights 2025 2026 02 Financials 04 Outlook and capital allocation 05 Q&A Summary
Slide 4: Business highlights
2025 Business highlights Peli
Slide 5: 2025: Record financial performance and strong operational execution
2025: Record financial p erformance and strong o perational e xecution Continued commercial m omentum supported by Strong financial performance in 2025 best -in -class operational excellence Revenue up 4.9% to €4,796.8m Strong commercial momentum despite a +5.5% at constant FX challenging environmen
Slide 6: Organic growth and bolt-ons drive +5.5% revenue growth (constant FX)
Organic growth and bolt -ons drive +5.5% revenue growth (constant FX) 1 Strong commercial momentum, supported by the continued development of outsourcing and the roll - out of the Group’s services across all geographies -0.7% +1.8% Strong Hospitality performance during the summer 4,797 season and De
Slide 7: Five structural growth drivers underpin long-term expansion
Five structural growth drivers underpin long -term expansion 01 Rising hygiene 02 Demographic 03 Tourism 04 Customer 05 Sustainability and protection shifts professionalization standards Drives all our business Supports small business Underpins Demand for Creates business verticals and creates devel
Slide 8: Strong organic growth fundamentals amid a challenging European macro environment
Strong organic growth fundamentals amid a challenging European macro environment Strong momentum in workwear Progressive roll -out of Elis’ service continued, driven by accelerating offering to small clients as Group outsourcing trends in Southern density increases, with initiatives Europe and Latin
Slide 9: Elis has organic growth opportunities in all geographies
Elis has organic growth opportunities in all geographies Market potential
Slide 10: Disciplined, value-creating M&A execution
Disciplined, value -creating M&A execution November 2024 1 Revenue: €10m December 2024 2 Revenue: €19m January 2025 3 Revenue: €23m June 2025 4 Revenue: €13m 2 5 6 October 2025 7 5 7 3 Revenue: €13m November 2025 6 11 44 Revenue: €8m December 2025 7 Revenue: c. €7m M&A impact: +1.8% in 2025 (+0.6% c
Slide 11: Bolt-on M&A: €91m of annualized revenue acquired for €108m
Bolt -on M&A: €91m of annualized revenue acquired for €108m Consolidating market position where we Securing additional industrial capacity already operate 1 2 3 4 Launching a new service where not yet Acquiring client portfolio offered by Elis Disciplined valuation framework Revenue EBITDA EBIT 1.0x
Slide 12: New CRM unlocking cross-selling and retention upside
New CRM unlocking cross -selling and retention upside Acquisition A CRM platform covering the entire customer lifecycle and all Elis offerings, designed to unlock cross -selling opportunities Identification of local organic growth opportunities, with Leads dynamic pricing aligned to market practices
Slide 13: Cleanroom and Pest Control: Strong progress
Cleanroom and Pest Control: Strong progress Cleanroom: Robust growth in a Pest Control: Operational strengthening and highly profitable business strategic expansion c. +8.5% revenue growth in 2025, at c. €275m c. +9% revenue growth in 2025, at €80m Entry into the Baltics with the launch of operation
Slide 14: France
France Resilient growth and commercial dynamism ≫ +3.3% organic growth driven by solid commercial momentum, particularly in workwear, despite a more difficult economic and political context ≫ Strong performance in Hospitality, supported by a favorable comparable base during the summer season and sol
Slide 15: Central Europe
Central Europe Revenue growth driven by organic momentum and accretive M&A ≫ Including +3.0% organic growth ≫ Belux and the Netherlands delivered solid performance ≫ More moderate growth in Germany due to a challenging Healthcare environment ≫ Recent acquisitions contributed +5.1% to the region’s an
Slide 16: Scandinavia & Eastern Europe
Scandinavia & Eastern Europe +1.9% organic growth across the region ≫ Strong outsourcing momentum in Finland, the Baltic States, and Norway ≫ Competitive environment in Denmark remained challenging but improved progressively during the year ≫ Favorable FX contribution of +1.4% to growth Adjusted EBI
Slide 17: UK & Ireland
UK & Ireland +2.6% organic growth despite macroeconomic headwinds ≫ Solid commercial momentum in flat linen and workwear (including Cleanroom) ≫ Pricing adjustments implemented to offset cost base inflation ≫ Mixed performance in Hospitality, with softer activity in the second and third quarters Adj
Slide 18: Latin America
Latin America +8.2% organic revenue growth in 2025 ≫ Solid commercial momentum supported by the continued development of outsourcing ≫ New Healthcare contract signings across the region, particularly in Mexico ≫ Pricing momentum remained favorable ≫ -8.0% FX impact in 2025 due to the depreciation of
Slide 19: Southern Europe
Southern Europe +11.2% revenue growth at constant FX, driven by strong activity levels, solid commercial momentum, and contributions from M&A ≫ Strong performance in Hospitality and continued expansion of workwear outsourcing ≫ Spain, Portugal, and Italy delivered comparable levels of organic growth
Slide 20: CMD in May 2025: A deep-dive into Elis strategy, positioning and medium-term ambitions
CMD in May 2025: A deep -dive into Elis strategy, positioning and medium -term ambitions 15 senior Elis leaders representing seven nationalities, reflecting the Group’s international expertise Deep dive into Elis’ industrial capabilities and commercial strengths Clear articulation of the Group’s pos
Slide 21: Elis headquarters relocated to La Défense in November 2025
Elis headquarters relocated to La Défense in November 2025 Bringing together all 700 headquarters employees to enhance collaboration, synergies, and efficiency 12 -year lease delivering substantial cost savings per sqm vs. previous headquarters Almost 17,000sqm completely renovated in 2020 in Paris’
Slide 22: Financials
“o— 2025 Financials
Slide 23: A highly diversified and well-balanced profile: Full-year 2025 revenue breakdown
A highly diversified and well -balanced profile Full -year 2025 revenue breakdown By activity By market By geography Latin America Southern Europe 10% 10% Hygiene & Industry Healthcare well -being UK & 25% 30% Ireland 16% 12% Flat linen France 29% 47% Scandinavia & Eastern Europe Trade Hospitality &
Slide 24: +5.5% revenue growth at constant FX, EBITDA margin up 20 bps at 35.4%
+5.5% revenue growth at constant FX, EBITDA margin up 20 bps at 35.4% 2025 revenue growth by geography +11.2% +11.2% +8.5% +8.1% +8.5% +4.9% +5.5% +3.3% +3.3% +3.3% +2.6% +1.9% +1.7% +0.5% France Central Europe Scandinavia & UK & Ireland Latin Southern Group Eastern Europe America Europe Reported at
Slide 25: Continuous improvement in profitability in 2025
Continuous improvement in profitability in 2025 (In €m) 2025 2024 1 % change 1 As a percentage of revenue, linen and industrial asset depreciation remained stable in 2025 vs. Revenue 4,796.8 4,573.7 +4.9% 2024. Right -of -use asset depreciation increased Adjusted EBITDA 1,700.1 1,609.8 +5.6% signifi
Slide 26: ROCE at 14.7%, up 20 bps year-on-year
ROCE at 14.7%, up 20 bps year -on -year Pre -tax ROCE 2018 -2025 14.5% 14.7% 13.9% 11.6% 9.5% 9.0% Covid years 8.4% 6.0% 2018 2019 2020 2021 2022 2023 2024 2025
Slide 27: 2025 fully diluted headline net income per share up 5.2%
2025 fully diluted headline net income per share up 5.2% (In €m) 2025 2024 1 % change Net income (loss) 366.6 337.7 +8.6% Amortization of intangible assets recognized in a business combination 85.7 85.0 Expenses related to share -based payments (IFRS 2) 45.9 31.4 Accretion expense linked to the earn
Slide 28: Fully diluted headline net income per share up 65% since 2019
Fully diluted headline net income per share up 65% since 2019 Fully diluted headline net income per share between 2019 and 2025 1.85 1.76 1.71 1.44 1.12 Covid years 0.95 0.62 2019 2020 2021 2022 2023 2024 2025
Slide 29: Further free cash flow improvement to €358.6m
Further free cash flow improvement to €358.6m (In €m) 2025 2024 1 Favorable linen price trends combined with Adjusted EBITDA 1,700.1 1,609.8 effective linen purchasing management Cancellation of capital gains/losses on disposal of fixed assets and 2.4 2.5 changes in provisions Non -recurring monetar
Slide 30: A well-diversified debt profile with staggered maturities
A well -diversified debt profile with staggered maturities Well -diversified financing Debt highlights 900 Euro bonds ≫ Successful issuance of a new €350m bond at 3.375% maturing in September 2031 USPP 1,600 Convertible bonds ≫ Early repayment of the €350m February 2026 maturity completed in Novembe
Slide 31: Financial leverage down 0.1x to 1.75, in line with our capital allocation policy
Financial leverage down 0.1x to 1.75, in line with our capital allocation policy Net debt and Net debt / Adjusted EBITDA ratio evolution between 2019 and 2025 In €m 3,500 3.03 3.41 3,400 2.96 3,300 2.46 3,200 2.04 3,100 1.85 1.75 3,000 2,900 2,800 2,700 2,600 2,500 Dec 2019 Dec 2020 Dec 2021 Dec 202
Slide 32: CSR highlights
03 2025 CSR highlights
Slide 33: 2025 roadmap: most targets met or significantly exceeded
2025 roadmap: most targets met or significantly exceeded 2025 Target 2025 Target CO 2 intensity (vs. 2010) Product reuse rate -20% -27% 18% 20% 4 Thermal energy intensity 1 Textile recycling -31% -35% 71.5% 80% Exemplary circularity 1 Responsible products: Water intensity to reduce our -49% -50% ran
Slide 34: Reducing CO2 emissions in line with our roadmap
Reducing CO 2 emissions in line with our roadmap Scope 1 & 2 Scope 3 2030 target vs 2019: The Group’s targets are aligned with the reduction reduction Paris Agreement goals of maintaining Emissions linked Emissions linked to purchased goods, temperature increase to energy fuel and energy related act
Slide 35: Elis circular business model recognized by EU Taxonomy
Elis circular business model recognized by EU Taxonomy 70% 11% Aligned turnover for Elis on Average of European company transition to circularity goal revenue aligned with Taxonomy in 2024 (European Commission, November 2025 – excludes companies reporting no eligibility)
Slide 36: Elis CSR Strategy 2030
Elis CSR Strategy 2030 An ambitious s trategy with nine new priority areas and dedicated 2030 targets ENVIRONMENT SOCIETY ENVIRONMENT OUR PEOPLE SOCIETY Build on circularity, operational Support our employee excellence, and partnerships to development and foster a safe Make a positive impact reduce
Slide 37: External recognition for a consistently strong CSR performance
External recognition for a consistently strong CSR performance A Low risk CCC AAA Severe risk Negligeable Elis makes CDP A -list for the second time A -list 23,000 companies 61/100 assessed, with 4% in A -list (average: 48) Elis among 56 French companies recognized EthiFinance ESG 80/100 score ratin
Slide 38: Outlook and capital allocation
04 2026 Outlook and capital allocation
Slide 39: The four pillars of Elis strategy
The four pillars of Elis strategy Development of sustainable services and promotion of the circular economy 01 02 Industrial & commercial excellence Network expansion 04 03 Consolidation of current positions
Slide 40: Resilient through cycles, consistent margin expansion
Resilient through cycles, consistent margin expansion Implementation of an energy hedging strategy EBITDA margin % Revenue in millions of euros Global Covid -19 Energy crisis Financial Crisis recession 5,000 35.4% 40% 35.2 % 33.8 % 34.5 % 34.2 % 4,500 32.7% 32.5% 32.3% 32.7% 33.6 % 33.0% 35% 32.2% 3
Slide 41: An active, layered energy hedging strategy in place since 2022
An active, layered energy hedging strategy in place since 2022 Energy volumes hedged (as of year N) ~100% hedged Each year, Elis hedges c. 1/3 of N+1, N+2 and N+3 volumes ~66% hedged This layered approach progressively builds coverage over time ~33% hedged Ensuring near -full coverage of energy cost
Slide 42: Energy-cost coverage over next two years
Energy -cost coverage over next two years Gas Electricity 2026F volumes hedged 93% 94% 2027F volumes hedged 85% 73% Energy costs expected at c. €190m in 2026 (below 2025 level s) Further reduction already secured for 2027
Slide 43: Middle East situation: no significant impact expected
Middle East situation: no significant impact expected No significant impact at this stage Hospitality clients indicate that booking levels for late March and April Activity remain very high Potential weakness in long -haul tourism would likely be offset by stronger domestic and intra -European trave
Slide 44: 2026 Outlook
2026 Outlook Growth slightly below 2025 levels Organic revenue growth reflecting softer Q4 2025 signings Slight expansion Adjusted EBITDA margin Adjusted EBIT margin reflecting continued productivity gains across all geographies High single -digit growth Fully diluted headline net income per share d
Slide 45: Reminder of our capital allocation framework
Reminder of our capital allocation framework Operational development Financial Shareholder discipline return s Pursuing bolt -on Maintaining investment Allocating remaining cash to acquisition strategy grade and further improve returns to shareholders deleveraging Regular dividend payment + €50m -€1
Slide 46: Step-up in shareholder returns in 2026
Step -up in shareholder returns in 2026 Cash dividend of 0.45 €150m share buyback 2025 euros per share program Potential exercise of early redemption on 2029 convertible bonds from October +7% 2026 onward >x3 €362m reduction in net debt (non -cash) Cash dividend of 0.48 Up to €500m share 2026 euros
Slide 47: Maintaining a disciplined balance sheet while returning capital to shareholders
Maintaining a disciplined balance sheet while returning capital to shareholders 2026 sources of cash 2026 uses of cash Refinancing of €300m bond Free cash flow Bolt -on M&A due May 2027 New plain -vanilla bond €0.48 dividend Up to €500m ( €500m / €600m) per share share buyback program Financial leve
Slide 48: Key takeaways: Resilient growth, margin expansion and cash-generation supporting enhanced shareholder returns
Key takeaways: Resilient growth, margin expansion and cash -generation supporting enhanced shareholder returns 01 02 03 04 Another year of Record financial Tangible progress Confident 2026 profitable growth performance, on ESG outlook and and disciplined margins commitments accelerated execution exp
Slide 49: Q&A
05 Q&A
Slide 50: Appendix: Restatement of 2024 figures
Appendix: Restatement of 2024 figures IFRS 3 “Business combinations” ▪ IFRS 3 requires previously published comparative periods to be retrospectively restated for business combinations (recognitio n o f the final fair value of the assets acquired and the liabilities and contingent liabilities assume
Slide 51: Appendix: Reconciliation between Net financial result and Net interest paid
Appendix: Reconciliation between Net financial result and Net interest paid P&L – Cash flow – (in €m) (in €m) Net financial income (expense) Net interest paid Financial debt interests (cash) (114.3) Financial debt interests (cash) (114.3) Investment interests received (cash) 17.5 Investment interest
Slide 52: Appendix: Financial definitions
Appendix: Financial definitions ▪ Organic growth in the Group’s revenue is calculated excluding ( i) the impacts of changes in the scope of consolidation of “major acquisitions” and “major disposals” (as defined in the Universal Registration Document) in each of the periods under comparison, as well
Slide 53: ELIS SA Investor Relations contacts
ELIS SA Nicolas Buron Charline Lefaucheux Director of Investor Relations, Financing & Treasury Investor Relations Tower Kupka A Tel: +33 1 75 49 98 30 Tel: +33 1 75 49 98 15 18, rue Hoche Mob: +33 6 83 77 66 74 Mob: +33 7 65 18 45 65 92800 Puteaux Email: nicolas.buron@elis.com Email: charline.lefauc