Elior Reports Significant Growth in First-Half Financial Results

Elior Group announced impressive gains in its financial results for the first half of the fiscal year 2023-24, with a significant rise in adjusted EBITA and continued deleveraging. The figures revealed an overall year-on-year revenue growth of 26.0%, reaching €3,123 million, compared to €2,478 million in the same period last year.

The company's Contract Catering sector reported a 5.9% organic growth and an Adjusted EBITA increase of 42 euros, marking a shift from an EBITA margin of 2.3% to 4.0%. Multiservices also saw a substantial turnaround, with adjusted EBITA rising to 16 million euros from a previous loss of 2 million euros, pushing the margin from -0.8% to 1.9%.

Geographically, the largest revenue generator was France, contributing €1,607 million, followed by Europe (including the UK) and the rest of the world. Notably, the Multiservices sub-sector displayed the highest growth rate in revenue, soaring by 172.9% owing to a significant change in scope of consolidation.