Elior Group (Euronext Paris – ISIN: FR 0011950732), one of the world’s leading operators in catering and support services, announces its results for the first half of fiscal year 2021-2022, ended March 31, 2022.
Bernard Gault, CEO Elior Group, commented: “Despite Omicron-related disruptions, business has bounced back, driven by strong sales momentum. However, rising inflation has put pressure on our operating margins, which were already hit by the pandemic. We are therefore deploying a bold, four-pronged margin recovery plan that will see us (1) systematically renegotiate all our price tariffs worldwide, (2) work with our clients to create new, more sustainable product and service offerings, (3) systematically review our contract portfolio, and (4) exercise even tighter control of operating costs. Based on this, the Board of Directors has approved the decision to exit Preferred Meals in the USA, as its industrial activity is too far removed from our core business and weighs heavily on the Group’s finances. After two difficult years, I would like to salute the efforts and unfailing determination of our teams. I firmly believe that together we will restore the Group’s operating profitability and achieve the ambitions we have set for 2024.”