Elior Group (Euronext Paris – ISIN: FR 0011950732), one of the world’s leading operators in catering and support services, announces its financial results for the first half of fiscal 2022-2023, ended March 31, 2023.
Elior Group Chairman and CEO Daniel Derichebourg commented:
“Since I took over as Chairman and CEO of the Group, I have been meeting with our teams, in France and abroad, with the aim of instilling a new momentum, bringing determination and confidence in the future. In a difficult market with many challenges, the integration of Derichebourg Multiservices represents a unique opportunity for Elior Group to accelerate its turnaround, notably through the realization of potential synergies. This acquisition allows the Group to enhance its positioning and to offer its clients a wider range of services. Elior Group is making progress, with a return to operating profitability leading to a strong improvement in free cash-flow. This results from major efforts to renegotiate our contracts in a highly inflationary context, the exit from Preferred Meals in the United States and the deployment of self-help measures in France. Our teams are rising to the challenge of these sometimes-difficult renegotiations, particularly in the public sector in France. I am convinced that we are on the right track and that we must now continue and intensify our efforts.”