Elior Group (Euronext Paris – ISIN: FR 0011950732), one of the world leaders in catering and multiservices publishes its unaudited results for the 2022-2023 fiscal year ended September 30, 2023.
Daniel Derichebourg, Chairman and Chief Executive Officer of Elior Group, comments:
"Despite unprecedented inflationary pressures, the 2022-23 fiscal year marks the return to operational profitability, a prelude to a more pronounced recovery. In my few months at the helm of the Group, I implemented major structural transformations aimed at making it stronger and more agile. These include important managerial changes in France and Italy, a new organisation for all our activities in France, and a restructuring of corporate support functions. I was also directly involved in resolving profitability issues with certain strategic contracts. Having already exceeded the initial objective of cost synergies, we are now increasing the overall synergies target from 30 M€ to 56 M€ by 2026. My main priority today is the deleveraging of the Group. Intense efforts deployed to achieve this as soon as possible, at a time when inflationary pressures are easing, give me full confidence in our ability to return to the path of sufficiently and sustainably profitable growth. With an optimistic outlook for the future of the Group, I thank all our stakeholders, internal and external, for their support and trust".