Dynamic business development, increased retention and solid liquidity despite tougher health measures impact on revenues
Elior Group (Euronext Paris – ISIN: FR 0011950732), one of the world’s leading operators in catering and support services, published its unaudited first quarter revenues ended December 31, 2020 for the fiscal year 2020-21.
Elior Group CEO, Philippe Guillemot, said:
“In an unstable environment that has marked our daily life for almost a year now, adaptation, agility and initiative set the rhythm for our organization. Faced with this situation, we remain more than ever vigilant, mobilized and forward-looking. Thus, we maintain a rigorous attention to cash management and continue to apply strict cost discipline. Similarly, our teams in the field maintain an outstanding commitment and continue to diligently manage and renegotiate our contracts, thereby further strengthening ties with our clients. Meanwhile, we are now entering the next phase of our transformation by accelerating the deployment of new innovative catering offers for our clients in anticipation of changes in our business and new expectations of our guests.
The first quarter of our fiscal year 2020-21, beginning in early October, remained difficult for the contract catering sector as it faced new waves of the epidemic in many countries. This situation led to a decline in our activity compared to the fourth quarter of the previous fiscal year that accelerated in December. Even though the vaccination campaigns recently launched throughout the world are a source of hope, the economic recovery remains dependent upon the magnitude of possible new contamination waves and the associated health measures to contain their spread.
Nevertheless, Elior is now structured to cope with the constrained world in which we live. Our ability to fully benefit from the anticipated rebound after the crisis and the additional revenues generated by our new offerings will enable us to return to robust growth and improve our pre-crisis margins.”