A gradual recovery paced by the evolving health situation
Elior Group (Euronext Paris – ISIN: FR 0011950732), one of the world’s leading operators in catering and support services, announces its revenues for the first nine months of fiscal 2020-2021, ended June 30, 2021.
“Our organic growth rate this third quarter is particularly high because of a very favorable base effect. Last year, our activity was hit hard between April and June 2020 by the strict lockdowns and school closures during the pandemic’s first wave. This year the gradual lifting of restrictions during the same period created a more favorable operating environment, even though volumes are still notably below pre-Covid levels.
The new variants are spreading rapidly as we enter the summer vacation period, which is traditionally the low season for our businesses. Faced with this new wave, public health restrictions will determine the recovery conditions in September and autumn.
Against this backdrop, we continue our group’s transformation unabated. We recently successfully completed our financing plan for a period of five years by extending our debt’s maturity and diversifying our funding sources. We are also launching a completely revamped corporate catering offering this autumn. We are making good on our commitment to nutritional quality and transparency by deploying NutriScore across the entire school market in France.
Even though the uncertainty caused by the pandemic continues to affect our sector, we are squarely focused on the future and confident that we can return to solid growth and, in the medium term, improve our pre-pandemic margins.”