With solid fundamentals, Elior maintains a strong liquidity position through rigorous management and a flexible business model
Ahead of its full-year results announcement on November 25, 2020, Elior Group (Euronext Paris – ISIN: FR 0011950732) provides a business and Covid-19 impact update, and announces its preliminary, unaudited financial results for the year 2019-2020 prior to the application of IFRS 16.
Elior Group CEO, Philippe Guillemot, said: “Faced with exceptional circumstances, Elior swiftly executed a coordinated, Group-wide action plan. We managed to preserve a high level of liquidity because of our adaptability, flexible organization, and strict cost management. Thanks to our solid economic and financial fundamentals, expertise in hygiene and food safety, and teams dedicated to the well-being of our clients and guests, Elior is equipped to meet the challenges posed by the second Covid-19 wave. Business remains brisk in healthcare, education, and industry excluding white collar, both in contract catering and in services. We are also stepping up the roll-out of new food service offerings that are more flexible in terms of ‘when and where’—without compromising on quality—to better serve the needs of businesses in the white collar sector, which represented less than 20% of consolidated revenues in the previous fiscal year. Today, Elior is at the forefront of this historical sector transformation as a socially and environmentally responsible caterer.”