Elior plunges on the Paris stock exchange (-15%) but halves losses

New losses, new fall. A thud in Paris for Elior, which currently leaves 15.45% at EUR 3.47 on the ground. French mass catering group Elior more than halved its net loss in the 2023/2024 financial year, thanks mainly to 'sustained commercial development'. Elior, which is heavily in debt and in deficit as a result of the health crisis, was taken over a year and a half ago by the environmental services multinational Derichebourg, through a capital increase and the transfer to Elior of the activities of the Dms multi-service division.

From October 2023 to September 2024, the group posted a net loss of EUR 41 million, compared to EUR 93 million in the previous year. Sales reached EUR 6.05 billion, growing 15.9% year-on-year and 5.1% organically (excluding the effect of changes in the scope of consolidation and exchange rates). The group is targeting organic sales growth of between 3% and 5% for the period 2024/2025, and in a press release confirmed the target of cost synergies with Dms by 2026. "I am confident in our ability to continue on this path and maintain our growth. The results achieved at the beginning of the current financial year confirm this recovery,' said CEO Daniel Derichebourg.