Half Year 2024 Elis SA Earnings Call Transcript
Key Points
- Strong revenue growth of 6.9%, with 5.5% on an organic basis, reaching nearly EUR2.5 billion.
- EBITDA margin improved by 120 basis points to 34.5%, with EBITDA reaching EUR774 million.
- Free cash flow was robust at more than EUR55 million for the first half.
- Significant productivity gains due to better efficiency in plants and improved logistics.
- Upward revision of full-year outlook, with expectations of better-than-anticipated organic growth and EBITDA margin.
- Hospitality sector performance was mixed, with disappointing results in the UK and France due to bad weather and general elections.
- Impact of the Olympics in Paris led to a negative effect on activity, with several professional events rescheduled.
- Margins in Scandinavia and Eastern Europe decreased by 50 basis points due to pricing discipline challenges.
- Higher financial leverage ratio at 2.06 times, though on track to achieve full-year guidance of 1.8 times.
- Inflationary pressures, particularly in energy and salaries, continue to impact cost base despite hedging strategies.
Thank you. Good afternoon and welcome to H. one two or 24 Results Presentation. I am Sandy Macrae, CEO of Citi. I'm here in Paris with our CFO, will review after an overview of Eddie, I'll share highlights.
I will hand over to Louis, who will detail the results for the first half.
I will then come back to provide you with an update on our CSR journey in our strategy before updating you on our upward revision of our full year outlook. Finally, we will have a Q&A session to answer your question and asked, our core Nicola bureau will be available to answer any of your questions off-line.
Before we start, please take the time to read the disclaimer. So I'm very happy to report a very solid financial performance in the first half with a sound revenue growth, margin improvement, EBITDA margin and good cash generation. Top line momentum was strong, with growth of plus 6.9%, of which 5.5% on an organic basis to reach nearly EUR2.5 billion, a record number for
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