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 achieved through better efficiency in plants and improved logistics.
- Upward revision of full-year outlook due to strong performance and visibility for the second half.
- Hospitality sector faced challenges with disappointing occupancy rates in the UK and France due to bad weather and general elections.
- Impact of the Olympics on Paris resulted in several professional events being rescheduled, affecting activity.
- Inflationary pressures, particularly in energy and salaries, continue to impact the cost base.
- Margins in Scandinavia and Eastern Europe decreased, with specific challenges in Denmark due to pricing discipline.
- Higher financial costs due to new financing, impacting net income.
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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