Elior: nearly half a billion euro loss over FY 2019-20
(CercleFinance.com) - Catering group Elior has reported a net loss of 483 million euros for FY 2019-20, compared with a profit of 271 million euros a year ago, with an underlying operating loss of 89 million euros from continuing operations, compared with a corresponding profit of 160 million euros in 2018-19.
Revenue from continuing operations amounted to 3,967 million euros, down 19.4%, corresponding mainly to a fall in revenue relating to the Covid-19 crisis. Excluding exceptional impacts, organic growth was +1.7%.
At its next AGM Elior's Board of Directors will propose that no dividend payment is made for 2019-20, with the company adding that it will also maintain a strict discipline in terms of management of costs, cash and overheads.
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