Elior group: UBS still on hold
(CercleFinance.com) - UBS believes that the results for the first quarter of 2023 are broadly in line with estimates.
The company has also announced that it is seeking to expand its business in the United States and Europe.
"Elior reported revenues of E2,478m (vs. E2,444m expected by UBSe, consensus E2,440m) in the first half of 2023, with organic growth of 14.1% (UBSe 10.9%, consensus 12.3%), adjusted EBITA of E41m (UBSe E35m, consensus E42m), with a margin of 1.7%," says UBS.
Expecting weaker organic growth in H2 than in H1, Elior now expects organic revenue growth of around 10% for the current fiscal year and an adjusted EBITA margin towards the lower end of its initial target range of 1.5% to 2%.
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