Elis: a robust third quarter
(CercleFinance.com) - Sales growth of industrial launderer Elis accelerated slightly in Q3, under the combined effects of organic growth and the integration of Berendsen.
The group inched up its annual forecasts for its EBITDA margin.
On a pro-forma basis (excluding the Berendsen acquisition), the launderer's organic sales growth, which was 2.1% in both Q1 and Q2, accelerated to 2.4% in Q3, in particular thanks to Northern Europe and Latin America. This means +2.2% growth over nine months.
In published terms, and thanks to Berendsen, sales over the first nine months of the soared almost 64%, to 2.3 billion euros, and were up almost 39% in Q3.
Finally, Elis has adjusted its annual outlook: previously, the group was looking for FY organic growth of 2.5% to 3%: the group is now targeting pro-forma organic growth of 2.5% in Q4, with annual sales of over 3.1 billion euros (excluding Clinical Solutions).
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The group inched up its annual forecasts for its EBITDA margin.
On a pro-forma basis (excluding the Berendsen acquisition), the launderer's organic sales growth, which was 2.1% in both Q1 and Q2, accelerated to 2.4% in Q3, in particular thanks to Northern Europe and Latin America. This means +2.2% growth over nine months.
In published terms, and thanks to Berendsen, sales over the first nine months of the soared almost 64%, to 2.3 billion euros, and were up almost 39% in Q3.
Finally, Elis has adjusted its annual outlook: previously, the group was looking for FY organic growth of 2.5% to 3%: the group is now targeting pro-forma organic growth of 2.5% in Q4, with annual sales of over 3.1 billion euros (excluding Clinical Solutions).
Copyright (c) 2018 CercleFinance.com. All rights reserved.