Elior: net loss deepens in H1

(CercleFinance.com) - Elior Group has reported a net loss of 53 million for the first half of FY 2020-21, compared to a 17 million euro loss a year ago, with its adjusted EBITA margin that falling from +2.
1% to -1.3%, reflecting the continuing impact of the health crisis.

Revenue from continuing operations fell 24% to 1.87 billion euros, with an organic contraction of 22.3% and a currency effect of -1.7%, notably due to the dollar and the pound sterling.

"Considering the timelines announced for an easing of restrictions and our businesses' inherent seasonality, our performance in the second half will depend mainly on whether the conditions are in place for a recovery in September," the service and catering group said.

The market seems optimistic though - the Elior share is currently in pole position in Paris, up almost 4% in early trading.


Copyright (c) 2021 CercleFinance.com. All rights reserved.