Report
Bruno de La Rochebrochard

ELIOR: H1 results: Below expectation waiting on the benefit from the refocused on contract catering | NEUTRAL | EUR14.5(+28%)

ELIOR - NEUTRAL | EUR14.5(+28%)
H1 results: Below expectation waiting on the benefit from the refocused on contract catering

H1 results substantially below expectation
FY guidance which sounds to us ambitious
Medium term ambition: wait and see
Underlying
Elior Group SA

Elior is a contracted food and support services group based in France. Co. provides personalized catering and service solutions to 3.7 million customers in the business & industry, education, healthcare, leisure and travel markets through 17,500 restaurants and points of sale in 13 countries. Co. offer solutions in two core segments, Contract Catering & Support Services (provides foodservice solutions to Business & Industry, Education and Healthcare as well as support services for facilities management and cleaning services) and Concession Catering & Travel Retail (food service solutions for motorways, airports, railway stations and leisure).

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Bruno de La Rochebrochard

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