Elior : A compelling takeover
Unsurprisingly, FY 2022-23 was a year of mixed fortunes for Elior with – thankfully – a sharp upturn in contract catering (+12% organic growth) but also with a spate of profit warnings during the year and, ultimately, profitability well below what it should normally be (EBITA margin at just 1.1%). What's more, Elior is still heavily indebted, with a leverage ratio of well over 5x, even though its financial position has moved away from the "red line" thanks to the DMS integration ...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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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