Elior : Targets and turnaround outlook reassuring for 2024
>FY 23 release ahead of forecast, still plenty of potential to better operating metrics - Before trading yesterday, Elior reported better-than-expected FY 23 results at the EBIT level, with a margin of 1.1% (vs a consensus of 1.0%). EPS was impacted by a sharp uptick in financial expense, despite the group activating tax loss carryforwards in France to the tune of € 40m. We note still significant potential for operational improvement, notably for the retention rate (9...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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