France · Delayed Price · Currency is EUR Elis SA Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 4.9% year-over-year to EUR 2,457.1 million, with organic growth at 3.2% and adjusted EBITDA margin stable at 34.7%. Despite macro headwinds and a temporary free cash flow dip, guidance for 2026 is confirmed, supported by record new contracts, strong M&A, and robust capital allocation.
Fiscal Year 2025
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2025 saw strong revenue and margin growth, robust free cash flow, and continued deleveraging, supported by disciplined pricing, operational efficiency, and targeted M&A. 2026 guidance anticipates further margin expansion, high single-digit EPS growth, and increased shareholder returns, including a larger buyback program.
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Revenue grew 4.3% to €2.34 billion in H1 2025, with 3.5% organic growth and margin expansion, driven by strong commercial momentum and pricing. Latin America faced margin pressure from inflation and FX, but stabilization is expected in H2. Share buybacks and bolt-on M&A supported growth.
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The strategy is anchored on sustainability, operational excellence, and geographic expansion, with strong financial discipline and innovation driving growth. Guidance targets 4% organic and 5%-6% total growth, supported by bolt-on acquisitions and new business lines like cleanroom and pest control. Margin, cash flow, and shareholder returns are set to improve further.
Fiscal Year 2024
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Record 2024 results with revenue up 6.1% and EBITDA margin at 35.2%. Strong organic growth, margin expansion in key geographies, and robust free cash flow enabled a new €150 million share buyback and higher dividend. 2025 guidance calls for modest growth and continued margin improvement.
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Management reaffirmed its disciplined approach to potential U.S. expansion, emphasizing strict financial criteria and leveraging its proven integration track record. Vestis is seen as a strategic entry point, but discussions remain at a very early stage.
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H1 2024 saw record revenue, margin, and cash flow, driven by strong workwear demand, pricing discipline, and successful M&A. Upgraded full-year guidance reflects robust commercial momentum, while inflation and political risks are well managed.