France · Delayed Price · Currency is EUR Elis SA Earnings Call Transcripts
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 €2.34bn in H1 2025, with 3.5% organic growth and margin expansion. Strong commercial momentum, pricing, and operational gains offset inflation, while bolt-on M&A and disciplined capital allocation supported growth. 2025 guidance and medium-term targets reaffirmed.
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The group’s strategy is anchored in sustainability, operational excellence, and geographic expansion, with a focus on replicating its mature model in new markets. Strong financial performance, disciplined bolt-on acquisitions, and high-margin business lines like clean room and pest control support a 5%-6% annual growth target and robust free cash flow, with increased shareholder returns planned.
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.