Elis - 2019 full-year revenue
Record revenue in 2019, up +4.7% to
€3,282mn Very good 2019 organic growth of
+3.3%
2019 organic performance driven by the
effect of price increases related to inflation, good commercial
momentum and an improved retention rate of our clients in most
countries
- Very satisfactory performance in France (+3.2%): Good
commercial dynamic and improvement of the renewal rate of our
contracts
- Good momentum in Central Europe (+2.8%): Strong growth in
Poland and in the Netherlands, more moderate growth in Germany
- Acceleration in Scandinavia & Eastern Europe (+3.7%),
driven by a favorable dynamic in Flat linen in Sweden and
Denmark
- Continuation of the operational turnaround in the UK &
Ireland (-1.2%): Price increase in Hospitality and improved
retention rate in Workwear
- Sustained growth in Southern Europe (+7.4%): Successful price
increases in Spain and ongoing opening of the Workwear market in
the region
- Latin America remains very well-oriented (+7.1%) driven by the
development of outsourcing in Brazil across all our segments
The 2019 currency impact is -0.3% and
the acquisition effect is +1.8%
Saint Cloud, January 30, 2020 –
Elis, an international multi-service provider, offering textile,
hygiene and facility services solutions across 28 countries in
Europe and Latin America, today announces its full-year 2019
revenue. These figures are unaudited.
Commenting on the full-year revenue,
Xavier Martiré, CEO of Elis, said:
“In 2019, Elis’ revenue reached a new record at
€3.3bn, increasing by approximately +5%. The Group demonstrated its
ability to increase prices in a context of cost inflation, while
improving its commercial activity and its client retention rate. As
a result, organic growth reached +3.3% over the year, one of the
highest levels ever for the Group.
We continue to open many markets to the
rental-cleaning activity, especially in the Workwear segment in
Latin America, Southern Europe and Eastern Europe.
In the United Kingdom we pursue the industrial
and commercial turnaround, with a marked improvement in operational
indicators, even if the region’s organic revenue remains slightly
down.
As is our practice, we will provide our outlook
for the current year when we release our 2019 annual results on
March 4th.”
The figures disclosed in the present
press release exclude the Clinical Solutions activity for both 2018
and 2019. In H1 2018 the Group initiated the sale process for its
Clinical Solutions (operating only in the United Kingdom) and sold
the activity in two parts in August and October 2019.
2019 reported revenue
(EUR million) |
H1 |
2019H2 |
FY |
H1 |
2018H2 |
FY |
H1 |
Var.H2 |
FY |
France |
518.9 |
546.8 |
1,065.7 |
505.9 |
526.9 |
1,032.8 |
+2.6% |
+3.8% |
+3.2% |
Central Europe |
357.9 |
373.1 |
731.0 |
328.7 |
353.4 |
682.1 |
+8.9% |
+5.6% |
+7.2% |
Scandinavia & East. Eur. |
249.8 |
257.2 |
507.0 |
240.8 |
243.1 |
483.8 |
+3.7% |
+5.8% |
+4.8% |
United Kingdom & Ireland |
195.0 |
201.1 |
396.1 |
196.6 |
201.1 |
397.8 |
-0.8% |
0.0% |
-0.4% |
Southern Europe |
142.0 |
156.1 |
298.2 |
126.9 |
141.1 |
268.0 |
+11.9% |
+10.6% |
+11.2% |
Latin America |
129.5 |
133.0 |
262.5 |
125.5 |
122.2 |
247.7 |
+3.2% |
+8.8% |
+6.0% |
Others |
10.6 |
10.8 |
21.4 |
9.6 |
11.4 |
21.0 |
+11.0% |
-6.0% |
+1.7% |
Total |
1,603.7 |
1,678.1 |
3,281.8 |
1,533.9 |
1,599.3 |
3,133.3 |
+4.5% |
+4.9% |
+4.7% |
« Others » includes Manufacturing
Entities and Holdings.Percentage change calculations are based on
actual figures.
2019 reported organic revenue
growth
|
H1 organic growth |
H2 organic growth |
2019 organic growth |
France |
+2.6% |
+3.8% |
+3.2% |
Central Europe |
+2.2% |
+3.3% |
+2.8% |
Scandinavia & East. Eur. |
+3.9% |
+3.4% |
+3.7% |
United Kingdom & Ireland |
-1.4% |
-0.9% |
-1.2% |
Southern Europe |
+7.4% |
+7.4% |
+7.4% |
Latin America |
+6.4% |
+8.0% |
+7.1% |
Others |
+10.7% |
-6.5% |
+1.3% |
Total |
+3.0% |
+3.6% |
+3.3% |
« Others » includes Manufacturing
Entities and Holdings.Percentage change calculations are based on
actual figures.
2019 Q4 revenue
(EUR million) |
2019 |
2018 |
Reported growth |
Organic growth |
France |
262.6 |
254.9 |
+3.0% |
+3.0% |
Central Europe |
185.0 |
176.6 |
+4.8% |
+2.3% |
Scandinavia & East. Eur. |
133.0 |
125.7 |
+5.8% |
+3.1% |
United Kingdom & Ireland |
100.2 |
98.9 |
+1.4% |
-1.3% |
Southern Europe |
70.4 |
64.6 |
+9.0% |
+6.3% |
Latin America |
64.9 |
62.9 |
+3.1% |
+6.8% |
Others |
6.1 |
5.2 |
+17.9% |
+16.5% |
Total |
822.1 |
788.7 |
+4.2% |
+3.0% |
« Others » includes Manufacturing
Entities and Holdings.Percentage change calculations are based on
actual figures.
France
In 2019, organic growth in France was +3.2%. All
our markets were well-oriented thanks to an improvement in the
retention rate of our clients, whose activity was good.
In Q4, we posted organic growth of +3.0%, with a
limited impact of the strikes on our Hospitality activity in
December.
Central Europe
In 2019, organic growth was +2.8%, mainly driven
by the very good momentum in Poland and the Netherlands. Germany
posted organic growth above +1.5%, driven by the Workwear segment,
despite a slight slowdown of the German economy.
In Q4, organic growth was up +2.3%, broadly in
line with the full-year trends.
Scandinavia & Eastern
Europe
In 2019, the good commercial momentum continued
in Scandinavia & Eastern Europe, where organic growth was close
to +3.7%. This good performance is mainly explained by solid growth
in Flat linen in Sweden and Denmark and by the expansion of
Workwear in Eastern Europe. The foreign exchange impact for the
year was -1.8%.
In Q4, organic growth was up +3.1%, with a
slightly tougher comparable base.
United Kingdom &
Ireland
In 2019, organic revenue of United Kingdom &
Ireland decreased slightly, by -1.2%, notably due to the drop in
the activity of a significant client in the retail sector.
Nevertheless, operational indicators improved not only in
Hospitality, with a focus on price increases, but also in Workwear,
where efforts are underway to improve the client retention rate.
In Q4, the zone’s organic growth was down -1.3%,
affected by the above-mentioned reduction of activity of a
client.
Southern Europe
In 2019, revenue in Southern Europe was up
+11.2%, with organic growth of +7.4%. This very good performance is
driven by the price increase effect in Spain in a context of a
strong rise in labor costs, the very good commercial momentum in
the Workwear segment in the region and the good activity in Flat
linen segment in Portugal.
In Q4 organic growth in the region was +6.3%,
with a calendar effect of c. -0.5% in the quarter.
Latin America
In 2019, organic revenue in Latin America grew
by +7.1%, driven by the development of outsourcing in Healthcare
and Workwear, especially in Brazil, while maintaining a limited
client churn rate. The impact of acquisitions was +1.7% and
the foreign exchange impact was -2.9%.
In Q4, the region’s organic growth was +6.8%,
driven by Brazil and Colombia. Chile posted a slight decline due to
the very tense social context since last October.
Financial definitions
Organic growth in the Group’s revenue is
calculated excluding (i) the impacts of changes in the scope of
consolidation of “major acquisitions” and “major disposals” (as
defined in the Document de Base) in each of the periods under
comparison, as well as (ii) the impact of exchange rate
fluctuations.
Geographical breakdown
- France
- Central Europe: Germany, Netherlands, Switzerland, Poland,
Belgium, Austria, Czech Republic, Hungary, Slovakia,
Luxembourg
- Scandinavia & Eastern Europe: Sweden, Denmark, Norway,
Finland, Latvia, Estonia, Lithuania, Russia
- UK & Ireland
- Southern Europe: Spain & Andorra, Portugal, Italy
- Latin America: Brazil, Chile, Colombia
Full-year 2019 results presentation (in
English)
Date:Wednesday 4 March 2020 - 8:30am London
time (9:30am Paris time)
Venue:Sofitel London St James, 6 Waterloo Pl,
St. James’s, London, SW1Y4AN
Investors wishing to attend the presentation are invited
to contact us by e-mail
at:investors@elis.com
Contacts
Nicolas Buron, Investor Relations Director -
Phone: +33 175 499 830 - nicolas.buron@elis.com
Audrey Bourgeois, Investor Relations - Phone: +
33 175 499 625 - audrey.bourgeois@elis.com
- Elis - 2019 annual revenue (press release)
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