(Boursier.com) — Despite a 2% rebound on Friday, Elior wipes the gadin of the week on the Parisian market with a share down by more than 15% after a quarterly point below analysts’ expectations. The collective catering group under contract recorded revenue of €1.225 billion in the first quarter of its 2022-2023 financial year, representing organic growth of 11.7% (12.4% expected), still benefiting from an effect Covid catch-up (Omicron). Available liquidity reached 307 ME at the end of December, against 399 ME at the end of September, a level “in line” with the expectations of management, which reiterated its expectations for the 2022-2023 financial year, namely: organic growth of at least 8%, an adjusted EBITA margin of between 1.5% and 2%, and capital expenditure representing between 1.5% and 1.7% of revenue.
“We don’t expect any significant FY2022-23 consensus adjustments following this release, but the Q1 ‘miss’ and cash burn could put the stock under pressure after the recent very strong rally. (+85% over 3 months), “said Oddo BHF on Thursday.
This Friday, Bernstein reiterated its ‘market performance’ opinion while reducing its target from 4.2 to 3.6 euros while Deutsche Bank (‘hold’) adjusted the target from 4.2 to 4.1 euros . For IT ICAP Midcap, this publication came out in line with its expectations while the broker was not expecting any good surprises whether on the impact of inflation or commercial dynamics… Always cautious on the file, the broker remains to ‘keep’, considering that it is still too early to position oneself.
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