(Boursier.com) — The 2023 turnover ofElis reached 4.309 billion euros, driven by organic growth of +11.8%.
The operational performance achieved in 2023 highlights 2023 results estimated to be higher than the objectives previously communicated… Indeed, the Group’s pricing discipline, coupled with the continued optimization of logistics and industrial processes, makes it possible to estimate an operating margin Adjusted Ebitda 2023 to c. 34.2%, an increase of c. +120bp, i.e. c. 215 ME more than in 2022.
2023 adjusted EBIT, 2023 current net income and 2023 current net income per share are also expected to be above the targets communicated in October, thanks to the strong increase in Ebitda.
“Despite an unfavorable calendar effect, good year-end collections allow us to estimate a 2023 free cash flow slightly higher than 300 ME, an increase of c. 75 ME compared to 2022”.
Taking into account the above, debt leverage as of December 31, 2023 is expected to be around 2x.
“In 2023, Elis reached a record level of 2023 turnover of more than €4.3 billion, growing by almost 13% compared to 2022, and should post better financial performance than expected,” comments Xavier Martiré, Chairman of the Management Board of Elis, who adds: “With inflation still high in Europe, growth has largely benefited from the price adjustments put in place during 2022 and in 2023 to compensate for the increase in our cost base; the effect of these price adjustments is approximately +9% for the year 2023.”
The Group’s results will be communicated on March 7, before market trading.
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