(AOF) – Elis achieved a “record” 2023 turnover of 4.3 billion euros, up 12.8% compared to 2022. The French market posted organic growth of 10.7%, at 1.31 billion euros. While the group’s annual accounts will be closed on March 6, before the market closes, the specialist in rental and maintenance solutions for textile items announces for 2023 an adjusted EBITDA margin of 34.2%, an increase of around 120 basis points and free cash flow slightly above 300 million euros.
“Elis should post better financial performance than expected. The good 2023 operational performance, the result of the group’s strategy, should allow us to publish 2023 results higher than the objectives announced in October” commented Xavier Martiré, chairman of the management board of Elis.
The 2023 free cash flow was expected to exceed 260 million euros and the adjusted EBITDA margin to increase by 70 basis points.
Before adding: “We started 2024 with confidence: visibility is good, both from the point of view of turnover (prices, activity forecasts) and the cost base (salary negotiations, purchasing contracts ). 2024 should therefore be a new year of profitable growth for Elis.
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