(Boursier.com) — In the 1st quarter of 2022, the turnover ofElis grew by +26.5% to €832.8 million. The strong rebound in hotel activity continued with numerous commercial successes and good price momentum despite the negative impact of the Omicron variant, mainly in January in the wake of postponements of certain professional events.
Elis won numerous contracts in all of its end markets. In addition, in a context of high cost inflation, the price dynamic is favorable on all of its markets.
The 6 geographical areas of the Elis Group posted double-digit organic growth in the 1st quarter; organic growth was particularly strong in France (+30.8%), Southern Europe (+52.9%) and the United Kingdom & Ireland (+38.5%), areas in which the share of Hotels and restaurants is the highest.
Outlook
Elis’ confidence is boosted. Organic growth in annual revenue for 2022, expected between +13% and +15%, is driven by Elis’ stronger growth profile, the rebound in Hotels and Restaurants and price dynamics.
In a context of very high energy price inflation, the 2022 EBITDA margin is expected to be around 33.5%. EBIT 2022 is expected at around 500 ME, in line with the limited increase in depreciation and amortization.
The 2022 net current result per share is expected to increase by nearly 40%, to approximately 1.35 euros per share.
Free cash flow in 2022 (after payment of rents) is expected at around 200 ME due to the impact of the strong rebound in activity on working capital requirements and the increase in the amount of linen investments with inflation.
Financial debt leverage is expected at around 2.6x as of December 31, 2022 (3.0x as of December 31, 2021).