(AOF) – Elior Group announces the appointment of Philippe Ronceau as Director of Investor Relations as of March 15, 2023. He will report to Esther Gaide, Group Chief Financial Officer. Philippe Ronceau has more than twenty years of experience in the financial markets. He began his career in London in 1998 as a sell-side analyst covering the leisure and business services sectors at Morgan Stanley and then successively at BNP Paribas, Lehman Brothers, Credit Suisse and MF Global.
In 2021, he joined Havas Paris where he advised Elior Group on financial communication and investor relations.
Philippe Ronceau holds a Masters in Management Sciences from Paris-Dauphine University and a Specialized Masters in Finance from ESCP.
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Key points
– Collective catering group, number 1 in France, Spain and Italy, number 5 in the United Kingdom and the United States, and created in 1991;
– Turnover of €4.3 billion, diversified up to 13% in services and 36% achieved up to 36% from companies, 33% in education then 31% in health and social services;
– Business model based on 5 levers: reinforcement of the most profitable activities, autonomy of field teams, systematization of loyalty, cost optimization and cash management;
– From April-May 2023, capital held 48.4% by Derichebourg, 5.42% by Emesa and 5.25% by the Strategic Participations Fund, Daniel Derichebourg taking over as Chief Executive Officer and Chairman of the Board of administration of 12 members;
– Tense financial situation with a debt leverage of 8.3 at September 30, 2022, end of the financial year, but in the process of strong recovery after the acquisition, in the spring of 2023, of the multiservices branch of Dericherbourg, financed in shares Elior.
Challenges
– Growth strategy:
– focused on the integration of the multi-service branch of Derichebourg, within the services division,
– transforming the profile of the group, increasing the share of services in revenues to 31%,
– targeting at least €30m of recurring synergies by the end of 2026;
– Innovation strategy:
– internally: Life4 innovation platform pooling employee innovations and Food Academy in Italy and Nutrition Research LAB in France,
– for customers: fight against undernutrition, deployment of the nutri-score and flexibility of offers,
– support and acquisitions of start-ups;
– Environmental strategy aiming for 2025:
– 12% reduction in CO2 emissions per meal (vs 2020),
– 30% reduction in food waste per meal,
– 80% renewable electricity;
– Growth of the healthcare hotel industry in the United States, with the integration of LiveWell with Traditions.
Challenges
– 3 growth catalysts to watch: penetration rate in SMEs (+21% in 2021), professional mobility solutions, and customer retention rate (93.2%);
– Strong impact of inflation on operating margins and strong sensitivity to Covid recoveries combated by the recovery plan:
– global and systematic program of renegotiation of tariff schedules,
– co-construction with customers of more sustainable offers,
– strengthening the control of operational costs,
– systematic review of the contract portfolio (exit of Preferred Meals in the United States);
– Persistent risk of a capital increase, despite the reduction in debt leverage expected from the takeover, financed by shares, of Derichebourg’s service activities;
– 2022-23 objective: revenue growth of +8%, operating margin between 1.5 and 2% and capital expenditure between 1.5 and 1.7% of revenue.