It is far from being a tumble, but by losing up to 1.5%, Elior signs one of the biggest drops on Tuesday on the Paris Stock Exchange, where the Cac 40 has just signed a new record. In the absence of new strict restrictions, complete lockdown, to deal with the Omicron variant, whether in France or in the other major world economies, the extreme weakness of trade volumes works in favor of the rise in indices. fellows.
That said, the obligation of teleworking “Three days minimum per week” when it is possible, announced last night by French Prime Minister Jean Castex, weighs on the Elior share price. The collective catering group, which manages canteens in companies in particular, suffers the full brunt of the desertion of workstations, and this more than its competitor Sodexo (-0.2%) which, at least, can rely on resilient activities (restaurant vouchers, gift vouchers or even the management of living quarters on construction sites in particular) to resist the Omicron wave.
-15.8% of turnover
Recently, Elior had indicated that it did not expect to return to its pre-crisis levels before 2024. At the end of the 2020-2021 fiscal year, which ended at the end of September, the company still lost 5.3% of turnover. like-for-like business. Adjusted operating results (Ebita) and net were shown in losses.
The “Business” segment suffered particularly, with a 15.8% drop in revenue. Between July and September, activity turned to 75% of the level of the last quarter of 2018-2019. The “Health” division (catering in hospitals) fell by 3.5%, but “Education” regained 7.7%.
For the new fiscal year, Elior said it hoped, before the introduction of an additional teleworking day, internal growth of 18% for an EBITDA margin adjusted from 2% to 2.5%.
The discovery of the Omicron variant at the end of November largely helped push Elio shares down last month (-17%). Since the start of the year, they have gained slightly by just over 6%, after plunging 57% last year.