(Reuters) – Elis on Wednesday raised its full-year outlook for organic revenue growth and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin, citing strong first-half results.
“The good results of the first half allow us to revise upwards our organic growth and EBITDA margin targets for the year 2024,” declared Xavier Martiré, Chairman of the Executive Board, in a press release.
Elis is now targeting organic growth of 5.2% and 5.5%, compared to 5% previously, and an adjusted EBITDA margin of between 35.2% and 35.5%, compared to 35% previously.
The French industrial laundry specialist recorded organic growth of 5.5% in its turnover in the first half, to 2.25 billion euros, driven by “numerous commercial successes, an improvement in the customer retention rate and good price dynamics”.
The group also posted an increase in its adjusted EBITDA margin of 120 basis points, thanks to productivity gains in all its geographies and better energy purchasing conditions.
(Written by Pauline Foret, edited by Kate Entringer)
Copyright © 2024 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
