(BFM Stock Exchange) – The industrial laundry specialist renews all of his objectives for 2025, after having unveiled a quarterly activity at the start of the year marked by an unfavorable calendar effect.

Elis is lacking in the check in the first trimester. Over the first three months of 2025, the industrial laundry specialist revealed a turnover up 3.6% in data published at 1.132 billion euros.

This level of income turns out to be “completely online with expectations”, notes TP ICAP Midcap which was tapped on a turnover of 1.134 billion euros when the consensus quoted by the design office aimed at 1.132 billion euros.

In organic data, or excluding changes in foreign exchange and perimeter, the increase in Elis revenues is 2.5%, after 5% over the last three months of 2024.

From one quarter to the other, the laundry specialist therefore slows the pace on a comparable basis.

The company has also released organic growth lower than consensus, which tapped on 2.6%, according to Deutsche Bank.

A negative calendar effect

Elis points out that its organic growth at the start of the year has been penalized by a negative calendar effect of approximately 1.5 percentage points. The group explains this impact by a less billing day in February and a positioning of Easter week in April this year.

As for good points, Elis adds that the price dynamics have been favorable to her all of her markets, which allowed her to compensate for the inflation of the cost base.

In detail, the group explains that its “hotel and restaurant” activity was “generally well oriented”, despite the sullen weather in March and the positioning of Easter week in April.

“We note that the majority of group regions have performed very well beyond our expectations such as Latin America (+6.5% in organic data) where Elis increased by+9% in Brazil, southern Europe (+4.7%) and UK & Ireland (2.3%) thanks to good activity in hotels and restaurants and externalization gains in workwear (professional clothing) Midcap.

Elis adds that the contribution of external growth operations in the first quarter is 2.1 percentage points. Recall that the industrial laundry specialist fully plays the map of small targeted acquisitions, called “bolt-on” on European soil. The group has proceeded in recent months to the acquisition of Carsan in Spain, Ernst in Germany or Wäscherei Bodensee in Switzerland.

Confirmed 2025 perspectives

The management also returned to current trade tensions and indicated that it anticipated “no direct negative impact linked to the establishment of customs duties by the United States”. However, it recognizes that this context created “a more wait -and -see approach to certain customers” and accentuates “the volatility of certain currencies”.

Elis specifies that her geographic and sectoral diversification allows her to “largely” alleviate the repercussions of these disturbances. This authorizes him to confirm all of his financial objectives in 2025.

The group therefore renews its target from organic growth in annual turnover expected slightly less than 4%. Elis recalls that this objective incorporates a negative calendar effect of around -0.3%.

Regarding the other lines of the income statement, Elis always aims for a “slight growth” of her adjusted exploitation margin (EBITDA), her adjusted operational margin (EBIT), as well as her current net result by action (on a diluted basis) and her free cash-flow. The group still has not quantified these objectives.

On the Paris Stock Exchange, Elis’ announcements receive an icy reception, with a title that fell from 3.8% to 22.22 euros around 12:00 p.m.