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Revenue at Elior up 3.9% to £5b

09 December 2016 by
Revenue at Elior up 3.9% to £5b

French foodservice company Elior has reported revenue growth of 3.9% to €5.9b (£5b) for the year to 30 September 2016.

EBITDA has also increased by 5.5% to €501m (£423m).

The company said that rise in figures could be attributed to organic growth of 1.4%, a 2.6% impact from acquisition-led growth and a negative 0.2% currency effect.

Retention rate for contract catering was 93% throughout the year, with some big wins including new business at Murrayfield Stadium in Edinburgh.

Philippe Salle, the Elior's chairman and chief executive said the company is ahead of its 2020 strategy to accelerate its growth.

"We achieved our financial objectives for 2015-2016, with organic growth of 3.1%, excluding the impact of voluntary contract exits, which mainly affected contract catering, and EBITDA margin up by 20 basis points without the dilutive effect of our most recent acquisition in the US."

Elior's objectives for the next financial year includes organic growth in at least 3%, excluding the impact of voluntary contract exits and an EBITDA increase of 20 to 30 basis points.

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