French caterer Elior sees slowdown in second-half volumes

Elior SA

17/05/2023 06:30

May 17 (Reuters) - French catering group Elior
 ELIOR.PA  raised its annual sales target but lowered margin
forecast on Wednesday, as it expects slower volume growth amid
continued inflationary pressures.
    Europe's third biggest contract caterer sees organic revenue
growth of around 10% in the 2022-23 financial year, compared to
a previous forecast of at least 8% growth. However, it said the
margin for adjusted earnings before interest, taxes and
amortisation (EBITA) would be at the lower end of its initial
range of 1.5% to 2%.
    "Volume growth will slow after the post-Omicron catch-up
that took place in the first half," the group said in an
earnings statement.
    It added the inflationary pressures on food would ease a
little later than it had initially anticipated.

 (Reporting by Federica Mileo in Gdansk; Editing by Milla Nissi)
 ((federica.mileo@thomsonreuters.com))