Core Insights - The company achieved record full-year revenue of nearly €4.8 billion in 2025, reflecting a growth of +4.9% compared to 2024 and +5.5% at constant exchange rates [1][5] - The estimated results for 2025 are in line with the objectives communicated earlier [4][10] Revenue Breakdown - Reported Group revenue reached €4,796.8 million in 2025, with organic growth of +3.8%, a scope effect of +1.8%, and a currency impact of -0.7% [2][12] - The full-year revenue growth breakdown by region includes: - France: €1,399.4 million, +3.3% growth [12][15] - Central Europe: €1,234.1 million, +8.5% growth [12][17] - Scandinavia & Eastern Europe: €639.8 million, +3.3% growth [12][19] - UK & Ireland: €579.5 million, +1.7% growth [12][20] - Latin America: €457.7 million, +0.5% growth [12][22] - Southern Europe: €450.7 million, +11.2% growth [12][24] - Others: €35.6 million, +16.0% growth [12][26] Quarterly Performance - In Q4 2025, the Group reported revenue of €1,205.7 million, reflecting a growth of +5.6% [13][14] - Q4 organic growth was +4.0%, with notable performances in various regions: - France: +2.5% [15][16] - Central Europe: +4.2% [18] - Latin America: +9.7% [23] - Southern Europe: +7.5% [25] Strategic Initiatives - The company actively pursued a targeted acquisition strategy, completing nearly 10 transactions primarily in the flat linen market, which contributed approximately €80 million to 2025 revenue [3][9] - The company plans to continue this acquisition strategy into 2026, with several additional small and mid-sized acquisitions under review [9] Market Dynamics - Despite a slowdown in some European sectors, the company maintained strong commercial momentum, particularly in workwear and healthcare markets in Latin America [6][8] - The hospitality sector experienced a significant rebound during the summer and year-end periods, particularly in France, Spain, and Portugal [7][8] Financial Metrics - The adjusted EBITDA margin for 2025 is expected to be around 35.4%, an improvement of approximately 20 basis points compared to 2024 [10] - The company anticipates providing detailed financial guidance for 2026 during the release of the 2025 annual results [10]

Core Viewpoint - Elis has announced a share capital decrease through the cancellation of treasury shares, which is part of its ongoing strategy to optimize capital structure and enhance shareholder value [1]. Group 1: Share Capital Decrease - On December 23, 2025, the Management Board decided to reduce Elis's share capital by cancelling 4,705,107 treasury shares, which represents 1.98% of the total share capital [2]. - The treasury shares cancelled were repurchased under the Group's share buyback program, which was authorized by shareholders in previous meetings [3]. Group 2: New Share Capital Structure - Following the cancellation, Elis's new share capital is €232,848,588, divided into 232,848,588 shares with a par value of one euro each [4]. - After the capital decrease, Elis retains 239,759 treasury shares, which represent 0.10% of the share capital [4]. Group 3: Company Overview - Elis is a leader in circular services, providing rental-maintenance solutions optimized by traceability technologies across 31 countries [5]. - The company focuses on meeting customer needs related to protection, hygiene, and well-being while supporting environmental objectives [5].

Core Insights - Elis, a global leader in circular services, has announced the acquisition of 100% of Muller in France, which is expected to enhance its service network and operational capabilities [1] Group 1: Acquisition Details - The acquisition of Muller is part of Elis's strategy to expand its network in France, aiming to strengthen its market position [1] - This move is anticipated to provide Elis with additional resources and expertise in the circular services sector [1] Group 2: Strategic Implications - The acquisition aligns with Elis's commitment to sustainability and circular economy principles, enhancing its service offerings [1] - By integrating Muller into its operations, Elis aims to improve efficiency and customer service, potentially leading to increased market share [1]

Core Insights - The company reported a revenue increase of 5.3% in Q3 2025, reflecting strong market vitality, particularly in the Hospitality sector during the summer [1][6][10] - The company confirmed its full-year 2025 financial objectives, demonstrating resilience amid European economic and political uncertainties [2][3][7] Revenue Performance - Q3 2025 organic revenue growth was 4.2%, supported by a solid summer season in Hospitality in France and Southern Europe [8][11] - Revenue breakdown by region showed significant growth: - France: +4.2% organic growth - Central Europe: +7.5% reported growth, with +2.7% organic growth - Scandinavia & Eastern Europe: +3.5% reported growth, with +2.3% organic growth - UK & Ireland: +3.0% organic growth, reported growth of +1.1% - Latin America: +3.9% reported growth, with +8.8% organic growth - Southern Europe: +12.6% reported growth, with +6.9% organic growth [10][11][18][19] Market Dynamics - The company experienced robust activity in Hospitality and sustained demand in workwear, with a diverse client portfolio helping to mitigate slowdowns in certain European sectors [6][8][18] - In Latin America, the expansion of outsourcing and price adjustments due to labor cost inflation contributed to strong performance [6][18] Strategic Initiatives - The company is actively pursuing a targeted acquisition strategy, contributing 1.7% to Q3 reported revenue, with several comparable acquisitions currently under consideration [7][8] - A share buyback program of 150 million euros is underway, with approximately 130 million euros already repurchased [8] Financial Outlook - Full-year organic revenue growth is expected to be slightly below 4%, impacted by a negative calendar effect of around -0.3% [8] - Adjusted EBITDA margin, adjusted EBIT margin, headline net income per share, and free cash flow are all anticipated to be slightly higher than in 2024 [8]

Core Viewpoint - Elis has successfully priced a €350 million issuance of senior unsecured notes under its EMTN Programme, reflecting strong investor confidence in the company's business model and future prospects [2][3]. Group 1: Financial Details - The notes have a maturity of 6 years and carry a fixed annual coupon of 3.375% [2]. - The net proceeds from this issuance will primarily be used to refinance existing notes amounting to €350 million that are due on February 15, 2026 [3]. Group 2: Market Reception - The transaction received an extremely positive reception, indicated by strong investor demand and tight pricing, showcasing confidence in the resilience of Elis's business model [3]. Group 3: Strategic Context - This issuance is part of Elis's active refinancing strategy and aligns with the company's cash allocation policy announced in March 2025 [3]. Group 4: Underwriting Syndicate - The bond placement was managed by a syndicate of nine banks, including Banco Bilbao Vizcaya Argentaria, Crédit Agricole CIB, and HSBC among others [4]. Group 5: Company Overview - Elis is recognized as a leader in circular services, utilizing a rental-maintenance model enhanced by traceability technologies to meet customer needs in protection, hygiene, and well-being while supporting environmental objectives [5].

Core Viewpoint - Elis has demonstrated strong financial performance in H1 2025, achieving profitable growth despite a challenging macroeconomic environment in Europe, and has confirmed all full-year financial objectives for 2025 [2][5][11]. Financial Performance - H1 2025 revenue reached €2,343.1 million, reflecting a 4.3% increase, with organic growth of approximately 4% after adjusting for a negative calendar effect [7][9]. - Adjusted EBITDA rose by 5.1% to €813.8 million, with an adjusted EBITDA margin improvement of 30 basis points to 34.7% [7][11]. - Net income increased by 28.6% to €152.5 million, while headline net income was up 2.6% to €213.2 million, with headline net income per share rising by 3.0% to €0.85 [7][38]. Growth Strategy - Approximately 70% of Elis' revenue is less exposed to economic cycles, allowing the company to continue executing its growth strategy amid economic slowdowns [4][11]. - The company has maintained strong commercial momentum, signing numerous new contracts driven by increased outsourcing and service expansion [10][11]. - Recent acquisitions in Spain, Germany, and Switzerland contributed 1.8% to reported revenue growth in H1 2025 [7][11]. Regional Performance - Revenue growth varied by region, with Southern Europe showing a 9.5% increase, Central Europe at 8.8%, and Latin America experiencing a reported decline of 5.9% due to currency fluctuations [13][25][28]. - In France, revenue grew by 3.1%, supported by solid commercial activity and a rebound in the hospitality sector [19][20]. - The UK & Ireland region saw a 4.0% revenue increase, while Scandinavia & Eastern Europe reported a 2.6% rise [24][22]. Operational Efficiency - The company achieved further productivity gains through the optimization of industrial processes and improved energy purchasing conditions [7][11]. - The adjusted EBITDA margin in Central Europe improved by 100 basis points to 32.3%, driven by better energy purchasing conditions and operational improvements [21]. Cash Flow and Financial Health - Free cash flow for H1 2025 was €31.0 million, aligning with the full-year objective [44]. - The financial leverage ratio decreased to 1.92x as of June 30, 2025, down from 2.06x a year earlier, indicating improved financial health [45]. Corporate Social Responsibility (CSR) - Elis reported a 2.7% improvement in energy efficiency in its European laundries compared to H1 2024, reflecting ongoing CSR commitments [7][49]. - The company aligns 69% of its revenue with the transition to a circular economy, highlighting the sustainability of its business model [51].

Group 1 - Bpifrance Investissement has resigned from the Supervisory Board of Elis, effective June 5, 2025, after being a member since January 9, 2023 [1][2] - The resignation follows the sale of 6,900,000 Elis shares announced on June 3, 2025, and aligns with the governance agreement between Bpifrance Investissement and Elis [2] - Thierry Morin, Chairman of the Supervisory Board, expressed gratitude to Bpifrance Investissement and Paul-Philippe Bernier for their contributions [2] Group 2 - Elis is a leader in circular services, utilizing a rental-maintenance model enhanced by traceability technologies [3] - The company operates in 31 countries, addressing customer needs related to protection, hygiene, and well-being while supporting environmental objectives [3] - Elis aims to create sustainable value for shareholders, customers, employees, and the environment through its operational expertise and profitable organic growth profile [3]

Core Viewpoint - Elis has reported a solid start to 2025, with Q1 revenue increasing by 3.6% to €1,131.9 million, despite facing a strong negative calendar effect of approximately -1.5% [2][5][9]. Financial Performance - Q1 2025 organic revenue growth was 2.5%, aligning with the projected yearly sequence [3][5]. - The revenue breakdown by region shows varied performance, with Central Europe achieving a notable 9.1% growth, driven by acquisitions and solid activity in Belgium and the Netherlands [12]. - Latin America experienced a revenue increase of 6.5%, although it faced a significant negative impact from local currency fluctuations, resulting in a -5.8% overall growth [16]. Strategic Initiatives - Elis continues its strategy of targeted bolt-on acquisitions, contributing to external growth of 2.1% in Q1, with three acquisitions in Spain, Germany, and Switzerland [4][7]. - The company is focusing on strengthening its network in the flat linen market, particularly in Hospitality and Healthcare sectors [7]. Market Dynamics - The company noted a slight drop in commercial momentum in some markets due to global instability and commercial tensions, but the overall performance remained resilient [8]. - Pricing adjustments implemented in 2025 have helped offset inflation in the cost base, contributing positively to quarterly performance [6]. Outlook - The company confirms its financial objectives for 2025, expecting full-year organic revenue growth slightly below 4%, with an adjusted EBITDA margin and adjusted EBIT margin anticipated to be slightly higher [4][9]. - The financial leverage ratio is expected to decline by approximately 0.1x by the end of 2025 compared to the end of 2024, in line with the cash allocation policy [8].