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Elis (ELIS) investor relations material
Elis H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
H1 2025 revenue reached €2.34 billion, up 4.3% year-over-year, with 3.5% organic growth and 1.8% from acquisitions.
Adjusted EBITDA rose 5.1% to €813.8 million, margin up 30 bps to 34.7%.
Net income increased 28.6% to €152.5 million; headline net income per share up 3% to €0.85 (fully diluted).
Free cash flow at €31 million, leverage ratio down to 1.92x, in line with full-year targets.
Strong commercial momentum, especially in Workwear, Hospitality, France, and Southern Europe, with positive pricing offsetting inflation.
Financial highlights
Adjusted EBIT up 3% to €353.8 million; margin at 15.1% (-20 bps year-over-year).
Headline net income rose 2.6% to €213.2 million; EPS (fully diluted, adjusted) up 3% to €0.85.
Free cash flow at €31 million, impacted by seasonal working capital but aligned with full-year trajectory.
Net financial debt at €3.21 billion as of June 2025; leverage ratio 1.92x, down from 2.06x a year earlier.
€1.1 billion available liquidity at June 30, 2025; DSO improved to 54 days.
Outlook and guidance
Organic revenue growth for 2025 expected slightly below 4%, reflecting a -0.3% calendar impact.
Modest improvements anticipated in adjusted EBITDA margin, adjusted EBIT margin, EPS, and free cash flow.
Financial leverage ratio expected to decrease by 0.1x by year-end 2025.
All 2025 financial objectives reaffirmed; medium-term targets: 5–6% annual revenue growth, 20 bps annual EBITDA margin improvement, €1.5 billion cumulative free cash flow by 2028.
No direct negative impact anticipated from new US tariffs.
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