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ELO (ELO) investor relations material

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ELO H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for ELO SA
H2 2024 earnings summary7 Mar, 2025

Executive summary

  • Revenue increased 1.6% to €32.3 billion in 2024, with 98% from retail and 2% from real estate.

  • EBITDA declined 16.9% to €1,224 million; net income was a loss of €1,220 million, mainly due to impairments and restructuring.

  • Major acquisitions included Casino stores in France and DIA in Portugal, expanding the retail footprint.

  • Significant restructuring in France, with a €250 million provision and a plan impacting up to 2,400 jobs.

  • New Immo Holding continued asset rotation, including disposals in Russia, Portugal, and France.

Financial highlights

  • Gross margin rose 1.1% to €7,907 million, but margin rate slightly decreased to 24.5%.

  • Recurring operating income dropped to €22 million from €320 million in 2023.

  • Non-recurring expenses totaled €868 million, driven by goodwill impairment and restructuring.

  • Net financial debt was €2,921 million, representing 59% of equity and 2.4 years of EBITDA.

  • Equity (Group share) decreased to €4,778 million.

Outlook and guidance

  • Signs of recovery in retail in H2 2024, with 4.2% revenue growth at constant exchange rates.

  • Strategic focus on price repositioning, new sales plans, and operational efficiency in France.

  • New Immo Holding to continue dynamic asset management and site attractiveness initiatives.

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Frequently asked questions

ELO SA is a French holding company focused on retail and distribution, primarily through its investment in the Auchan Group, a multinational retail conglomerate. ELO oversees and supports various operations related to Auchan’s supermarkets, hypermarkets, and e-commerce activities across Europe, Asia, and Africa. The company is involved in the development and management of retail infrastructure, emphasizing sustainable practices, digital innovation, and quality consumer experiences. ELO SA also invests in real estate projects associated with retail sites to enhance the accessibility and appeal of its retail environments. ELO SA is headquartered in Croix, France, and its shares are listed on Euronext Paris.