Elis announces Additional Measures to Cope with COVID-19 Effects

Following earlier measures to cope with the negative effects of Covid-19, Elis recently announced some additional precautions to safeguard its financial position. Although the company states to have a solid liquidity and no major debt maturity before 2023, its Management Board has decided to further strengthen the Group’s liquidity.

Since the earlier announcement on March 17, the company has  seen a further decrease in volumes. The decrease was anticipated and occurs in connection with the implementation of containment measures in an increasing number of countries in which it operates. Further observations show that in hospitality, clients’ activity has nearly stopped. Apart from that its industry and trade & services end-markets are currently recording a c. 40% revenue decrease. However, this line of business shows a varying number of clients operating in industries such as pharmaceuticals, food-processing, energy, services for local communities, water treatment and food retail. Finally, in healthcare, client activity seems to be normal.

The company states that “Elis is focused on managing the current situation and its immediate impacts in a rigorous way, while keeping at the heart of its operational concerns both the health of its employees and its clients’ satisfaction.”