Elis H1 2020 – Positive Perspective in Spite of Pandemic Results

Elis – a major provider of textile, hygiene and facility services solutions in Europe and Latin America – has recently announced its results over the first half year of 2020. The company not only reported “very good H1 2020 results despite the Covid-19 crisis with EBITDA*, but also margin improvement, and a strongly positive free cash-flow”. The conclusion was that the results are a “confirmation of the Group’s great resilience”.

Mr. Xavier Martiré, the company’s CEO stated that the confinement measures implemented in most countries in which Elis operates obviously had an impact on activity, especially in hospitality. As a result, Elis’ organic revenue was down c. 15% in H1 with Q2 down -27% and a low point reached in April. In this context, as soon as the first confinement measures were implemented in Europe, the group adjusted its operational and managerial structures in order to preserve its margins and cash flow. More than 100 plants were shut down during this period and production teams have been cut on a case by case basis.