Elis reports – first quarter revenue growth & investor’s confidence

Elis, an international multi-service provider of textile, hygiene and facility services solutions across Europe and Latin America, recently announced that revenue for first 2019 quarter grew by 4.3%.

Xavier Martiré, CEO of Elis stated: “With organic revenue growth of +2.4% in Q1, Elis is starting the year with good momentum in most of its geographies. Our company continued the densification of its network in its existing geographies with small-size acquisitions in Sweden, Denmark, Spain and more recently in Russia. These acquisitions have almost no impact on the debt leverage because of their small size and the reasonable multiples paid.”

Furthermore, Martiré stated that “in Q1 Elis refinanced part of its debt: The €800mn bond with a 3% coupon and a 2022 maturity has been refinanced with a €500mn bond with a 1.75% coupon and 2024 maturity and a €300mn USPP financing with a 2.70% coupon and a 2029 maturity, leading to a lower average cost of debt and extended maturities. This refinancing has been very well received by the markets and illustrates the confidence of investors in the group’s strategy and business model.”