Elior Renegotiated Its Leverage Ratio Level as of September 30, 2023

Rhea-AI Summary

Elior Group (Euronext: ELORY) announced a relaxation of its leverage ratio from 4.5x to 6x as of September 30, 2023. This adjustment comes from the company’s banks, indicating a favorable shift in its financial covenants. Founded in 1991, Elior Group is a leading player in contract catering and support services, generating €4.45 billion in revenue in fiscal 2020-2021 and employing 97,000 workers across its operations. The company is committed to innovation and social responsibility, being a member of the United Nations Global Compact since 2004.

Positive

• Leverage ratio relaxed from 4.5x to 6x, improving financial flexibility.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Elior Group (Paris:ELIOR) announces that it has obtained from its banks a relaxation of its leverage ratio (net debt/EBITDA) as of September 30, 2023: the covenant test is relaxed to 6x from 4.5x.

About Elior Group

Founded in 1991, Elior Group has grown into one of the world's leading operators in contract catering and support services and has become a benchmark player in the business & industry, education, health & welfare and leisure markets. With strong positions in 5 key countries, the Group generated €4.45 billion in revenue in fiscal 2020-2021. Our 97,000 employees feed over 3 million people on a daily basis in 20,250 restaurants on three continents and offer services at 2,400 sites in France.

Innovation and social responsibility are at the core of our business model. Elior Group has been a member of the United Nations Global Compact since 2004, reaching the GC Advanced Level in 2015.

For further information please visit our website http://www.eliorgroup.com or follow us on Twitter at: @Elior_Group

View source version on businesswire.com: https://www.businesswire.com/news/home/20221218005042/en/

Press contact

Antonia Krpina – antonia.krpina@eliorgroup.com / +33 (0)6 21 47 88 69

Investor Relations

Kimberly Stewart – kimberly.stewart@eliorgroup.com / +33 (0)1 71 06 70 13

Source: Elior Group

FAQ

What is the new leverage ratio for Elior Group as of September 30, 2023?

Elior Group's leverage ratio has been relaxed to 6x from 4.5x.

What does the relaxation of the leverage ratio mean for Elior Group?

The relaxation indicates improved financial flexibility for Elior Group.

When did Elior Group announce the change in its leverage ratio?

Elior Group announced the change in its leverage ratio on September 30, 2023.

What is Elior Group's stock symbol?

Elior Group's stock symbol is ELORY.

How much revenue did Elior Group generate in fiscal 2020-2021?

Elior Group generated €4.45 billion in revenue in fiscal 2020-2021.