FRANCE. Elior Group’s turnover for the first half of the 2003/04 financial year (up to 31 March 2004) amounted to €1,272.7 million (US$1,511 million). This represented a year-on-year rise of +3.8% on a published basis and +4.4% on a comparable basis (constant scope, exchange rates and working days).
The evolution of profits accelerated in the second quarter and the group’s first-half growth was especially strong in Latin America, partly due to the consolidation of the Argentinean airports caterer Foodport (through subsidiary company Ãreas).
Sales growth in the second quarter stood at +5.3% on a comparable basis, an improvement compared with the +3.6% growth recorded in the first quarter.
For the first half year turnover growth in concession catering (airports, motorways and downtown) amounted to +7.8% on a comparable basis. It stood at +11.4% in the second quarter, compared with +4.6% in Q1.
In airports, positive trends at the beginning of the financial year accelerated even more in the second quarter. For the first half of the 2003/04 financial year sales growth in airport concessions was +15.7% on a comparable basis. In France the Group has mainly benefited from the effect of new contracts (notably terminal 2E at Paris Charles de Gaulle Airport), while existing activities in several airports such as Nice, Bordeaux and Nantes have decreased, said Elior.
Strong growth in Spain and Latin America resulted from progress in passenger traffic, the opening of new airport terminals (with Grupo Aeroportuario Centro Norte in Mexico), new sales outlets, and the acquisition of Foodport.
In motorway concessions, first-half growth was +4.2% on a comparable basis. Activities in both France and Spain have benefited from an increase in road traffic and a successful strategy to develop this retail network (notably under the OuiShop brand).
Turnover in city sites increased by +5.2% on a comparable basis in the first half and by +9.1% in Q2. In this segment sales growth has been mainly sustained by contracts launched during the previous financial year, such as the new Paris Expo-Porte de Versailles exhibition centre and the Earl’s Court exhibition centre in London. Activities in France also benefited from a high number of tourist visitors to museums.
For the financial year as a whole, Elior confirmed its target of achieving growth in turnover on a comparable basis between +4% and +6%. A European leader in contracted foodservice and world number three in airport catering, Elior achieved a turnover of €2,422 million (US$2,875 million) in the 2002/03 financial year in 12 countries.
MORE ON ELIOR AND FOODPORT
Elior enters airport concession market in Italy – 12/03/04
Ãreas tops Dufry deal by acquiring Argentina’s Foodport from AA2000 owner Eurnekian – 08/03/04
