As a major shareholder of Elior Group since it was founded in 1991, in 2016-2017 Bim continued to support its growth strategy.
At September 30, 2017, Bim held a 27.31% interest in Elior Group.
Elior Group’s revenue advanced by a strong 8.9% in fiscal 2016-2017 to over €6.4 billion, propelled by further acquisitions in the United States, which became the group’s second-largest revenue contributor. However, earnings for the year were slightly weighed down by the combination of an unfavorable calendar effect for contract catering and a sharp increase in the costs incurred for the group’s IT and digital transformation process. Consequently, adjusted profit for the period contracted 2.9% year on year.
Elior Group’s new Chief Executive Officer – Philippe Guillemot – has been tasked with pursuing the business development and transformation plan that has already been launched. In particular, he will keep a careful eye on the action plans put in place to raise the group's financial performance, while ensuring that the group retains the entrepreneurial mindset that has driven its growth over the last 25 years.
Fiscal 2017-2018 will be a transition year for Elior Group before the implementation of the new multi-year strategic plan that Philippe Guillemot intends to submit to the Board of Directors for its approval at the end of Spring 2018. For 2017-2018, the group has set itself the target of achieving organic revenue growth of at least 3% with stable operating margins and a slight increase in adjusted profit for the period. At the same time, it intends to pursue its acquisition-led growth.
Philippe Guillemot, Elior Group’s Chief Executive Officer, stated:
"I am counting on our ability to combine best-in-class service delivery with our well-proven entrepreneurial mindset to make Elior Group the catering industry's benchmark player, with even stronger credentials than it has today".