Elis is a multi-service group in the rental, laundry and maintenance of textile, hygiene and well-being items in Europe and Latin America. Co. serves hundreds of thousands of customers of all sizes, belonging to various professional customer segments: hospitality, healthcare, industry, trade and services. Co. also has a manufacturing business carried out by two entities, Le Jacquard FranASSais and Kennedy Hygiene Products which together form one of the company's operating segments.
  • TickerA14M93
  • ISINFR0012435121
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance

Analysts

1 director bought

A director at Elis bought 6,450 shares at 15.499EUR and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Hela Zarrouk
  • Jean-François Granjon
  • Michael Foundoukidis
  • Nicolas Thorez
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/25/2019

...

Charles Lepetitpas ...
  • Christophe Chaput
  • Hela Zarrouk
  • Jean-François Granjon
  • Michael Foundoukidis
  • Nicolas Thorez
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 25/09/2019

...

Joan Sehim

Elis' 1h18 results were good, berendsen on track

Elis, the French linen services provider, reported good 1H18 results. Sales came in at €1,534m, up 2.1% organically, and EBITDA reached €469m (30.6% margin) against €435m (29.4%) last year. The home French market (33% of sales) is doing well, up 1.9% organically thanks to good activity in hospitality.

Remi Ramadou

Elis Sees Spain & LatAm boost 2H16, lower price pressure in France for 2017

Elis, the French linen services provider, published sound 2H16 results. Yoy sales were up 6.8% (+2.4% organically) to €783m and EBITDA gained 4.3% to €252m, or a 70 bps decline in margin to a still good 32.2%. This is in line with management’s forecast and the +6.9% growth in sales (+2.7% organically) seen during the entire year. Negatively, the performance was still hampered by a sluggish macro backdrop in France (57% of sales pro forma of the acquisitions), marked by low industrial activities (12%) and lower hotel occupancy (21%) following the Nice terrorist attack in July. Still, the countr...

Christophe Chaput ...
  • Hela Zarrouk

Elis : Group's financing ongoing with cash savings of € 13m on interest payments from 2020. Revised target price of € 21.5 vs € 21

>Group announced refinancing of bank debt maturing in 2022 - After market close yesterday, Elis issued a press release stating that it had carried out a dual tranche bond issue split between: 1/ a 5.5 year tranche (maturing April 2025) totalling € 500m with an annual coupon of 1%; 2/ an 8.5 year tranche (maturing April 2028) totalling € 350m with an annual coupon of 1.625%. This transaction is part of the group’s refinancing strategy aimed at staggering maturitie...

Christophe Chaput ...
  • Hela Zarrouk

Elis : Poursuite du refinancement du groupe avec un impact de 13 M€ sur les intérêts cash à partir de 2020. OC ajusté à 21.5 € vs 21 €

>Annonce d’un refinancement de la dette bancaire à échéance 2022 - Dans un communiqué publié après clôture hier, le groupe Elis annonce avoir réalisé une émission obligataire double tranche se répartissant entre : 1/ une tranche à 5,5 ans (maturité avril 2025) d’un montant de 500 M€ et offrant un coupon annuel de 1% ; 2/ une tranche à 8,5 ans (maturité avril 2028) d’un montant de 350 M€ et offrant un coupon annuel de 1,625%. Cette opération s’inscrit dans la cont...

Christophe Chaput ...
  • Hela Zarrouk

Elis : Road show feedback: good resilience in terms of profitability in 2019 and a strong improvement in FCF in 2020

>Feedback from the road show in Switzerland; good margin resilience - During a road show in Switzerland, the management (CEO, CFO, HIR, IR) gave a recap on first1ehalf earnings, which proved to be better than expected. There were no scoops but there were nevertheless some takeaways: Sales grew by +4.5% with +3% organic, a good performance with, moreover, a strong improvement in performances in Q2 relative to Q1 (Q1 organic growth: +2.4%; Q2 +3.5%), largely attribu...

Christophe Chaput ...
  • Hela Zarrouk

Elis : Feedback roadshow : bonne résistance de la profitabilité en 2019 et forte amélioration du FCF en 2020

>Feedback roadshow en Suisse : bonne résistance des marges - A l’occasion d’un roadshow en Suisse, le management (CEO ; CFO ; HIR ; IR) est revenu sur ses résultats du premier semestre qui sont ressortis supérieurs aux attentes. Pas de scoop mais nous retiendrons néanmoins que : L’activité s’est appréciée de 4.5% dont +3% en organique ce qui est une bonne performance avec, par ailleurs, une accélération faciale des performances au T2 par rapport au T1 (croissance...

Christophe Chaput ...
  • Hela Zarrouk

Elis : CA T1 proche des attentes ; +2.4% lfl

>Un CA T1 proche des attentes 776.7 M€ vs 779 M€e ; +2.4% lfl - Au titre de son premier trimestre, le groupe Elis publie un chiffre d’affaires en progression de +4.3% à 776.7 M€, soit un niveau proche de nos attentes (779.0 M€). La croissance organique ressort ainsi à +2.4% ce qui est satisfaisant (+2.3% estimés). Par zone géographique, nous retenons (à ptcc) : 1/ une hausse du CA de 2% en France (32% du CA) ce qui est une bonne performance dans un contexte de Gilets...

1 director bought

A director at Elis bought 6,450 shares at 15.499EUR and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members ...

Charles Lepetitpas ...
  • Christophe Chaput
  • Hela Zarrouk
  • Jean-François Granjon
  • Michael Foundoukidis
  • Nicolas Thorez
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/25/2019

...

Charles Lepetitpas ...
  • Christophe Chaput
  • Hela Zarrouk
  • Jean-François Granjon
  • Michael Foundoukidis
  • Nicolas Thorez
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 25/09/2019

...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Ayachi
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Nicolas David
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 09/06/2019

We estimate the increase in NAV at end-June at 17% (+€ 643m) to € 4.4bn (€ 176 per share). At 4 September, the increase is slightly lower (+15%). The discount has returned to a historically high level (46% at end-June, 49% at present). In the future, the valuation should continue to increase thanks to a twin source of leverage: the continued rise in NAV and the reduction of the discount. We confirm our Buy recommendation and have edged up our target price to € 134 vs € 132. - Cf. com...

Alfred Glaser ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fatma Ayachi
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jeremy Garnier
  • Nicolas David
  • Stephane Houri
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 06/09/2019

Nous estimons la progression de l’ANR à fin juin à 17% (+643 M€) à 4.4 Md€ (176 € par titre). Au 4 septembre, la progression est légèrement inférieure (+15%). La décote est revenue à un niveau historiquement élevé (46% à fin juin, 49% actuellement). A l’avenir, la valorisation devrait continuer de s’apprécier grâce à un double levier : poursuite de l’augmentation de l’ANR et réduction de la décote. Nous confirmons notre opinion Achat et revoyons en légère hausse notre OC à 134 € vs 13...

Baptiste Lebacq ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean Sassus
  • Jeremy Garnier
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 05/03/2019

...

ELIS with less fundamental stars is reduced to Neutral

ELIS (FR), a company active in the Business Support Services industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date September 24, 2019, the closing price was EUR 15.87 and its expected value was estimated at EUR 16....

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Delphine Chauvin

Elis : Deleveraging to speed up this year

Elis is an issuer firmly positioned at the upper end of the BB category, with a resilient business model and conservative financial management. We have a Stable Credit Opinion, as we do not anticipate further upgrades by rating agencies in the near term. - - >Support factors - - One of Europe’s biggest providers of rental and laundry services for textiles and work clothing, with leading positions in its core markets: number one in France (33% of sales), the UK & Irelan...

Delphine Chauvin

Elis : Un désendettement qui devrait s’accélérer cette année

Elis demeure un émetteur bien positionné dans le haut de la catégorie BB, avec un business model résilient et un management qui conserve une gestion financière prudente. Notre Avis Crédit est Stable, n’anticipant pas de nouveaux upgrades de la part des agences de rating pour l’instant. - >Facteurs de soutien - - L’un des plus grands acteurs en Europe des services de location-entretien de linge et vêtements de travail, avec des positions de leaders dans les principaux p...

Elis - Assemblée générale des actionnaires du 23 mai 2019

La présente résolution propose le renouvellement de 4 membres du conseil et la ratification d'un nouveau membre. Au regard de l'indépendance du conseil et du respect des recommandations de Proxinvest , l'ensemble de ces résolutions seront soutenues. Ensuite concernant les rémunérations, Proxinvest recommandera d'approuver les rémunérations 2018 et 2019 des membres du Directoire à l'exception de celles du Président du Directoire au regard des montants en jeu.

Jehanne Leroy

Proxy Report - 18/05/2018

Le principal sujet de cette assemblée générale est l'augmentation des rémunérations fixes des dirigeants pour 2018 (+45% pour le Président du Directoire). Cette augmentation du fixe, sans qu'aucune contrepartie comme l'abaissement du bonus maximum par exemple ou de la part long-terme ne soit mise en place, porte la rémunération totale maximum du Président du Directoire à 4,86 M€ pour 2018, soit plus de 240 SMICs, notre plafond socialement acceptable et plus de 219% de la médiane des rémunérations des dirigeants du SBF 120 (et plus de 118% de la médiane du CAC40). Cette politique de rémunérati...

Charles Pinel

Etude de l'AG du 31/08/2017

Une assemblée générale extraordinaire est convoquée dans le cadre du projet d'acquisition de la société Berendsen par Elis. L'offre est composée d’une part en numéraire et d’autre part en actions et consiste en l’acquisition de chaque action Berendsen contre la remise de 5,40 £ et 0,403 action nouvelle Elis. D'un point de vue stratégique, l'opération est pleinement justifiée et ses conséquences semblent acceptables en terme de gouvernance. Les conditions financières laissent apparaitre une prime très importante qui traduit les négociations avec Berendsen et qui semble être compensée par l'int...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Fed cut, now what? The Fed's 25 bps cut and Powell's evasiveness in committing to a new easing cycle was seen as more hawkish than expected. In our opinion Powell was essentially saying the Fed will act as appropriate moving forward, and we can't blame him considering this was largely an “insurance cut” as opposed to a rescue attempt to avoid recession, and we may or may not need additional insurance moving forward. Overall the weight of the evidence supports further consolidation - i.e., no breakouts for now - on the broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM), and considering...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Not too bullish, not too bearish Despite several indexes recently touching new 52+ week highs, broad global indexes (MSCI ACWI, ACWI ex-US, EAFE, and EM) remain near logical resistance, and indicators continue to send mixed signals. As a result we are hesitant to get too bullish or bearish. Instead we want to focus on Sector/Group/industry themes where we bottoming price and RS, or attractive pullback opportunities within established price and RS uptrends. Below we highlight some of these themes along with indicators that support our overall constructive -- yet tempered -- outlook. • Positiv...

Jérôme VINERIER

Analyse court terme - ELIS SA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 17,60 € prochainement. Le prochain objectif est à 16,04 €, puis 14,70 €. Le franchissement de 20,50 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - ELIS SA : The background trend is clearly bearish.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €17.60. The next target is at €16.04, then €14.70. Passing €20.50 would question the continuation of the fall.

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