The news came from the company's Paris head office, and listed financial aims as: increasing organic growth over 3% per annum on average; securing an adjusted EBITA growth double that of its organic growth; and having an increasing operating free cash flow of €750m.
Group chief executive Philippe Guillemot said: “Elior Group operates in industries with strong fundamentals. It has solid positions and strong assets in contract catering, services and concession catering, in all the geographies where we operate. This is the result of our history, one of continuous successes, rapid growth and constant innovation.
“Throughout the group, employees are committed and proud to fulfil their mission. Lately the group had lost its recipe for success. However, today with Elior Group 2021 we are turning the page and opening a new chapter.
“Over the next three years we will consolidate our existing competitive positions while focusing on expanding our fast-growing businesses, particularly in the USA where we see substantial opportunities ahead.”
Elior has set six initiatives it will use to achieve its goals:
- People – focusing on health and safety, talent management and incentives in order to foster employee engagement
- Clients – used to develop, expand and retain the client base
- Menu-to-sourcing value chain – menu enhancement and solidifying the supply chain
- Efficiency of on-site organisation – four efficiency enablers including calibration models with productivity standards per site, forecast accuracy and productivity, best practice sharing and systems integration
- IT and digital – information security, differentiating from technological innovation competition and digital
- Finance – performance supervision processes and monitoring free cash flow generation more successfully
Guillemot added: “Three years is long enough to make a lasting impact and modify our trajectory. Three years is short enough to keep our teams focused and motivated. We now have the right organisation and team.
“We are implementing the right processes to enhance our performance and achieve our objectives. We will strive to significantly increase free cash flow generation, a paramount priority, and we will allocate resources with discipline. Elior Group 2021 is the result of a collective work; it has been built by and with the teams. The roadmap we will present today is both ambitious and deliverable.”