Atalian - comment

Q2 results from Atalian were weaker than expected due to continued difficulties passing through higher costs in the French business. Full-year guidance has been reduced, EBITDA is now expected in the €80m - €100m range (vs €100m+), and CFFO will be -€10m to €0m vs €20m - €30m. The company expects to recover these costs in 2025, but with inflation here to stay, a better system is needed in French contracts. There will be a fuller update in November with the Q3 results. We will update, after the call today at 1400 BST, but the immediate read is negative for the bonds.

https://atalian.com/wp-content/uploads/2024/08/2024-08-29-Atalian-Q2-2024-Press-Release.pdf