April 17 (Reuters) -

France's Emeis, formerly known as Orpea, cut its 2024 core earnings target on Wednesday, citing a slower than expected recovery of its French retirement home business.

The care home operator expects earnings before interest, tax, depreciation, amortisation, and restructuring costs (EBITDAR) of between 800 million and 835 million euros ($850 million and $887 million) for the financial year, down from the 891 million euros it had forecast in November.

"In a context where the recovery of our activities in France is taking a little longer than expected - particularly in the retirement home sector - and is less favourable than anticipated, we are very strict about controlling our investments," Chief Financial Officer Laurent Lemaire told reporters in a call.

In 2023, Emeis' EBITDAR fell more than 10% to 696 million euros due to high inflation and lower-than-expected occupancy rate at its nursing homes in France, it said in a statement.

This is the group's first earnings report since it finalised the restructuring of its debt and rebranded as Emeis in an apparent effort to move on from the scandals and financial troubles that plagued it in the past two years.

The group has been in turmoil since the beginning of 2022, when allegations of mistreatment in its French care homes sent shockwaves throughout France and caused much soul-searching over how the elderly are treated in nursing homes.

Emeis has rejected the allegations of widespread abuse.

Last year, it underwent a financial restructuring in which investors led by France's Caisse des dépôts et consignations (CDC) took control of it, making France's government its main shareholder. ($1 = 0.9415 euros) (Reporting by Stéphanie Hamel in Gdansk; Editing by Milla Nissi and Louise Heavens)