(MENAFN- GlobeNewsWire – Nasdaq) English French Revenue Expansion 20. 2% Organic Profit Expansion 12. 3%
Issy-les-Moulineaux, 6 January 2023
Sodexo (NYSE Euronext Paris FR 0000121220-OTC: SDXAY).
First Quarter Revenue of Monetary Year 2023
Commenting on the first quarter of 2023 performance, Sophie Bellon, President and CEO, said:
“As expected, we had a start to the year.
On-site services continued to take advantage of the post-Covid increase, with attendance on the rise, across geographies, workplaces, stadiums, conference centres and universities. Price increases have also boosted the source of revenue growth. As a result, on-site services activity has increased from the first quarter of fiscal year 2019-2019.
Organic Expansion of Benefits Services
During the quarter, we also achieved positive progression and strong cross-selling.
We are on the track. “
Highlights of the period
panorama
The smart start of fiscal 2023 is expected in the first quarter. As we move forward over the course of the year, the post-Covid acceleration will gradually slow down. From the current quarter, strong momentum from Benefits Services
The Group’s management for the year 2023 is maintained:
Benefits and Rewards Services’ guidance for fiscal year 2023 also holds:
Conference
Sodexo will hold a convention call at 9:00 a. m. m. (Paris time), 8:00 a. m. (London time) to comment on its first quarter 2023-2023 revenue. Those who wish to join can do so in the following lines:
The press release, presentation and webcast will be available on the Group’s online page, either in the “Latest News” segment and in the “Finance – Financial Results” segment.
Financial Calendar for Fiscal Year 2023
These dates are indicative and are subject to replace notice.
Regular updates can be found on our website calendar.
About Sodexo
Founded in Marseille in 1966 through Pierre Bellon, Sodexo is the world leader in quality of life services, something essential in individual and organizational performance. Operating in 53 countries, our 422,000 workers serve one hundred million consumers every day. The Sodexo Group stands out through its independence and founding circle of kinship ownership, its sustainable business style and its portfolio of activities including catering, facilities management services and employee benefit solutions. We will be offering flexible, multi-channel and quality gastronomic experiences. also design attractive and inclusive workplaces and shared spaces, manage and maintain our infrastructure in a safe and environmentally friendly way, offer personalized support to patients or students, or create systems that advertise worker engagement. From day one, Sodexo has focused on concrete daily movement and commuting objectives through its facilities in order to have a positive economic, social and environmental impact. affect over time. For us, expansion and social commitment go hand in hand. Creating a greater day to day for each and every one of us to build a greater life for all is our reason for being.
Sodexo belongs to the CAC Next 20, CAC four0 ESG, FTSE four Good and DJSI indices.
Key figures
Contacts
Activity for the first quarter of fiscal year 2023
First Quarter Revenue: Start the Year
Consolidated profit for the first quarter of fiscal year 2023-2023 reached €6. 3 billion, up 20. 2% year-on-year, adding a contribution from acquisitions and disposals of -1. 2% and a strong positive exchange rate effect of 9. 2%, reflecting the strength of the US dollar and the Brazilian real. Organic expansion remains solid at 12. 3%, with on-site services at 11. 9% and benefits services
On-site services
The profit of On-Site Services reached 6,100 million euros, 11. 9% more biologically. This expansion reflects the recovery of the Restoration, 19. 2% more. The biological expansion of Managed Services affected by the termination of the UK Test Centre contract was halted by 0. 5%. Facilities management services grew by almost 6%. Higher contributed 5-6% to the expansion of sales in the same site.
The net progression was positive in the quarter.
North America
Sales for the first quarter of fiscal 2023 in North America amounted to €3 billion, up 15. 7% organically.
Organic expansion of companies
Healthful
In Education, the expansion of biological utility was 9. 3%, driven specifically by the strong recovery in retail and occasional catering activities in universities due to lower staff shortages. of Covid-related loose food provided through local government and the most recent base effect of the loss of the Chicago Public Schools contract in 2021.
Europe ×
Sales in Europe amounted to €2 billion, up 5. 9% organically.
In business
Healthful
In Education, biological profit growth of 4. 7%, with higher costs and a strong recovery of assistance in France thanks to a calendar effect and a favorable comparison base impacted by the Delta variant last year.
Rest of the world
Revenue for the first quarter of the 2023-2023 fiscal year in the rest of the world amounted to €1. 1 billion, up 15. 3% organically.
Bussiness
healt
In Education, biological expansion 36. 8%, thanks to a very strong post-Covid increase in India and a modest expansion in China.
Breakdown by segment
Bussiness
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Education grew 8. 8%, driven by prices, much higher retail sales and the occasional catering at North American universities, with seats now filled and expansion at schools in Asia.
Benefits and Rewards Services
Billing for Benefit Services
*Includes incentive
Organic expansion of employee benefits of 22. 5% for a factor volume (4,100 million euros), 16. 4% more. Services diversification achieved a smart quarter with a biological expansion of 26. 9%, thanks to very strong public support activity driven through the Austrian Klimabonus single contract and the new social card in Romania.
In Europe, Asia and the US, the expansion of biological gains was 22. 7%. This functionality is consistently smart across the region due to accumulation in nominal price and net new business. Romania and Austria were particularly dynamic thanks to the new public benefit contracts with Klimabonus. checks (unique) and the social card.
In Latin America, biological expansion was 24. 5%, driven by a mix of strong new business, comparable nominal price increases and higher interest rates across the region.
Revenue increased 15. 8% thanks to strong expansion across all regions and businesses. Financial revenues more than doubled, and the effect of emerging rates on the euro’s dominance added to strong interest rates in Eastern Europe and Brazil, which had already impacted in the past. barracks.
Financial situation
There has been no significant substitution in the Group’s monetary position as of November 30, 2022 to that presented in the Universal Registration Document 2020-2022 filed with the AMF on November 9, 2022.
Key and uncertainties
There has been no replacement in the main hazards and uncertainties known to the Group in the Risk Factors segment of the Universal Registration Document for the financial year 2020-2022 filed with the AMF on November 9, 2022.
Exchange effects
Exchange rate fluctuations do not generate operational risks, since the subsidiary invoices its income and makes its expenses in the same currency. However, given the weight of the Profit activity
The positive exchange effect in the first quarter of fiscal 2023 of 9. 2% is the result of the strong accumulation of the US dollar, 16. 5%, and the Brazilian real, 20. 0%.
The currency effect is determined by applying last year’s average exchange rates to the existing year’s figures, except in hyperinflationary economies where all figures are converted to the last final rate for the two periods where they have an effect on is significant.
Definitions of choice functionality measures
Exchange rate effects on growth
The currency effect is determined by applying last year’s average exchange rates to the existing year’s figures, except in hyperinflationary economies where all figures are converted to the last final rate for the two periods where they have an effect on is significant.
Emission volume
The factor volume corresponds to the overall nominal value of service vouchers, cards and factoring dematerialized through Benefits
Organic farming
Organic expansion is the accumulation of earnings for a given era (the “Current Period”) compared to the earnings reported for the same era last year, calculated at the exchange rate of the previous year; and excluding the effect of acquisitions (or takeovers) and divestitures, as follows:
Underlying margin
Underlying operating margin is the underlying operating profit divided by revenue.
Underlying margin at constant rates
Underlying operating margin at consistent rates is the underlying operating source of revenue divided by revenue, calculated by converting fiscal year 2023 figures to fiscal year 2022 rates, for countries with hyperinflationary economies.
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