Sodexo: First Half Fiscal 2017 in line with expectations, strong growth in operating profit

13.4.2017

At the Board of Directors' meeting chaired by Sophie Bellon on April 11, 2017, Chief Executive Officer Michel Landel presented the Group's performance for the First Half of Fiscal 2017, which ended on February 28, 2017.

  • Revenues up +0.4% and organic growth of +1.4% excluding Rugby World Cup
    and Energy & Resources
     
  • On-site Services organic growth was -0.3%, excluding the Rugby World Cup and the Energy & Resources decline, organic growth was +1.2%
    - Solid growth in Corporate North America, Health Care and developing markets.
    - This momentum was somewhat offset by a challenging environment in Europe due to continued weakness in Energy & Ressources activity in the North Sea and more generally, in France.
     
  • Benefits & Rewards Services organic growth reached +7.4%,
    - Strong activity in Europe, Asia and the USA
    - Latin America was more subdued.
     
  • Operating profit before exceptional expenses and currency effect was up 7.7% and the margin increased 50 basis points, at constant exchange rates
  • Net profit increased 14.7% before non-recurring items, at constant exchange rates
  • Fiscal 2017 guidance:
    - Revenue organic growth of around 2.5%
    - Growth in operating profit confirmed at between 8% and 9% (excluding currency effect and exceptional expenses linked to the Adaptation and Simplification program)
     
  • Medium-term objectives confirmed.

Read more about the results and download document >