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Organic growth of 8.4% for the first nine months of Fiscal 2008
7/2/2008
Sodexo announces consolidated revenue for the first nine months of Fiscal 2008, ended May 31, 2008.
- Food and Facilities Management Services, + 8.2%: solid growth in all segments and in all geographies:
- Sodexo takes advantage of its global leadership in Healthcare and
- Education and its international network
- Service Vouchers and Cards, + 17.4% : superior to market growth
Paris, July 2, 2008. SODEXO (NYSE Euronext Paris FR0000121220 - SW OTC: SDXAY), a world leader in Food and Facilities Management Services in most of its markets, today announced consolidated revenue for the first nine months of Fiscal 2008, ended May 31, 2008.
Revenue by activity and geographic area | ||||||
(in millions of euro) | 9 months Fiscal 2007 | 9 months Fiscal 2008 | Organic growth(1) | Currency impact(2) | Acquisitions | Total change |
Food and Facilities Management services | - | |||||
North America | 4,311 | 4,051 | +5.2% | -11.9% | +0.6% | -6.1% |
Continental Europe | 3,357 | 3,617 | +7.9% | 0% | -0.2% | +7.7% |
UK and Ireland | 1,064 | 1,141 | +16.8% | -9.6% | - | +7.2% |
Rest of the World | 1,175 | 1,251 | +11.8% | -4.2% | -1.1% | +6.5% |
Total | 9,907 | 10,060 | +8.2% | -6.7% | 0% | +1.5% |
Service Vouchers and Cards | 323 | 425 | +17.4% | -1.9% | +15.9% | +31.4% |
Intra-group eliminations | -6 | -9 | - | - | - | - |
TOTAL | 10,224 | 10,476 | +8.4% | -6.5% | +0.6% | +2.5% |
1) Organic growth: revenue growth, at constant scope of consolidation and exchange rates.
2) The currency impact was a negative -6.5%, but contrary to exporting companies, the revenues and operating expenses of Sodexo subsidiaries are denominated in the same currency. Consequently, foreign exchange variations do not result in operating risks.
Commenting on the figures, Sodexo CEO, Michel Landel, said, " Sodexo has maintained a sustained growth rate thanks to a comprehensive portfolio of services and the breadth of its international network despite a more challenging economic environment. All of our segments are progressing in all geographies.
In Service Vouchers and Cards, our progress is much faster than that of the market. We therefore reaffirm our organic growth and operating profit objectives for this fiscal year and remain confident in our medium term prospects."
To read the full text, please download the press release in pdf below.
Press release and Appendices in PDF Presentation in PDF
Webcast
In addition, the conference call will be broadcast on the Internet (webcast) with simultaneous audio and conserved in archives for twelve months.
Availability of information
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About Sodexo
Sodexo, founded in 1966 by Pierre Bellon, is a world leader in Food and Facilities Management
services, with more than 340,000 employees on 29,300 sites in 80 countries. For Fiscal 2007, which
closed August 31, 2007, SODEXO had revenues of 13.4 billion euro. Listed on Euronext Paris, the
Group has a current market capitalization of 6.5 billion euro.
On-demand webcast
Sodexo Fiscal 2008 First nine months revenues Conference call
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