Sodexo: Strong increase in revenues and profitability in FY-2022

Issy-les-Moulineaux / FR. (so) France’s Sodexo announced a strong increase in revenues and profitability in Fiscal Year 2022, that ended in Hauts-de-Seine on August 31, 2022. Highlights:

  • Revenue growth +21.2 percent, organic growth +16.9 percent, Q4 returned to pre-Covid level
  • Underlying operating profit margin +170 bps
  • Retention at all-time high and Development improving
  • Fiscal 2023 guidance:
    • Organic growth: +8 to +10 percent
    • Underlying operating profit margin close to 5.5 percent, at constant rates

20221026-SODEXO-FY-2022

Commenting the performance, Sodexo Chairwoman and CEO Sophie Bellon said: «All our activities delivered a strong recovery in Fiscal 2022. Growth in Benefits + Rewards Services accelerated and On-site Services margins improved, despite the inflationary backdrop. Net new business was strong, and retention was at an all-time high. Our balance sheet has also been strengthened significantly.

«Good progress has been made on the priorities I set out at the beginning of the year: North America generated strong growth, improved profitability and its retention and development improved significantly. We accelerated the transformation of our food models through several organic and external investments while also actively managing our portfolio of activities. The transfer of P+L responsibility to regions and countries, fully effective from October 1, 2022, will simplify the organization.

«I warmly thank our teams for their impressive engagement and performance in the field with our clients and our suppliers in these challenging times.

«We expect that our financial performance will return to Fiscal 2019 levels this year. I am confident that for Fiscal 2023, we can achieve +8 to +10 percent organic growth and a margin close to 5.5 percent.» For additional information please read the Company’s PDF file below (179 KB):

20221026-SODEXO-FY-2022
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