Sodexo: announces organic growth of 1,9 percent

Issy-les-Moulineaux / FR. (so) Sodexo, world leader in Quality of Daily Life Solutions, announced revenues for the first nine months of Fiscal 2010, which ended on May 31, 2010. Highlights: On-site Service Solutions up 1,6 percent, following more sustained activity in the last three months; Motivation Solutions up 6,9 percent with improved momentum in Latin America; revised outlook for Fiscal 2010 is a organic revenue growth of close to two percent.

Revenue by activity and geographical region

Results in millions of EUR	9 months FY 2009	9 months FY 2010	Organic growth	Currency impact	Acquisitions	Total change
On-site Service Solutions
North America	4’620	4’512	+01,6%	-04,3%	+00,3%	-02,4%
Continental Europe	3’917	4’073	+01,2%	+00,3%	+02,5%	+04,0%
UK and Ireland	939	887	-03,3%	-02,3%	–	-05,6%
Rest of the World	1’408	1’577	+06,0%	+02,6%	+03,4%	+12,0%
Total	10’884	11’049	+01,6%	-01,6%	+01,5%	+01,5%
Motivation Solutions
–	529	508	+06,9%	-10,9%	–	-04,0%
Intra-group eliminations	-14	-14	–	–	–	–
Consolidated total	11’399	11’543	+01,9%	-02,0%	+01,4%	+01,3%

Organic growth means increase in revenues at constant scope and excluding exchange rate effects. In September 2009, Sodexo decided to change the names of its services as follows: «Food and Facilities Management Services» is now «On-site Service Solutions»; «Service Vouchers and Cards» is now «Motivation Solutions».

Commenting on these figures, Sodexo CEO Michel Landel said: «This performance is a result of Sodexo´s new strategic positioning and the excellent work of our teams. The global economic environment is volatile and we remain prudent in our outlook. However, I remain fully confident in our ability to capitalize on the significant growth potential of our markets, estimated at 780 billion EUR, based on the relevance of our comprehensive service solutions and Sodexo´s presence in 80 countries particularly in the dynamic economies in Asia and Latin America».

Info: To read the full statement, please download the press release (PDF) or / and the financial presentation (PDF).