On-site Service Solutions: Solid contribution to revenue growth from emerging countries and Rest of the World, at nearly + 16%
Motivation Solutions: Organic growth of + 9.0%
Commenting on the figures, Sodexo CEO Michel Landel said:
"In a volatile global economy, which has continued to deteriorate for the past several months, our Quality of Life integrated service offers and our emerging markets growth strategy have accounted for a large part of our growth. Our teams are fully mobilized to provide our clients with the services and savings they expect and to improve our competitiveness."
On-site Service Solutions
Organic growth in On-site Service Solutions was + 5.0%
Growth of + 7.3% in Corporate was propelled by double-digit growth (+ 16.8%) resulting from the success of Sodexo’s operations in Latin America, Asia and Remote Sites, as well as the fall 2011 Rugby World Cup hospitality contract in New Zealand. During the third quarter however, the global economic downturn impacted Sodexo’s activity more noticeably.
Major multi-country contracts with large multinational companies won by Sodexo during the period included Unilever, Alcatel-Lucent, Astra Zeneca and Eli Lilly.
Organic growth reached 2.7% in Health Care and Seniors and 2.9% in Education against a backdrop of more modest business development, particularly in Europe.
Organic revenue growth for Motivation Solutions reached + 9.0% for the first nine months of the fiscal year, an accelerated performance compared to the same period last year. This reflects, in particular, the momentum of Sodexo teams in Latin America and improvement in Europe and Asia.
Read the full press release
Sodexo will hold a conference call (in English) today at 8:30 a.m. (Paris time), to comment on revenue for the first nine months of Fiscal 2012. The conference can be followed by dialing +44 (0) 1452 55 55 66, followed by the code 92 03 40 26. A recording of the conference will be available by dialing +44 (0) 1452 55 00 00, followed by the code 92 03 40 26 #.