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Sodexho announces strong growth in Fiscal 2006 results
11/16/2006
The Sodexho Alliance Board of Directors met in Paris under the chairmanship of Pierre Bellon to close the accounts for the year ending August 31, 2006.
- Acceleration in organic revenue growth: +6.4%
- Operating profit up: +34.4%
- Substantial rise in Group net income: +51.8%
- Proposed dividend increase: + 27 % to 0.95 euro per share
- Robust financial model: net cash provided by operating activities of 488 million euros
- Confirmation of medium term perspectives
Paris, November 16, 2006 - SODEXHO ALLIANCE (Euronext Paris FR0000121220 - SW / NYSE:SDX). The Sodexho Alliance Board of Directors met under the chairmanship of Pierre Bellon to close the accounts for the year ended August 31, 2006.
Key financial performance indicators | ||||
IFRS accounting standards(1) in million euros | 2006 | 2005 | % change (current exchange rates) | % change (constant exchange rates)(3) |
Income statement highlights | ||||
Revenue | 12,798 | 11,693 | 9.4% | 6.6% |
Organic growth | +6.4% | +4.3% | ||
Operating profit | 605 | 450 | 34.4% | 30.8% |
Profit attributable to equity holders of the parent | 323 | 212 | 51.8% | 47.3% |
Earnings per share (in euros) | 2.07 | 1.36 | 51.7% | 47.2% |
Financial structure highlights | ||||
Net cash provide by operating activities | 488 | 677 | ||
Reduction of net debt(2) | (234) | (412) | ||
Borrowings / operating cash flow (years) | 4.2 | 4.3 | ||
(1) The transition to IFRS standards is effective on September 1, 2005 ; Fiscal 2005 and Fiscal 2006 figures are stated in IFRS standards
(2) Borrowings less cash and cash equivalents, Restricted cash and financial assets related to the Service Vouchers and Cards activity
(3) Currency impact is now calculated by applying the average exchange rate for the prior year to the current fiscal year figures
Michel Landel, SODEXHO ALLIANCE CEO, said: « The strong growth of our Fiscal 2006 earnings demonstrates the dedication of all of our teams worldwide. This solid performance shows the relevance of our strategic choices and efficiency in their implementation. Going forward, we intend to reinforce our position as a global expert in both Food and Facilities Management services and in Service Vouchers and Cards. The diversity of our teams and their strong motivation, the considerable potential of our markets and the strength of our financial model, make me particularly confident in our future.”
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About Sodexho Alliance
SODEXHO ALLIANCE, founded in 1966 by Pierre Bellon, is the leading global provider of Food and Management services, with more than 324,000 employees on 26,700 sites in 76 countries. For Fiscal 2005, which closed August 31, 2005, SODEXHO ALLIANCE had sales of 11.7 billion euro. Listed on Euronext Paris and on the New York Stock Exchange, the Group's current market capitalization is 6.0 billion euro.
