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Sodexho announces an increase in organic growth for first-half Fiscal 2007: + 8.2 %; Total revenues up 4.2%
4/4/2007
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- Continued development in Food and Facilities Management services in all geographies: +7.9%
- Remarkable growth for Service Vouchers and Cards: +20.5%
- Organic Growth objective for Fiscal 2007 revised upward: above 7%
Paris, April 4, 2007 - SODEXHO ALLIANCE (Euronext Paris FR0000121220 - SW / NYSE:SDX), the leading global provider of Food and Facilities Management services, today announced consolidated revenues for first-half Fiscal 2007, ended February 28, 2007.
| Revenue by activity | ||||||
In millions of euro | First Half Fiscal 2006 | First Half Fiscal 2007 | Organic growth(1) | Currency impact(2) | Acquisitions | Total change |
Food and Facilities Management services: | 6,371 | 6,612 | 7.9% | - 4.2% | 0.1% | 3.8 % |
- North America | 2,919 | 2,890 | 7.6% | - 8.1% | - 0.5% | -1.0% |
- Continental Europe | 2,111 | 2,236 | 4.9% | 0.1% | 0.9% | 5.9% |
- United Kingdom and Ireland | 663 | 720 | 6.9% | 1.6% | - | 8.5% |
- Rest of the World | 678 | 766 | 19.4% | -6.5% | 0.1% | 13.0% |
Service Vouchers and Cards | 178 | 211 | 20.5% | -4.5% | 2.4% | 18.4% |
Elimination of intragroup revenues | (3) | (4) | ||||
TOTAL | 6,546 | 6,819 | 8.2% | -4.2% | 0.2% | 4.2% |
1) Organic growth: increase in revenues at constant consolidation scope and exchange rates.
2) The current impact is (-4.2)%. However, Sodexho subsidiaries' income and expenses are expressed in the same currency; hence, contrary to exporting companies, currency variations carry no operating risk.
Commenting on the first-half revenues, Michel Landel, Chief Executive Officer, said: “The acceleration in organic growth during the first six months, resulting particularly from comparable unit growth, is very encouraging. The scope of our global network and the emphasis we have given over the past few years to constant innovation in our quality of life services offers are significant sources of competitive advantage. These lend support to our strategy and Sodexho's leadership position in the fast-growing Facilities Management market. Our good first-half performance leads us today to anticipate organic growth exceeding 7% for Fiscal 2007, in line with our medium term objective of annual average organic growth of 7%.”
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About Sodexho Alliance
SODEXHO ALLIANCE, founded in 1966 by Pierre Bellon, is the leading global provider of Food and Facilities Management services, with more than 332,000 employees on 28,300 sites in 80 countries. For Fiscal 2006, which closed August 31, 2006, SODEXHO ALLIANCE had sales of 12.8 billion euro. Listed on Euronext Paris and on the New York Stock Exchange, the Group's current market capitalization is 8.7 billion euro.
