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Sodexho announces strong growth in First Half Fiscal 2007 Results
4/26/2007
Extract from the press release
- Acceleration in organic revenue growth: + 8.2%
- Operating profit up: + 20.4% excluding currency impact
- Substantial rise in net income: + 24%
- Continued robust financial model: net cash provided by operating activities of 211 million euro
- Upward revision of the Group's objectives for Fiscal 2007
Paris, April 26, 2007 - SODEXHO ALLIANCE (Euronext Paris FR0000121220 - SW / NYSE:SDX), The Sodexho Alliance Board of Directors met on April 24, 2007, under the chairmanship of Pierre Bellon, to approve the Group's financial statements for the first half of Fiscal 2007, which ended on February 28, 2007.
(in million of euro) | Fisrt Half Fiscal 2006 | Fisrt Half Fiscal 2007 | Change (excluding currency impact) | Currency impact (1) | Total change |
Income statement highlights | |||||
|---|---|---|---|---|---|
Revenues | 6,546 | 6,819 | + 8.4% | - 4.2% | + 4.2% |
Operating profit | 315 | 364 | + 20.4% | - 4.8% | + 15.6% |
Operating margin | 4.8% | 5.3% | |||
Group net income | 160 | 198 | + 29.2% | - 5.0% | + 24.2% |
Financial structure highlights | |||||
February 28, 2006 | February 28, 2007 | ||||
Net cash provided by operating activities | 93 | 211 | |||
Gearing | 31% | 25% | |||
(1) The currency impact is unfavorable, however, Sodexho subsidiaries' income and expenses are expressed in the same currency ; hence, contrary to exporting companies, currency variations carry no operating risk. Currency impact is calculated by applying the average exchange rate for the prior year to the current fiscal year figures
"The Group's first-half results are good, reflecting the expertise and commitment of our teams throughout the world as well as the breadth of our innovative quality of life services offer. This performance, achieved across all geographies, leads us to revise upwards the objectives for operating profit growth that we are targeting for the current fiscal year from the 10% growth that we had originally stated to around 12% growth, excluding currency impact,” said Sodexho CEO, Michel Landel.
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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 8.9 billion euro.
