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Sodexo announces both revenue and operating profit growth for Fiscal 2009

11/10/2009

Sodexo held a briefing on its Fiscal 2009 results on November 10, 2009.

Revenues up 7.9%, including 2.5% organic growth
Operating profit of 746 million euro, up 8.1%
Growth in net income of 4.5% after acquisition financing, maintaining proposed dividend at 1.27 euro per share
Fiscal 2010 outlook: revenues to be maintained at same level as previous year; operating profit between 750 and 770 million euro, at constant exchange rates
Medium-term ambitions confirmed

Paris, November 10, 2009 - Sodexo's (NYSE Euronext Paris FR 0000121220- OTC : SDXAY) Board of Directors met on November 6, 2009 under the chairmanship of Pierre Bellon to close the accounts for the year ended August 31, 2009. Michel Landel, Chief Executive Officer, presented the financial results for Fiscal 2009.

Key financial performance indicators for Fiscal 2009

Income statement highlights
millions of euro	Fiscal year ended August 31
millions of euro	2009	2008	change at constant exchange rates	Currency impact	Total %change
Revenues	14,681	13,611	+ 6.4%	+1.5%	+7.9%
Organic growth	2.5%	7.7%	-	-	-
Operating profit	746	690	+6.7%	+1.4%	+8.1%
Operating margin	5.1%	5.1%	-	-	-
Net income	393	376	+5.3%	-0.8%	+4.5%
Earnings per share (in euro)	2.54	2.42	+5.8%	-	-
Dividend per share (in euro)	1.27	1.27	-	-	-
Financial structure highlights
Net cash provided by operating activities	577	780	-
	31/08/09	31/08/08
Gearing ratio	38%	21%	-

Commenting on these results, Sodexo CEO Michel Landel, said:
"In a particularly difficult environment, Sodexo again increased revenues and profits in Fiscal 2009 to a level in line with its objectives. Sodexo remains a growth company. Firmly focused on the future and the long term, we have continued during Fiscal 2009 to invest in the implementation of our strategy, including in our comprehensive offer, in training our teams, in recruiting new talents, in creating platforms of expertise in Facilities Management, and also in four acquisitions in France, Germany, India and the U.S. As we anticipated last year, the crisis has slowed our new business development and weighed on comparable unit growth on existing sites. These impacts will continue during Fiscal 2010 such that, for the coming year, consolidated revenues are likely to remain at the same level as in Fiscal 2009 (at constant scope and exchange rates). Also, our Fiscal 2010 operating profit objective is to achieve between 750 and 770 million euro (at constant rates). Beyond this horizon, and given the considerable potential of our worldwide markets, our unique strategic positioning and our solid financial structure, we are fully confident of our ability to achieve the medium term objectives we have set: i.e., annual average revenue growth of 7% and an operating margin of 6%.”

To read the full text, please download the press release below.
Press Release in PDF
Financial presentation
Financial Appendix
Appendix - Selection of new clients

Analyst Meeting
Sodexo will hold a briefing on its Fiscal 2009 results today at 9:00 a.m. at the Centre de Conférences, Capital 8 (32, rue Monceau, Paris 8ème, France).

View the on-demand webcast

About Sodexo
Quality of Life services play an important role in the progress of individuals and the performance of organizations. Based on this conviction, Sodexo serves as the strategic partner for companies and institutions that place a premium on performance, as it has since Pierre Bellon founded the company in 1966. Sharing the same passion for service, Sodexo's 380,000 employees, in 80 countries around the world, design, manage and deliver an unrivaled array of comprehensive On-site Service Solutions and Motivation Solutions. In this, Sodexo has invented a new form of service business that promotes the fulfillment of our employees and contributes to the economic, social and environmental development of the communities, regions and countries in which it operates.