When creating Sodexo in 1966, we made two major choices that are still the pillars of our strategy: Sodexo is and will remain a services company, Sodexo is and will remain an independent company.
Since Sodexo’s creation in 1966, independence has been one of its fundamental principles. Independence enables the Group to maintain its values, focus on a long-term strategy, maintain management continuity and ensure its durability.
Today, Sodexo’s independence pervades its relationships with all stakeholders, including:
Our clients (our largest client worldwide represents less than 2% of our total revenues);
Our suppliers (our largest supplier represents less than 3% of our overall purchasing);
Our financing partners;
Any external organization that would limit the company’s proper functioning.
Sodexo’s financial independence is ensured through the founding family shareholding: Pierre Bellon’s children control 68.5% of the Bellon SA holding company.
As of August 31, 2016, our controlling holding company, Bellon SA, held 39.6% of Sodexo’s capital and 54.8% of the exercisable voting rights.
Our financial independence rests on two simple principles:
Choosing activities with low capital intensity and average investments (excluding acquisitions) that represent around 2% of revenues;
Permanent access to sufficient cash resources to finance development, reimburse medium term borrowings and pay a dividend to shareholders.