– Sales for the first quarter rose 4.7%, organic growth of 2.3%
– CA onsite services up 4.7%, of which 1 9% at constant scope and exchange
– CA Benefits and Rewards up 3.7% and 12.1% on a comparable
– The Group confirms the targets in 2014 -2015 set in November 2014
– Sodexo expects a turnover of organic growth of around 3% this year
– Excluding foreign exchange and exceptional, the group expects an increase of 2014-2015 operating income by approximately 10%
Results Sodexo – Fiscal Year 2014-2015:
THE ESSENTIALS:
PARIS (Dow Jones) – -The giant catering and prepaid service vouchers Sodexo confirmed Friday its objectives for the 2014-2015 fiscal year, which ends in late August after an internal growth of 2.3% in the first quarter, supported by higher of activity in virtually all of its regions.
The remote sites, including for the mining and oil sectors, which had weighed on the activities of Sodexo in 2013-2014, “returned to growth given the strong commercial development of the previous year “said the business services group in a statement.
For the year 2014-2015, Sodexo continues to expect organic growth of its sales in the order of 3%, with an increase in operating profit of approximately 10%, excluding currency effects and exceptional items.
In the first quarter, the group’s turnover of stood at 5.08 billion euros against 4.86 billion euros a year earlier, representing an increase of 4 7% on a reported basis and 2.3% on an organic basis.
The turnover of services on client companies sites, restoration, has almost reached 4.89 billion euros, up 4.7% on a reported basis and 1 9% on a comparable basis. It has made progress in all areas where the Group operates, except in continental Europe, where it has stagnated at constant scope and exchange rates.
The branch “Services Benefits and Rewards” which issues securities prepaid services, was up a quarterly turnover of € 198 million, representing organic growth of 12.1% and rising 3.7% after accounting for currency and perimeter.
Sodexo shares closed Thursday at 81.42 euros.
THE COMMENT OF THE COMPANY:
Michel Landel, Sodexo general manager, said in a statement: “Sodexo’s organic growth in revenues in the first quarter is in line with our expectations This increase in revenues reflects the dynamics of the Group’s two growth drivers. our advantages and rewards services have once again achieved double-digit growth and our facilities management services, which continue to grow in most geographical areas of nearly 5% per year. We therefore confirm our targets in November 2014 “.
BACKGROUND
In the face of difficult economic conditions, the business outsourcing services provider announced in late 2012, a cost reduction program whose objectives were identified months later. This plan is intended to enable it to achieve annual savings of 180 to 200 million euros, against 130 originally anticipated 150 million euros. The cost of this program was also relieved of 130-150 million to 180-200 million. It must bear fruit from the 2014-2015 financial year.
The giant of catering and service vouchers offer a wider range of outsourced business services, ranging from home security through the concierge. These new services show a substantially greater than that of catering growing more mature. With more than 420,000 employees, Sodexo is the twentieth largest employer worldwide.
-Ambroise Ecorcheville, Dow Jones Newswires; +33 (0) 1 40 17 17 71; ambroise.ecorcheville@wsj.com
PRESS RELEASES FINANCIAL SODEXO:
http://www.sodexo.com/fr/finance/actualites/cp/list.aspx
Dow Jones Newswires
January 09, 2015 2:03 ET (7:03 GMT)
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