Sodexo: A Solid Performance in Fiscal 2013
At the November 12, 2013 Board of Directors meeting chaired by Pierre Bellon, Michel Landel, Chief Executive Officer, presented the performance for Fiscal 2013.
- Revenues up +0.9, thanks to:
- Increased demand for facilities management services, which accounted for 27 of revenues.
- A robust 8.3 increase in revenues from Benefits and Rewards Services.
- Operating profit before exceptional items* up +1.7 excluding the currency effect
- Group net income excluding exceptional items and net of tax up +5 and +7.3 at constant exchange rates
- A reduction in net debt, bringing the debt ratio down to 16
- A dividend of 1.62 euro per share, an increase of 2 from the prior year
- Objectives:
For Fiscal 2014:- Organic revenue growth of between +2.5 and +3.
- An improvement of around + 11 in operating profit**, leading to an operating margin of 5.6 (compared to 5.2 for fiscal 2013).
- For Fiscal 2015, an operating margin of 6.
"Sodexo delivered a solid performance for Fiscal 2013."
"Our strategy is proving effective, as seen in the increased client demand for our facilities management services and the growth observed in our Benefits and Rewards Services. Every day, we demonstrate our resilience as well as our ability to adapt and respond to new client needs and a constantly changing environment.
Lastly, we are proud that our commitment to economic, social and environmental responsibility has been recognized by the Dow Jones Sustainability Index as the global industry leader in our sector for the ninth year in a row."
* Expenses related to the program to improve operational efficiency in Fiscal 2013 and the favorable accounting adjustment to pension plan costs in the United Kingdom in Fiscal 2012.
** At constant exchange rates and before the impact of exceptional expenses related to the operational efficiency improvement and cost reduction program.
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