Sodexo: Strong recovery continues, Q1 Fiscal 2022 revenues +18.8%

• Organic revenue growth +17.5%

• Activity back up to 95% of pre-Covid levels

• Good control of inflation during the quarter

Q1 Fiscal 2022 revenues

Highlights of the period

• First quarter Fiscal 2022 consolidated revenues reached 5.3 billion euro, up +18.8% year-on-year including a net contribution from acquisitions and disposals of -0.9%, more than compensated by a currency impact of +2.1%. As a result, organic growth was +17.5%.

• On-site Services revenue organic growth was +17.9%. The ongoing recovery is visible in all segments, geographies and services. Healthcare & Seniors and Schools segments are now well above pre-Covid levels at respectively 105% and 104% of Fiscal 2019 revenues, adjusted for currencies. Corporate Services, Sports & Leisure and Universities all increased very substantially during the quarter, as employees returned to their offices, students to their universities and stadiums and convention centers reopened. As a result, Food Services also recovered strongly in the quarter, to reach 83% of Fiscal 2019 levels.

• Benefits & Rewards Services is also now back on a growth path, relative to the pre-Covid levels at 107% of Fiscal 2019. Revenue organic growth was +7.0%, with Europe, USA and Asia up +6.9%, now well above Fiscal 2019 levels, and Latin America up +7.3%, with a strong recovery in Brazil, in particular.

• During this first quarter, Sodexo continued to reinforce its commitments to reduce its environmental footprint. 

  • In October 2021, Sodexo in the United Kingdom & Ireland has announced a comprehensive roadmap to net zero and decarbonization of its business. Having already exceeded Group’s target to reduce carbon emissions by 34% by 2025 (compared to a 2017 baseline), the region has set its next steps,

    • to become Carbon Neutral in its direct operations by 2025.

    • to reduce carbon emissions across all three scopes by 55% by 2030.

    • to decarbonize United Kingdom and Ireland business, with 90% of all carbon emissions cut across all three scopes, by 2045.

  • Once again, Sodexo’s commitments were recognized by the 2021 Dow Jones Sustainability Indices (DJSI), Sodexo remaining at the top of its industry for the 17th consecutive year.

Read the full press release here