- Sales growth +21.2%, organic growth +16.9%, Q4 back to pre-Covid levels
- Underlying operating profit margin +170 basis points
- Improved retention to all-time high and development
- Forecast for the 2023 financial year:
- Organic growth: +8 to +10%
- Underlying operating profit margin close to 5.5% at constant exchange rates
Issy les Moulineaux, October 26, 2022 – Sodexo SDXAY.
At the board meeting on October 25, 2022, chaired by Sophie Bellon, the board closed the consolidated financial statements for the 2022 financial year ended August 31, 2022.
Financial performance fiscal year 2022
| (in million euros) | FINANCIAL YEAR 2022 | FINANCIAL YEAR 2021 | DIFFERENCE | DIFFERENCE CONSTANT RATES |
| revenue | 21.125 | 17,428 | +21.2% | +15.7% |
| Organic growth | +16.9% | -5.6% | ||
| UNDERLYING OPERATING RESULT | 1,059 | 578 | +83.3% | +73.5% |
| UNDERLYING OPERATING MARGIN | 5.0% | 3.3% | +170 bps | +170 bps |
| Other operating expenses | (5) | (239) | ||
| OPERATING RESULT | 1,054 | 339 | +210.9% | +199.1% |
| net financial expense | (87) | (106) | ||
| tax burden | (264) | (101) | ||
| effective tax rate | 27.5% | 43.9%1 | ||
| NET PROFIT GROUP SHARE | 695 | 139 | x5 | x5 |
| eps (in Euro) | 4.75 | 0.95 | x5 | |
| UNDERLYING NET INCOME | 699 | 346 | x2 | x2 |
| UNDERLYING EPS (in Euro) | 4.78 | 2.37 | X2 |
Commenting on the performance, Sodexo Chair and CEO Sophie Bellon said:
“All of our activities have recovered strongly in fiscal 2022. Benefits & Rewards Services growth accelerated and onsite services margins improved despite the inflationary backdrop. Net new business was strong and customer retention at an all-time high. Our balance sheet was also significantly strengthened.
Good progress has been made on the priorities I set earlier this year: North America has achieved strong growth, improved profitability and its retention and development has improved significantly. We have accelerated the transformation of our food models through several organic and external investments while actively managing our portfolio of activities. The transfer of P&L responsibility to regions and countries with full effect on October 1, 2022 simplifies the…
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