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Sodexo Q3 Revenues Up 23.2%; Confirms FY Outlook

Sodexo S.A. (SDXAY.PK), a French food services and facilities management company, reported that its consolidated revenues for the third quarter fiscal 2022 were 5.52 billion euros, up 23.2% year-on-year including a net contribution from acquisitions and disposals of -1.7%, more than compensated by a strong positive currency impact of +6.6%, linked to the strength of the US dollar and the Brazilian Real.

As a result, third quarter fiscal 2022 organic growth was 18.3%, reaching 97% of Fiscal 2019 revenues at constant rates.

On-site Services organic growth for the third quarter fiscal 2022 was up 18.3% and represented 97% of Fiscal 2019 revenues, against 94% in Second quarter fiscal 2022 demonstrating a strong recovery post-Omicron.

The company confirmed its expectations for fiscal 2022 organic growth around the bottom of the range of 15% to 18%; underlying operating profit margin close to 5%, at constant rates.

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