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Sodexo achieves strong increase in revenues and profitability

27th Oct 2022 - 07:00
Chairman of Sodexo UK and Ireland Sean Hayley
Global services company Sodexo has achieved revenue growth of +21.2%, organic growth of +16.9% and Q4 returned to pre-Covid levels.

Operating in 53 countries around the world, Sodexo’s 422,000 employees serve 100 million consumers a day with the aim of providing ‘quality, multichannel and flexible food experiences’.

Over the past 12 months Sodexo UK and Ireland has welcomed organisations such as the Metropolitan Police, Bright Futures Educational Trust and HMP Lowdham Grange. Sodexo has also retained and extended their contracts in the Falklands and Cyprus with the Ministry of Defence.

Sodexo announced they had retained five contracts with independent schools from London to Edinburgh. Other Sodexo achievements include helping colleagues through the increasing cost of living, supporting 1,220 apprentices and the acceleration of the SBTi validated net zero targets.

Commenting on FY22 Full Year Group Results, chairman of Sodexo UK and Ireland Sean Hayley, said: “Sodexo has achieved better than expected recovery and underlying trade is now back to pre-pandemic levels. I hope this is the last time we will compare our performance in terms of the pandemic. Our business is now fully open, with exciting offers and services that anticipate and meet what our clients and consumers demand.

“I want to thank all our colleagues for this success and for demonstrating how our purpose, to create a better every day for everyone to build a better life for all, is integral to what we offer, the way we do business and how our teams deliver excellent services.

“I am confident for the year ahead that we will make further progress and continue to grow with purpose, delivering a broad range of vital services in partnership with our valued clients- and all the time guided by our mission to improve the quality of life for our colleagues, those we serve and the communities in which we operate.”

Across the globe Sodexo’s food waste was 41.5% lower in comparison to Fiscal 2021 but this was because it was measured across 1,873 sites instead of just 878 last year. The Group remains on track to reduce food waste by 50% on 85% of their sites by 2025.

Sodexo’s world education organic growth was +22% following a strong post-Covid recovery in universities and schools across North America, China and India in particular. In healthcare & seniors Sodexo achieved an organic growth of +4% and in business & administrations organic growth was +22.7%.

Sodexo chairwoman and chief executive Sophie Bellon added: “North America generated strong growth, improved profitability and its retention and development improved significantly. We accelerated the transformation of our food models through several organic and external investments while also actively managing our portfolio of activities.

“We expect that our financial performance will return to Fiscal 2019 levels this year. I am confident that for Fiscal 2023, we can achieve +8 to +10% organic growth and a margin close to 5.5%.”

Written by
Edward Waddell