Sodexo posted sales (excluding Pluxee) up 3.1% to 6.3 billion euros for its first quarter 2024, including a currency effect of -4.8%, a contribution from acquisitions net of disposals of -0.3% and organic growth of +8.2%.

Organic sales growth benefited from a good contribution from the Rugby World Cup, but was negatively impacted by accounting changes on certain energy and resources projects in the rest of the world zone.

Inflation-driven price rises are gradually slowing, representing around +4.5%. "The ramp-up of new contracts, sales of additional on-site services and continued growth in volumes are increasing by almost +4%", adds the services group.

Sodexo is maintaining its outlook (excluding Pluxee) for fiscal 2024 and 2025, namely organic sales growth of between +6 and +8% per year, as well as an operating margin growth of +30 to +40 basis points per year, at constant exchange rates.

Copyright (c) 2024 CercleFinance.com. All rights reserved.