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Sodexo beats forecasts as turnaround gains traction after North America setbacks

By Reuters News

Oct 23 (Reuters) - Sodexo EXHO.PA reported stronger-than-expected full-year revenue on Friday, helped by steady demand and higher prices, as Chief Executive Thierry Delaporte pressed ahead with efforts to rebuild competitiveness after contract losses and weaker performance in the group's key North American market.

  • Revenue in the fiscal year ended in August reached €23.96 billion ($26.86 billion) incorporating organic growth of 2.0%, above the €23.78 billion and 1.5% seen in a consensus poll compiled by the company

  • Sodexo confirmed its fiscal 2027 forecast for organic revenue growth of 2% to 3%, and an underlying operating margin broadly in line with 2026's 3.4%

  • Underlying operating profit fell 28.9% to €810 million, beating analysts' estimate of €787 million

  • Sodexo proposed a dividend of €1.74 per share, in line with its policy of paying out 50% of underlying net profit

  • "Our overall performance remains below the full potential of the group," Delaporte said, adding that Sodexo would continue efforts in fiscal 2027 to restore competitiveness

($1 = 0.8920 euros)

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