Sodexo Q3 Fiscal 2020 Revenue impacted by COVID-19
07 juli 2020
- Q3 Organic growth at -29.9%, better than early-April hypothesis
- More prudent hypotheses for Q4 revenues compensated by better Underlying operating profit flow-through in H2
Q3 Fiscal 2020 revenues
Sodexo CEO Denis Machuel said:
“We have lost nearly one third of our Q3 revenues relative to last year due to COVID-19. Nevertheless, our On-site business broad geographic mix, strong Facilities Management (FM) and large integrated accounts combined with Benefits & Rewards have given us resilience.
At the start of the crisis, our focus was on protecting the health and safety of our people, consumers and clients. With a significant number of sites fully or partially closed, we immediately identified all means to protect our cash and reduce our costs.
As deconfinement became a reality, first in Asia, then in Europe, we launched "rise with Sodexo”, a new program to help our clients reopen their sites safely and as quickly as possible. This multi-service approach brings together a wide range of our services with secure protocols, approved by the Sodexo Medical Advisory Council and carrying a Bureau Veritas hygiene verification label. I am extremely proud of the speed of action and innovation that our teams have shown.
I am convinced that the company is in a position to come out of this crisis stronger than ever.”