Fiscal 2020 Universal Registration Document

REVENUES BY SEGMENT (in millions of euro)	H1 FY 2020	H1 FY 2019	RESTATED ORGANIC GROWTH	H2 FY 2020	H2 FY 2019	RESTATED ORGANIC GROWTH
Business & Administrations	Business & Administrations H1 FY 2020 6,186	Business & Administrations H1 FY 2019 5,645	Business & Administrations RESTATED ORGANIC GROWTH + 5.7%	Business & Administrations H2 FY 2020 4,079	Business & Administrations H2 FY 2019 5,932	Business & Administrations RESTATED ORGANIC GROWTH - 29,2%
Healthcare & Seniors	Healthcare & Seniors H1 FY 2020 2,538	Healthcare & Seniors H1 FY 2019 2,552	Healthcare & Seniors RESTATED ORGANIC GROWTH - 2.0%	Healthcare & Seniors H2 FY 2020 2,276	Healthcare & Seniors H2 FY 2019 2,658	Healthcare & Seniors RESTATED ORGANIC GROWTH - 11,1%
Education	Education H1 FY 2020 2,528	Education H1 FY 2019 2,420	Education RESTATED ORGANIC GROWTH + 2.4%	Education H2 FY 2020 947	Education H2 FY 2019 1,860	Education RESTATED ORGANIC GROWTH - 47,2%
ON-SITE SERVICES	ON-SITE SERVICES H1 FY 2020 11,252	ON-SITE SERVICES H1 FY 2019 10,617	ON-SITE SERVICES RESTATED ORGANIC GROWTH + 3.2%	ON-SITE SERVICES H2 FY 2020 7,302	ON-SITE SERVICES H2 FY 2019 10,450	ON-SITE SERVICES RESTATED ORGANIC GROWTH - 27,8%
BENEFITS & REWARDS SERVICES	BENEFITS & REWARDS SERVICES H1 FY 2020 443	BENEFITS & REWARDS SERVICES H1 FY 2019 430	BENEFITS & REWARDS SERVICES RESTATED ORGANIC GROWTH + 4.0%	BENEFITS & REWARDS SERVICES H2 FY 2020 330	BENEFITS & REWARDS SERVICES H2 FY 2019 462	BENEFITS & REWARDS SERVICES RESTATED ORGANIC GROWTH - 18,8%
Elimination	Elimination H1 FY 2020 (3)	Elimination H1 FY 2019 (2)	Elimination RESTATED ORGANIC GROWTH	Elimination H2 FY 2020 (2)	Elimination H2 FY 2019 (2)	Elimination RESTATED ORGANIC GROWTH
TOTAL GROUP	TOTAL GROUP H1 FY 2020 11,692	TOTAL GROUP H1 FY 2019 11,045	TOTAL GROUP RESTATED ORGANIC GROWTH + 3.2%	TOTAL GROUP H2 FY 2020 7,629	TOTAL GROUP H2 FY 2019 10,909	TOTAL GROUP RESTATED ORGANIC GROWTH - 27,5%

Most segments and activities were impacted by the pandemic in the second half, depending upon the number of site closures. However, some more than others.

	ACTUALS 2020
REVENUE ORGANIC GROWTH	Q3	Q3 TREND	Q4	H2
Business & Administrations	Business & Administrations ACTUALS 2020 - 28.5%	- 34%	- 29.8%	- 29.2%
Of which Corporate Services	Of which Corporate Services ACTUALS 2020 - 27%	- 32%	- 25%	- 26%
Of which Sports & Leisure	Of which Sports & Leisure ACTUALS 2020 - 84%	- 100%	- 91%	- 88%
Healthcare & Seniors	Healthcare & Seniors ACTUALS 2020 - 12.9%	- 15%	- 9.1%	- 11.1%
Education	Education ACTUALS 2020 - 53.9%	- 65%	- 35.7%	- 47.2%
Of which Schools	Of which Schools ACTUALS 2020 - 48%	- 58%	- 23%	- 39%
Of which Universities	Of which Universities ACTUALS 2020 - 59%	- 71%	- 48%	- 55%
On-site Services	On-site Services ACTUALS 2020 - 30.1%	- 36%	- 25.4%	- 27.8%
Benefits & Rewards Services	Benefits & Rewards Services ACTUALS 2020 - 22.8%	- 27%	- 15.1%	- 18.8%
Group	Group ACTUALS 2020 - 29.9%	- 36%	- 24.9%	- 27.5%

On-site Services

On-site Services revenues declined by -12.1% for the year, with the second half being down -27.8%, the deepest downturn ever registered, severely impacted by the effects of site closures during lockdown and a progressive recovery since.

Despite this signiﬁcant loss of revenues, the strategic choices and investments that the Group has made over the years, have provided some resilience during this crisis.

In the second half:

Facilities Management services were down only -1.4% (40%of total On-site Services revenues) and global Integrated FM accounts were ﬂ at (10% of On-site Services revenues), while Food services were down -42.2%.
while North America and Europe were down -35.9% and -28.4% respectively, Asia-Paciﬁc, Latin America, Middle East and Africa (17% of On-site Services revenues) was down only -5.2%.
in Business & Administrations,
- the Energy & Resources and Government & Agencies segments together (14% of On-site Services revenues) were up +1.3% in the second half,
- the decline in Corporate Services (25% of On-site Services revenues) was limited to -26% due to the 50/50 mix between FM and Food services and white and blue-collar consumers,
- Sports & Leisure segment activity closed down rapidly from mid-March, with sales down -88%;
in Education, despite being closed, Schools were more resilient than Universities due to many local authorities, particularly in North America, providing meals to families in need;
in Corporate Services, our mix of one third cost plus contracts, two thirds P&L contracts, also helped to ensure against rapid revenue corrections;
Healthcare & Seniors remained resilient, down only -11.1%(26% of On-site Services revenues);
all key indicators were impacted:
- client retention rate at the end of the year was solid at 93.5%, up +20 bps, or up +110 bps, excluding a signiﬁcant number of voluntary exits, with gross profit retention higher at 95.7%. Retention recovered in North America by 230 bps,
- new sales development was down -140 bps at 4.9%, as fewer new projects came up for tender, but margin discipline was maintained with a +50 bps improvement in signed contracts,
- lame site sales decline was -11.9% reflecting the significant food volume falls in many segments, particularly in Sports & Leisure, Education and CorporateServices. Healthcare & Seniors, Government & Agencies and Energy & Resources remained much more resilient due to some offset from cross-selling in particular of specialist hygiene and cleaning services. Only the Energy & Resources segment and the Asia-Paciﬁ c region achieved same site sales growth in the second half.

Fiscal 2020 Universal Registration Document

2. Management report

On-site Services