| REVENUES BY REGION (in millions of euro) | FY 2020 | FY 2019 | RESTATED ORGANIC GROWTH |
|---|---|---|---|
| North America | North America FY 2020 2,569 | North America FY 2019 3,098 | North America RESTATED ORGANIC GROWTH - 18.5% |
| Europe | Europe FY 2020824 | Europe FY 20191,079 | Europe RESTATED ORGANIC GROWTH- 20.1% |
| Asia-Pacific, Latam, Middle East and Africa | Asia-Pacific, Latam, Middle East and Africa FY 2020 81 | Asia-Pacific, Latam, Middle East and Africa FY 2019 102 | Asia-Pacific, Latam, Middle East and Africa RESTATED ORGANIC GROWTH - 20.3% |
| EDUCATION TOTAL | EDUCATION TOTAL FY 2020 3,475 | EDUCATION TOTAL FY 2019 4,280 | EDUCATION TOTAL RESTATED ORGANIC GROWTH - 18.9% |
Fiscal 2020 revenues in Education were 3.5 billion euro, down -18.9% organically. While the first half was up +2.4%, the second half was down -47.2%, impacted very significantly by the closure of most sites around the world. Food sales were cut by more than a half, the remainder being principally linked to local authority efforts to provide meals to families despite the school closures. FM services were much more resilient.
| REVENUES BY REGION (in millions of euro) | H2 FY 2020 | H2 FY 2019 | RESTATED ORGANIC GROWTH |
|---|---|---|---|
| North America | North America H2 FY 2020 681 | North America H2 FY 2019 1,303 | North America RESTATED ORGANIC GROWTH - 46.5% |
| Europe | Europe H2 FY 2020 239 | Europe H2 FY 2019 506 | Europe RESTATED ORGANIC GROWTH - 49.2% |
| Asia-Pacific, Latam, Middle East and Africa | Asia-Pacific, Latam, Middle East and Africa H2 FY 2020 26 | Asia-Pacific, Latam, Middle East and Africa H2 FY 2019 51 | Asia-Pacific, Latam, Middle East and Africa RESTATED ORGANIC GROWTH - 45.3% |
| EDUCATION TOTAL | EDUCATION TOTAL H2 FY 2020 947 | EDUCATION TOTAL H2 FY 2019 1,860 | EDUCATION TOTAL RESTATED ORGANIC GROWTH - 47.2% |
In the second half, North America was down -46.5%. Although some universities remained open for foreign students who could not get home, most universities and schools were closed from the end of March. Schools were much more resilient than Universities due to a higher share of FM Services and the substantial number of packed meals produced for the local authorities for families in need.
In Europe, revenue was down -49.2% organically. Schools were closed in all countries from the outset of the crisis. Although 80% of schools were reopened in France in June, attendance remained very low. Summer camp activity helped in certain countries even though it was much more limited in the UK. Some cross-selling of cleaning and disinfection services helped to off set the very significant reduction in food services activity.
In Asia-Pacific, Latam, Middle East and Africa, organic growth was -45.3%, with the progressive closing of schools across Asia. Some schools started opening in China before the summer break.
BENEFITS & REWARDS SERVICES
Fiscal year 2020 Benefits & Rewards Services revenue amounted to 773 million euro, down -13.4%. Currencies had a negative impact of -5.8%, due principally to the weakness of the Brazilian real and the Turkish lira. The scope change was negligible. Organically revenues were down -7.8%, split up +4% in the fi rst half and down -18.8% in the second half. While the first half was impacted by lower interest rates and competitive pressures in Brazil, the second half was impacted by the Covid-19 crisis, particularly in Europe in the third quarter and in Latin America in the fourth quarter as the pandemic spread.
REVENUES BY ACTIVITY | FY 2020 | FY 2019 | ORGANIC GROWTH |
|---|---|---|---|
| Employee benefits | Employee benefits FY 2020 607 | Employee benefits FY 2019 709 | Employee benefits ORGANIC GROWTH - 7.5% |
| Services Diversification* | Services Diversification* FY 2020 166 | Services Diversification* FY 2019 183 | Services Diversification* ORGANIC GROWTH - 8.7% |
| BENEFITS & REWARDS SERVICES | BENEFITS & REWARDS SERVICES FY 2020 773 | BENEFITS & REWARDS SERVICES FY 2019 892 | BENEFITS & REWARDS SERVICES ORGANIC GROWTH - 7.8% |
* Including Incentive & Recognition, Mobility & Expenses and Public Benefits.
