Sodexo's financial objectives are twofold, namely:
Financial independence is a fundamental principle, because it enables the Group to hold firm to its values, pursue a long-term strategic vision, ensure management continuity and guarantee the business’s lasting success.
Sodexo’s financial independence is guaranteed by the family shareholding.
As of August 31, 2021 , Sodexo’s family holding company, Bellon SA, held 42.8% of the shares and 57.2% of the exercisable voting rights. This financial independence is based on three simple principles:
Financial policies establish rules applicable to areas such as investment approvals, and the management of working capital, cash and debt.
Sodexo's financial policies require all decisions involving external financing to be made by the Group Chief Financial Officer, the Chief Executive Officer or the Board of Directors, depending on the amount and type of the transaction.
The Group Finance Department prepares a ten-year financing plan for the Group each year.
Financial policies are designed to prevent any speculative positions being taken and to avoid risk in connection with financing and cash management activities.
The objectives of the procurement function are documented in the Group’s procurement policies and processes. The performance of Sodexo’s procurement teams in the main countries where it does business is measured through savings metrics, which enable the Group to gauge the impacts of procurement initiatives and demonstrate the savings achieved.
Sodexo's priority is to ensure that suppliers and subcontractors that deliver Sodexo products and services have the right skills, capabilities and potential to carry out the tasks assigned to them. Our risk management guidelines set out the procurement procedures that our teams are required to follow in terms of working with and managing suppliers and subcontractors. The level of the initial evaluation and the management procedures for suppliers and sub-contractors directly depend on the product supplied or service rendered. It includes verifying issues such as food safety and traceability, certification to conduct work particularly in the Facilities Management area, along with financial due diligence checks.
In line with the procurement policy, suppliers and subcontractors must sign the Sodexo Supplier Code of conduct which sets out Sodexo’s requirements for adopting responsible best practices concerning ethical, social and environmental issues.
The Business Integrity Guide sets out the Group’s standards for achieving business integrity. Adherence to these uncompromising standards is part of what it means to be an employee of an industry-leading, best-in-class company. Sodexo employees must never compromise adherence to this guide for financial or other business objectives or personal gain. Sodexo does not tolerate any practice that is not born of honesty, integrity and fairness, anywhere in the world where it does business.
Since its creation in 1966, Sodexo’s vocation has been to improve the Quality of Life for its employees and all whom it serves and contribute to the economic, social and environmental development of the communities, regions and countries in which it operates. We have formalized this commitment in our Corporate Responsibility roadmap, Better Tomorrow 2025.
Better Tomorrow 2025 focuses on Sodexo’s role as an employer, as a service provider and as a corporate citizen as well as on the impacts that it has on individuals, on communities and on the environment. It has 9 measurable commitments to action by 2025 with interim targets.
Sodexo’s commitment to the environment as a service provider is to source responsibly and provide management services that reduce carbon emissions. Since 2009, Sodexo has implemented a low carbon strategy which is motivated by our desire to improve Quality of Life. Our strategy takes into account the business opportunities, risks and their financial implications.
In particular, these commitments are demonstrated through the following actions:
