| REVENUES BY REGION(in million euros) | FISCAL 2022 | FISCAL 2021 | RESTATED ORGANIC GROWTH |
|---|---|---|---|
| North America | North America FISCAL 2022 3,047 |
North America FISCAL 2021 2,642 |
North America RESTATED ORGANIC GROWTH +6.1 % |
| Europe | Europe FISCAL 2022 2,106 |
Europe FISCAL 2021 1,838 |
Europe RESTATED ORGANIC GROWTH +0.7 % |
| Asia-Pacific, Latam, Middle East and Africa | Asia-Pacific, Latam, Middle East and Africa FISCAL 2022 305 |
Asia-Pacific, Latam, Middle East and Africa FISCAL 2021 281 |
Asia-Pacific, Latam, Middle East and Africa RESTATED ORGANIC GROWTH +8.5 % |
| HEALTHCARE & SENIORS TOTAL | HEALTHCARE & SENIORS TOTAL FISCAL 2022 5,459 |
HEALTHCARE & SENIORS TOTAL FISCAL 2021 4,762 |
HEALTHCARE & SENIORS TOTAL RESTATED ORGANIC GROWTH +4.0 % |
Healthcare & Seniors revenues amounted to 5.5 billion euros, up+ 4.0% organically.
In North America, organic growth was +6.1%, boosted by cross-selling, progressive recovery in hospital retail sales and Senior occupancy and pricing, particularly in the last two quarters. The contribution of net new business remained slightly negative, as the signings during the year have not yet fed through into revenues.
In Europe, organic growth was +0.7%, impacted by the early closure of the Testing Centers in the UK at the end of March 2022. This shortfall was compensated by the combination of pricing, new contracts in Seniors in France and some increase in volumes, especially in retail sales.
In Asia-Pacific, Latam, Middle East and Africa, organic revenue growth was a solid +8.5%, resulting from increased volumes, pricing and some new business.
| REVENUES BY REGION(in million euros) | FISCAL 2022 | FISCAL 2021 | RESTATED ORGANIC GROWTH |
|---|---|---|---|
| North America | North America FISCAL 2022 2,798 |
North America FISCAL 2021 2,013 |
North America RESTATED ORGANIC GROWTH +27.9 % |
| Europe | Europe FISCAL 2022 769 |
Europe FISCAL 2021 963 |
Europe RESTATED ORGANIC GROWTH +6.5 % |
| Asia-Pacific, Latam, Middle East and Africa | Asia-Pacific, Latam, Middle East and Africa FISCAL 2022 70 |
Asia-Pacific, Latam, Middle East and Africa FISCAL 2021 65 |
Asia-Pacific, Latam, Middle East and Africa RESTATED ORGANIC GROWTH +24.0 % |
| EDUCATION TOTAL | EDUCATION TOTAL FISCAL 2022 3,637 |
EDUCATION TOTAL FISCAL 2021 3,041 |
EDUCATION TOTAL RESTATED ORGANIC GROWTH +22.0 % |
Fiscal 2022 revenues in Education were 3.6 billion euros, up +22.0% organically.
In North America, organic growth was +27.9%, reflecting there opening of schools and universities from the beginning of the 2021 academic year. However, events and special catering activities remained restricted due to staff shortages and ongoing fears of the pandemic. In the fourth quarter, summer camps and conference activity was solid and the 2022 start of the academic year was helped by an extra day and higher levels of staffing.
In Europe, revenue was up +6.5% organically. All schools and universities were fully opened. However, meal volumes were impacted by high levels of absenteeism due to Covid-19 waves.
In Asia-Pacific, Latam, Middle East and Africa, organic growth was +24.0% reflecting reopening of schools and universities in China and India.
Fiscal 2022 Benefits & Rewards Services revenue amounted to 865 million euros, up +16.2%, helped by a +2.6% impact from currencies, offset somewhat by the impact of net disposals of -0.6%. As a result, organic growth was +14.2%.
| REVENUES BY ACTIVITY(in million euros) | FISCAL 2022 | FISCAL 2021 | ORGANIC GROWTH |
|---|---|---|---|
| Employee Benefits | Employee Benefits FISCAL 2022 711 |
Employee Benefits FISCAL 2021 577 |
Employee Benefits ORGANIC GROWTH +18.7 % |
| Services Diversification* | Services Diversification* FISCAL 2022 154 |
Services Diversification* FISCAL 2021 168 |
Services Diversification* ORGANIC GROWTH -1.3 % |
| BENEFITS & REWARDS SERVICES | BENEFITS & REWARDS SERVICES FISCAL 2022 865 |
BENEFITS & REWARDS SERVICES FISCAL 2021 745 |
BENEFITS & REWARDS SERVICES ORGANIC GROWTH +14.2 % |
* Including Incentive & Recognition, Mobility & Expenses and Public Benefits.
Employee Benefits organic growth was +18.7%, accelerating quarter by quarter, and reaching +23.1% in the fourth quarter. Issue volume amounted to 14.3 billion euros for the year and was up +16.2% organically, boosted by strong net new business leveraging digital products and enhanced sales efficiency, as well as face value increases. Financial revenues were also up strongly supported by rising interest rates, particularly in Latin America and Eastern Europe.
Services Diversification was down -1.3% organically for the year. Public Benefits fell back significantly during the year after a very strong Covid-linked performance, offsetting the solid grow thin mobility solutions in Latin America.
