Integrated Report Fiscal 2024

A long-term vision ensured 
through founding family shareholding

A long-term vision ensured through founding family shareholding

Sodexo’s independence is ensured through the shareholding of the family of Pierre Bellon, founder of the Company. This family-held control ensures a long-term vision and is one of the keys to Sodexo’s success. As of August 31, 2024, Bellon SA held 42.8% of Sodexo’s capital and 58% of the exercisable voting rights.

In June 2015, Mr. and Mrs. Pierre Bellon and their children entered into a 50-year agreement that prevents the direct descendants of Sodexo’s founder from freely disposing of their shares in Bellon SA. Bellon SA does not intend to sell its shareholding in Sodexo to third parties.

Sodexo’s sustained commitment to developing a successful offering, nurturing lasting client relationships and building a truly international organization reflects Bellon SA’s long-term vision.

To ensure this independence, a service agreement was concluded in 1991 between Sodexo and Bellon SA, and its last renewal was approved at the Shareholders Meeting on December 14, 2021, for a five-year period, to consolidate the position of Bellon SA as the Group’s managing holding company.

In Fiscal 2024, Sodexo has proceeded with the sale of Sofinsod to Bellon SA for 918 million euros, enabling the simplification of its shareholding structure and the monetization of an illiquid asset, Sofinsod being the holding company which held a 19.6% stake in Bellon SA. The proceeds of the sale were distributed in full to Sodexo’s shareholders through a special interim dividend of 6.24 euros per share.

CAPITAL STRUCTURE
As of August 31, 2024

This diagram represents the capital structure as of August 31, 2024.

  • Foreign Institutional shareholders: 43.4%.

  • French institutional shareholders: 70.0%.

  • Individual shareholders: 4.6%. 

  • Treasury shares: 0.7%.

  • EMPLOYEES: 1.5%.

  • BELLON SA: 42.8%.

  • PUBLIC* (see note *): 55.0%.

DISTRIBUTION OF EXERCISABLE  VOTING RIGHT
As of August 31, 2024

This diagram shows the distribution of exercisable voting right as of August 31, 2024.

  • BELLON SA: 58.0%.

  • PUBLIC* (see note *): 40.3%.

  • EMPLOYEES: 1.8%. 

Source : Nasdaq.

* Number of shares held as of June 30, 2024.