Integrated Report Fiscal 2024

Summary of performance
and strategic moves

Summary of performance and strategic moves

Capitalizing on solid foundations and operating in attractive and growing markets, the Group continued the implementation of its 2025 strategic plan and accelerated the transformation of its business model during Fiscal 2024.

Simplification and streamlining of Sodexo

Fiscal 2024 has been a transformative year focused on simplification and streamlining. The Group took decisive steps to refocus the company, highlighted by the spin-off of Pluxee and the simplification of the shareholding structure. These moves follow previous initiatives to rationalize the portfolio and reorganize the operational structure.

Pluxee spin-off

The Pluxee spin-off was successfully concluded with the detachment and first listing of Pluxee shares on Euronext Paris on February 1, 2024, and the delivery of the Pluxee shares to shareholders on February 5, 2024. The resolution proposed by the Board of Directors to approve the exceptional distribution in kind of one Pluxee share for every Sodexo share held was adopted at 99.96% during the Shareholders Meeting held on January 30, 2024. Following the Pluxee spin-off, Sodexo is now a pure player in Food and Facilities Management services.

Simplification of the ownership structure

On August 23, 2024, Sodexo sold its 19.6% stake in Bellon SA, via its subsidiary Sofinsod, to Bellon SA for 918 million euros, enabling the simplification of Sodexo’s shareholder structure. This transaction allowed Sodexo to unwind the crossholding and monetize an illiquid and undervalued asset. The sale proceeds were distributed in full to Sodexo shareholders in the form of a special interim dividend of 6.24 euros per share at the end of August 2024.

Portfolio management

  • Homecare Disposal: Sodexo sold its worldwide Homecare division including subsidiaries in the U.S., UK, Ireland, France, Scandinavian countries and Brazil at the end of October 2023. This sale marked another signifiant step forward in the implementation of the 2025 strategic plan, to focus on delivering sustainable food and valued experiences to clients and consumers.
  • InReach development: Sodexo has expanded its multi-channel food offerings in the United States, through five strategic bolt-on acquisitions during the year. By developping InReach, Sodexo is providing its traditional sites with a strong tech platform and a complementary portfolio of services, including micro markets, pantry, office coffee and vending, and further increasing the company's footprint in the region.
  • China expansion: in April 2024, Sodexo completed the acquisition of the Compass Mainland China business. Since entering the Chinese market in 1995, a market with undeniable long term growth potential, this acquisition strengthens Sodexo’s position in Food services, enhancing its presence and service offerings in Mainland China with contracts in the corporate, education, and healthcare environments.

SODEXO SHARE DATA SHEET

  • Main listing place: Euronext Paris - A Compartment
  • ISIN code: FR0000121220
  • Mnemonic code: SW
  • Main index : CAC Next 20, SBF 120, CAC 40 ESG, CAC 40 1.5, Euronext 100, CAC All Share, FTSE4Good, ESG 80, and the Dow Jones Sustainability Index.
  • Euronext listing date: March 2, 1983
  • S&P rating stable at BBB+/A-2

KEY INDICATORS (as of August 31, 2024)

  • Total number of shares: 147 454 887 shares
  • Closing price: 80.5 euros
  • Market capitalization: 11.9 billion euros
  • Sodexo share price trend during Fiscal 2024: +16.4%
  • CAC 40 trend during Fiscal 2024: +4.5%
  • Underlying earnings per share: 5.29 euros
  • Ordinary dividend per share, submitted for approval at the Shareholders Meeting of December 17, 2024: 2.65 euros (as well as the special interim dividend of 6.24 euros paid in August).