Integrated Report Fiscal 2025

Message from Sophie Bellon

Our commitment to providing an inclusive environment across all our operations remains unwavering: 42% of the company’s Senior Executives are women. Talents are encouraged to develop career plans. In 2025, the average number of training hours per employee increased by 5.1%, reaching 12.4 hours per person per year. Our global employee benefits program Vita is now effective in more than 70% of the countries where we operate.

Progress has also been made on reducing carbon emissions, promoting sustainable eating, local partnerships and responsible sourcing, and fighting food waste.

As an illustration, we have achieved a -37.7% reduction in carbon emissions (scopes 1 and 2, compared to 2017 levels). Our objective—approved by the Science-Based Targets initiative (SBTi)—was to achieve -34% by 2025.

Moreover, we have invested to strengthen our commercial capabilities, notably by reinforcing our teams, rolling out training programs, and introducing new motivation and recognition schemes for our sales force. We have achieved encouraging wins and retention successes this year, among which GSK, MSD, Atlanticare, UC Health, Schools of Marseille, Santos, Tour de France. Since the pre-Covid years, we have regained positive net new growth.

”Building on these foundations, Sodexo is ready to open a new phase of development, one that will focus on commercial acceleration and operational execution to unlock the full potential of our business.”

While 2025 presented challenges, transformation is well underway – and we have many reasons to be confident about the future. We operate in a large and growing market with strong tailwinds. The global Food services market represents more than 300 billion euros— more than ten times our size—with annual growth of 4 to 5%. It is still 50% self-operated and it has proven to be structurally resilient through all major economic cycles. There are many opportunities for us to develop our services, with the outsourcing trend across all segments showing no sign of slowing down.

Furthermore, we have solid fundamentals. Sodexo is financially sound and independent. Our diversified footprint makes us very resilient. We have strong values and ethical principles, and we are recognized for that. Our long-standing mission gives purpose to our people and sets us apart in the industry. Finally, we have built a culture of service fueled by high-level employee engagement, at 80%.

Building on these foundations, Sodexo is ready to open a new phase of development, one that will focus on commercial acceleration and operational execution to unlock the full potential of our company.

We will keep on driving strategic focus on our core food business to gain leadership on chosen markets. Our vision for this next chapter is to be the leader in Food and Services, shaping better everyday experiences at every moment in life.

Our goal is to bring value to our clients within each environment—workplaces, hospitals and senior homes, schools and universities, remote sites, venues, and stadiums—by creating better experiences for their people. We make investment choices in favor of this experience. For example, for Corporate Services clients, we have reinforced our Employee Workplace Experience offer and invested in new food concepts, hospitality training to align the service experience, and technology to enhance the efficiency of our operations.

We will also continue to positively impact people and progress with purpose, in line with our mission to improve the quality of life of our employees and those we serve, and contribute to the economic, social, and environmental progress in the communities where we operate.

As pioneers in sustainability, we launched our first sustainability roadmap, Better Tomorrow, in 2009, making bold commitments and deploying our initiatives at scale, ahead of our competitors.

With Better Tomorrow 2028, we are now working to embed sustainability even more in our day-to-day operations. It is our 426,000 employees who, in the field, act to improve the lives of millions of consumers every day and support clients in their own sustainable transition by enhancing the social and environmental performance of their sites and thus having an impact on their communities.

As of November 10, a new chapter begins with the arrival of Thierry Delaporte as CEO. Thierry brings extensive and relevant experience to take Sodexo to the next level.

He embodies the human values we hold dear. I have confidence in his leadership to open this new chapter of our company’s journey and drive the next stages of Sodexo’s growth. We share the same belief that Sodexo’s future lies in combining human focus and operational excellence, and we are equally convinced that the Group’s unique strengths—its strong values, engaged teams, and culture of service— will continue to drive our success and set us apart in the industry.

As Chairwoman of the Board, I will now focus my efforts on leading the Board of Directors and its committees, ensuring strong governance for Sodexo. Together with my family, we remain deeply committed to preserving our Group’s long-term vision and financial independence. Our common ambition will be to drive enhanced growth, improve profit margin, and strengthen market share to support our continued success.

I want to express my heartfelt gratitude to all Sodexo teams for their dedication, passion, and what we have accomplished together. Their engagement fuels our collective success. I am also deeply grateful to our clients, shareholders, and partners for their continued trust and support, which make us progress and always aim for better. As we approach our 60th anniversary, Sodexo stands stronger than ever, ready to keep growing, innovating, and shaping the future of Food and Services.