| REVENUES BY SEGMENT (in million euros) | FISCAL 2023 | FISCAL 2022 | ORGANIC GROWTH |
|---|---|---|---|
| Business & Administrations | Business & Administrations FISCAL 2023 3,866 |
Business & Administrations FISCAL 2022 2,983 |
Business & Administrations ORGANIC GROWTH +23.4 % |
| Healthcare & Seniors | Healthcare & Seniors FISCAL 2023 3,440 |
Healthcare & Seniors FISCAL 2022 3,047 |
Healthcare & Seniors ORGANIC GROWTH +8.8 % |
| Education | Education FISCAL 2023 3,173 |
Education FISCAL 2022 2,798 |
Education ORGANIC GROWTH +9.1 % |
| NORTH AMERICA TOTAL | NORTH AMERICA TOTAL FISCAL 2023 10,479 |
NORTH AMERICA TOTAL FISCAL 2022 8,828 |
NORTH AMERICA TOTAL ORGANIC GROWTH +13.9 % |
Fiscal 2023 North America revenues totaled 10.5 billion euros, up +13.9% organically. This strong growth resulted from the post-Covid recovery in the first half, and the acceleration of revenue contribution from net development and cross-selling in the second half. The growth was also driven by consistent 5% price revisions throughout the fiscal year, although with a slight decrease in the fourth quarter as the cost inflation drivers on cost plus accounts declined.
Organic growth in Business & Administrations was +23.4%, boosted by the return to the office and new contracts in Corporate Services, increased activity in Sports events, convention centers and airport lounges, with increased passenger counts and higher spend per capita, as well as inflation pass-through. Although coming from a smaller base, Convenience solutions and Entegra also contributed to the momentum with strong organic growth.
In Healthcare & Seniors, revenues were up +8.8% organically, driven by price increases, cross-selling and retail volume improvement. The net new development contribution has accelerated through-out the year with the full impact of the Ardent mobilization, now visible in the second half.
In Education, organic growth was up +9.1% compared to the previous year, driven by Universities up +13.4%, benefiting from strong attendance levels, price increases, and a higher level of board plans, retail sales and event catering. In Schools, growth was slightly negative, the impact of price adjustments being offset by decreases in meal volumes related to the reduction of government waiver eligibility for students.
| REVENUES BY SEGMENT (in million euros) | FISCAL 2023 | FISCAL 2022 | ORGANIC GROWTH |
|---|---|---|---|
| Business & Administrations | Business & Administrations FISCAL 2023 5,337 |
Business & Administrations FISCAL 2022 4,898 |
Business & Administrations ORGANIC GROWTH +12.2 % |
| Healthcare & Seniors | Healthcare & Seniors FISCAL 2023 2,026 |
Healthcare & Seniors FISCAL 2022 2,106 |
Healthcare & Seniors ORGANIC GROWTH -2.4 % |
| Education | Education FISCAL 2023 708 |
Education FISCAL 2022 769 |
Education ORGANIC GROWTH +4.4 % |
| EUROPE TOTAL | EUROPE TOTAL FISCAL 2023 8,071 |
EUROPE TOTAL FISCAL 2022 7,774 |
EUROPE TOTAL ORGANIC GROWTH +7.5 % |
Fiscal 2023 Europe revenues totaled 8.1 billion euros, up +7.5% organically, or +10.6% excluding the impact of the end of the Testing Centers in the United Kingdom. The growth was driven by strong price revisions, continued improvement in return to the office and very strong Sports & Leisure activity. Thanks to a strong fourth quarter in Sports & Leisure in France and new business in Government in the United Kingdom, combined with high level of growth in Corporate services, organic growth in the fourth quarter in Europe was +9.0%, trending favorably compared to the third quarter which was at +6.9% excluding the impact of Testing Centers affected by strikes and bank holidays.
In Business & Administration, organic growth was +12.2%, boosted by strong price revisions, continued improvement in the return to the office, significant IFM (Integrated Facilities management) project works and retail picking up, particularly in Continental Europe. Sports & Leisure growth was very strong, boosted by record sales in tourism in France, sports events (Roland Garros and Tour de France), and an increase in number and size of corporate events.
This was somewhat offset by contract losses in Energy & Resources in Northern Europe.
In Healthcare & Seniors, organic growth of -2.4% was impacted by the end of the Testing Centers. The rest of the business was +9.1%, with the contribution of new openings and solid occupancy in Seniors particularly in France.
Organic revenue growth in Education was +4.4%, reflecting in the first half some volume recovery following the impact of Covid lock downs in the previous year. The third quarter was affected by strikes in France and an overall increase in bank holidays, offset in the fourth quarter by positive impact of working days. Pricing contribution was lower than in most segments, particularly in France where passing on inflation was hampered by the use of inadequate indices. Revenues decreased by 61 million euros compared to prior year due to the disposal of the Childcare business during Fiscal 2022.
| REVENUES BY SEGMENT (in million euros) | FISCAL 2023 | FISCAL 2022 | ORGANIC GROWTH |
|---|---|---|---|
| Business & Administrations | Business & Administrations FISCAL 2023 3,659 |
Business & Administrations FISCAL 2022 3,285 |
Business & Administrations ORGANIC GROWTH +11.5 % |
| Healthcare & Seniors | Healthcare & Seniors FISCAL 2023 337 |
Healthcare & Seniors FISCAL 2022 305 |
Healthcare & Seniors ORGANIC GROWTH +6.2 % |
| Education | Education FISCAL 2023 91 |
Education FISCAL 2022 70 |
Education ORGANIC GROWTH +35.1 % |
| REST OF THE WORLD TOTAL | REST OF THE WORLD TOTAL FISCAL 2023 4,087 |
REST OF THE WORLD TOTAL FISCAL 2022 3,661 |
REST OF THE WORLD TOTAL ORGANIC GROWTH +11.5 % |
