H1 16 - Sodexo

Transcription

H1 16 - Sodexo

Sodexo
Group Presentation
April 2016
A
G
E
N
D
A
2–
Sodexo Overview, April 2016
1. SODEXO AT A GLANCE
2. H1 FISCAL 2016 RESULTS
3. FISCAL 2015 SOLID FINANCIAL
PERFORMANCE
4. OUTLOOK
5. SHAREHOLDERS & INVESTOR
RELATIONS
6. APPENDICES
SODEXO AT A
GLANCE
3 – Sodexo Overview, April 2016
SODEXO AT A GLANCE
SODEXO: KEY FACTS AS PER FISCAL 2015
€19.8 bn Revenues
Founded in 1966 by Pierre Bellon
420,000 employees
Bellon S.A, 37.7% (53% of voting rights)
Main Shareholders:
International Institutional investors, 41.9%
19th largest employer worldwide
75 million consumers served daily
32,200 sites
80 countries
€14.3 bn Market capitalization
(as per April’16) – CAC 40 Index
Strong
Investment
Grade Rating
S&P A-
SODEXO AT A GLANCE
OUR MAJOR STRENGTHS
Independence
A global network
covering
80 countries
A unique range of
Quality of Life Services
particularly well aligned
with evolving client demand
Undisputed
leadership in
developing
economies
A robust
financial model
that allows Sodexo
to self-finance its
development
Significant
market
potential
A strong culture
and engaged
teams
SODEXO AT A GLANCE
WORLD LEADER IN QUALITY OF LIFE SERVICES
An unrivaled array of services through 3 activities:
ON-SITE
SERVICES
BENEFITS AND
REWARDS SERVICES
PERSONAL AND
HOME SERVICES
8 client segments:
5 service categories:
3 service categories:
Corporate
Remote Sites
Defense
Justice
Sports & Leisure
Health Care
Seniors
Education
Employee Benefits
Incentives and
Recognition
Public Benefits
Gift
Expense
Management
Childcare
In-Home Senior
Care
Concierge services
page 6
SODEXO AT A GLANCE
INTEGRATED QUALITY OF LIFE SERVICES OFFER
SODEXO AT A GLANCE
FISCAL 2015 REVENUE distribution
Revenue
by activity and client segment
96%
On-site Services
30%
9%
4%
4%
4%
Distribution
by geographic region
Corporate
Remote Sites
North
America
41%
Defense
Continental
Europe
31%
Sports and Leisure
Justice Services
18%
6%
Health Care
Seniors
21%
Education
Benefits and Rewards Services
Issue volume of €16.4 billion
4%
United
Kingdom
and Ireland
10%
Rest of
the World
18%
SODEXO AT A GLANCE
SODEXO’S VALUE PROPOSITION
Maximizing value added with a unique and differentiating offer…
DESIGN
MANAGE
DELIVER
… adapted to client priorities :
Increase people
satisfaction, motivation
and effectiveness
Enhance processes
quality, efficiency
and productivity
Improve infrastructure
and equipment utilization,
reliability and safety
To deliver
Enhanced Quality of life to client employees
Support for client development and achievement of objectives
SODEXO AT A GLANCE
KEY GROWTH DRIVERS
OVERALL
A global economy in which capital, information,
talents and trade are continuously interconnected
Rapid urbanization and development of megacities
Emerging market demand: transfer of economic
power to new emerging countries and a rising
middle class
Increased public deficits that create additional
pressures to find savings through outsourcing
Development of new information and
communication technologies
The growing influence of consumers seeking
wellbeing, quality of life, improved health and
personalized service
Environmental issues
Outsourcing and consolidation of multiple
service providers
SEGMENT SPECIFIC
HEALTH CARE, SENIORS AND EDUCATION
Demographic change (population growth,
life expectancy, expanding number of
students, etc.)
REMOTE SITES
Oil, gas and mining projects due to
energy/raw material prices/demand
BENEFITS AND REWARDS
Battle for talent, work/life balance,
welfare policies
Employee retention and motivation
PERSONAL AND HOME SERVICES
Employee motivation, work/life balance,
aging population
SODEXO AT A GLANCE
SODEXO : REGULAR AND SUSTAINED PERFORMANCE
+4.3% CAGR over 15 years
SODEXO AT A GLANCE
SODEXO : REGULAR AND SUSTAINED PERFORMANCE
SODEXO AT A GLANCE
BENEFITS AND REWARDS: THE PASS CYCLE
Payment of
the value
SODEXO PASS
CLIENTS
Delivery
of the Pass
Reimbursement
of the value
Presentation
of the Pass for
reimbursement
Distribution
of the Pass
BENEFICIARIES
AFFILIATED MERCHANTS
Use
of the Pass
SODEXO AT A GLANCE
SODEXO’S DEVELOPMENT - 50 years of history
1966
1983
2005
2016
Sodexo
founded
by Pierre
Bellon
IPO of Sodexo on
Paris stock exchange
Michel Landel
becomes CEO,
Pierre Bellon
remains Chairman
of the Board of
2009
Directors
Sodexo refines
its strategic
positioning
Sophie Bellon
Chairwoman
of the Board
of Directors
1971 - 1978
International
expansion
starts
Service
Vouchers
launched
1985 - 1993
International
development:
Americas, Russia,
South Africa & Asia
Acquisitions
1998-2001
1995
Gardner Merchant UK,
Partena Sweden
Sodexo Marriot
Services US
2001
Sogeres France, Wood
Dining Services US
2007-2010
VR Brazil, Score Groupe
and Crèche Attitude
France, Zehnacker
Germany, Comfort
Keepers & Circles US,
RKHS India
2011-2012
Puras do Brasil
Brazil, Lenôtre
France, Roth Bros
US
H1 FISCAL 2016
RESULTS
HIGHLIGHTS OF THE PERIOD
H1 16
Continuity in governance
Sophie Bellon succeeds Pierre Bellon as Chairwoman
of the Board of Directors
Recognized strategy and performance
Sodexo joins the CAC 40
Signature of a major contract for the Group
Rio Tinto
Renewed recognition of Sodexo's societal commitments
RobecoSAM Sustainability Yearbook 2016: Number 1 in sustainable development in its sector,
for the 9th consecutive year
United Nations: Women’s Empowerment Principles CEO Leadership Award
A MAJOR CONTRACT IN THE GROUP’S HISTORY: RIO TINTO
UNPARALLELED VALUE FOR THE CLIENT
Technical expertise and global experience
Sophisticated services in a variety
of complex environments
• 1.7bn euros over 10 years
• 500,000 sq.km
• ports, towns, aerodromes, operational sites,
houses, etc.
Sustainable energy management
with cost savings
A strong commitment to employing
members of the local aboriginal
communities
PERFORMANCE IN LINE WITH OBJECTIVES
Reported revenue
€10.6bn
Operating profit*
€658m
Operating margin*
Exceptional expenses
+6.7%
+3.7%
+2.5%
Total growth
Organic growth
Organic growth
excluding Rugby
6.2%
€37m
* Excluding exceptional expenses related to the adaptation and simplification program (€37m in H1 2016)
H1 16
+ 7.9%
Excluding currency
effects
+ 30 bps
Excluding currency
effects
SOLID NET PROFIT AND CASH POSITION
Group net profit
€383m
Before exceptionals*
€359m
+ 11.7%
+ 4.7%
After exceptionals*
Free cash flow
€54m
* Exceptional expenses (net of taxes) related to the adaptation and simplification program
+ 5.9%
H1 16
+ 11.2%
Excluding currency
effects
+ 4.6%
Excluding currency
effects
DYNAMIC GROWTH
H1 16
Revenue growth
+ 6.7%
Currency effect
+ 2.9%
Scope changes
+ 0.1%
Organic growth
+ 3.7%
of which:
On-site Services
+ 3.6%
+ 6.3%
GROWTH IN OPERATING PROFIT*
H1 16
+ 30 bps
EXCLUDING
CURRENCY
EFFECTS
Operating
margin*
6.5%
At constant exchange rates
6.2%
At current exchange rates
6.2%
658
620
Operating
profit*
+ 7.9%
EXCLUDING
CURRENCY
EFFECTS
€ millions
H1 2015
* Excluding exceptional expenses related to the adaptation and simplification program (€37m in H1 2016)
H1 2016
LAUNCH OF ADAPTATION AND SIMPLIFICATION
PROGRAM
H1 16
Faster alignment of on-site operating expenses
Organizational simplification
Increased international pooling of resources
ANNUAL SAVINGS OF AROUND
€200M IN FISCAL 2018
Gradual increase in savings
from H2 2016
100% payback by Fiscal 2018
EXCEPTIONAL EXPENSES
OF AROUND €200M
September 2015 to February 2017
Of which €37m in H1 2016 and
around €100m in Fiscal 2016
GROWTH IN CONSOLIDATED INCOME
H1 2016
H1 2015
10,596
9,931
658
620
6.2%
6.2%
Exceptional expenses
(37)
-
Operating profit
621
620
Net financial expense
(49)
(79)
35.5%
35.5%
before exceptional expenses (after tax)
383
Group net profit
Diluted earnings per share
(diluted)
Operating profit
before exceptional expenses
Operating margin
Effective tax rate
Group net profit
CHANGE
Excluding
current
At
exchange rates currency effect
€ millions
Revenues
H1 16
+6.7%
+3.8%
+6.1%
+7.9%
=
+30 bps
343
+11.7%
+11.2%
359
343
+4.7%
+4.6%
2.33
2.23
+4.5%
+4.5%
CONSOLIDATED CASH FLOW
€ millions
Operating cash flow
H1 16
H1 2016
H1 2015
587
483
(314)
(248)
273
235
(176)
(160)
(43)
(24)
Free cash flow
54
51
Net acquisitions
(39)
(45)
Share repurchase program
(193)
-
Dividends
(335)
(275)
34
(9)
(104)
(156)
(583)
(434)
Change in working capital*
Net cash provided by operating activities
Net capital expenditure
Less change in financial assets
related to the Benefits and Rewards Services
Other changes in shareholders' equity
Other changes (including scope and exchange rates)
(Increase)/decrease in net debt
*Including change in financial assets in Benefits and Rewards Services of €43M in H1’16 and €24M in H1’15.
24 –
CHANGE
+21.5%
+16.2%
+5.9%
CONSOLIDATED BALANCE SHEET
H1 16
ROBUST RATIOS
€ millions
February 29, February 28,
2016
2015
February 29, February 28,
2016
2015
Non-current assets
7,357
7,447
Shareholders’ equity
Current assets
excluding cash
4,855
5,000
Non-controlling interests
689
749
1,224
1,573
14,125
14,769
Financial assets related to
the Benefits and Rewards
Services
Cash
Total assets
Operating cash: €1,877m*,
o/w Benefits and Rewards Services
cash investments and restricted cash: €1,510m
* Benefits and Rewards Services financial assets + Cash – Bank overdrafts
25 –
3,562
3,514
45
40
Non-current liabilities
3,698
3,812
Current liabilities
6,820
7,403
14,125
14,769
Net debt
923
805
Gearing ratio
26%
23%
Total liabilities & equity
ON-SITE SERVICES
SUCCESS OF INTEGRATED QUALITY OF LIFE
SERVICES OFFERS
H1 16
H1 organic
growth
Corporate
53%
Contribution of Rugby World Cup contract
Ramp-up of integrated service contracts,
especially in North America and the United Kingdom
+5.0%
Steep decline in Remote Sites activity
Health Care and Seniors
25%
Growth in the United States
+2.7%
Limited contract wins in Europe
End of contracts in France
Education
22%
% of Fiscal 2015
On-site Services revenues
Modest growth in revenues from existing contracts
and selective approach to new business in Europe
+1.5%
ON-SITE SERVICES
H1 16
3.6% ORGANIC GROWTH
United Kingdom
and Ireland
North
America + 3.6%
Continental
+ 1.6% Europe
+ 27.0%
+ 12.2%
excluding
Rugby
Rest of
the World
+ 7.2%
excluding
Remote Sites
- 4.4%
ON-SITE SERVICES
H1 16
NORTH AMERICA
€ millions
Revenues
Favorable
currency
effect
4,014
Organic
growth
4,602
Corporate
26%
Robust growth in the Corporate segment
Acquisitions
36%
+3.6%
Compelling contract wins
Education
38%
H1 2016
+0.8%
Limited contract wins in prior year
Increase in the number of meals
served per site
% of Fiscal 2015
revenues
+4.6%
Q1 impact of withdrawal
from ManorCare contract
ORGANIC
GROWTH
H1 2015
+7.5%
ON-SITE SERVICES
H1 16
NORTH AMERICA
€ millions
Operating profit *
+40 bps
7.5%
7.1%
344
284
+9.6%
Increased offer and menu
standardization
CHANGE
EXCLUDING
CURRENCY
EFFECT
Lower overheads
H1 2016
H1 2015
Operating margin
* Excluding exceptional expenses related to the adaptation and simplification program
29 –
Optimized food purchases
cost savings
ON-SITE SERVICES
H1 16
CONTINENTAL EUROPE
€ millions
Revenues
Corporate
2,926
Organic
growth
Changes
in scope
of consolidation
61%
2,943
Unfavorable
currency
effect
+3.3%
Contribution of integrated services
contracts
Solid growth at existing Corporate sites
+1.6%
ORGANIC
GROWTH
23%
-3.1%
Selective approach to new business,
especially in France
H1 2015
H1 2016
Education
16%
% of Fiscal 2015
revenues
Higher volumes in
Germany and France
+2.1%
ON-SITE SERVICES
H1 16
CONTINENTAL EUROPE
€ millions
Operating profit *
+30 bps
4.6%
4.3%
Productivity gains at existing sites
127
+7.5%
136
CHANGE
EXCLUDING
CURRENCY
EFFECT
H1 2015
H1 2016
Operating margin
Efficient management of food costs
ON-SITE SERVICES
UNITED KINGDOM AND IRELAND
€ millions
H1 16
Revenues
Corporate
+35.9%
73%
Organic
growth
Favorable
currency
effect
Contribution of €131m Rugby World Cup
contract in Q1 2016
1,103
Acquisitions
End of ramp-up phase for Justice contracts
(launched in February 2015) and Corporate
contracts (launched in H2 2015)
Other
821
Rugby
+27.0%
19%
+12.2%
excl. Rugby
ORGANIC GROWTH
H1 2015
8%
% of Fiscal 2015
revenues
End of ramp-up phase for new contracts
won in prior year
Education
H1 2016
+1.3%
Strong business development
+15.1%
ON-SITE SERVICES
UNITED KINGDOM AND IRELAND
€ millions
H1 16
Operating profit *
+160 bps
6.0%
Favorable basis of comparison (high
contract start-up costs in Fiscal 2015)
4.4%
Efficiency gains on overheads
66
36
Optimized management
of food purchases
+74.3%
CHANGE
EXCLUDING
CURRENCY
EFFECT
H1 2015
Contribution of Rugby World Cup
H1 2016
Operating margin
33 –
ON-SITE SERVICES
H1 16
REST OF THE WORLD*
€ millions
Revenues
Corporate
1,745
-6.1%
90%
Organic
growth
-4.4%
Sharp 18% decline in Remote Sites
revenues
1,558
Acquisitions
Unfavorable
currency
effect
Strong business development dynamic
+7.2%
excluding
Remote Sites
6%
ORGANIC GROWTH
H1 2015
* Latin America, Africa, Middle East, Asia,
Australia and Remote Sites
Continued steady growth
in Latin America and Asia
H1 2016
4%
% of Fiscal 2015
revenues
+20.6%
Education
-0.4%
ON-SITE SERVICES
H1 16
REST OF THE WORLD
€ millions
Operating profit *
4.2%
-140 bps
2.8%
Significant operating cost reductions,
not sufficient to offset sharply lower
volumes
74
-44.9%
CHANGE
EXCLUDING
CURRENCY
EFFECT
43
H1 2016
H1
2016
H1 2015
Operating margin
35 –
Challenging economic environment
in Latin America and mining and oil
and gas industries
BENEFITS AND REWARDS SERVICES
H1 16
ISSUE VOLUME AND REVENUES
Issue volume
Revenues
€ billions
8.6
€ millions
Organic
growth
Acquisitions
8.2
428
Organic
growth
Acquisitions
393
Unfavorable
currency
effect
Unfavorable
currency
effect
+6.5%
+6.3%
ORGANIC
GROWTH
ORGANIC
GROWTH
H1 2015
H1 2016
H1 2015
Resilience in Latin America
Ongoing growth in Europe and Asia
For organic growth calculation, H1 2016 revenues in Venezuelan bolivar are converted at the Fiscal 2015 exchange rate (USD 1 = VEF 199).
36 –
H1 2016
H1 16
Latin America
€ billions
€ millions
Issue volume
Revenues
52%
Fiscal
2015
Organic
growth
Acquisitions
229
4.0
Organic
growth
Acquisitions
186
3.3
Unfavorable
currency
effect
Unfavorable
currency
effect
+9.6%
+9.5%
ORGANIC
GROWTH
ORGANIC
GROWTH
H1 2015
H1 2016
H1 2015
Higher face values and higher interest rates
Contract wins but decline in number of beneficiaries in Brazil
Healthy growth in Mexico and Chile
For organic growth calculation, H1 2016 revenues in Venezuelan bolivar are converted at the Fiscal 2015 exchange rate (USD 1 = VEF 199).
37 –
H1 2016
H1 16
Europe and Asia
Issue volume
€ billions
€ millions
Revenues
48%
Fiscal
2015
4.6
Organic
growth
Acquisitions
Favorable
currency
effect
4.9
199
Organic
growth
Favorable
Changes
currency
in scope
of consolidation effect
+3.8%
+2.8%
ORGANIC
GROWTH
ORGANIC
GROWTH
H1 2015
H1 2016
H1 2015
Solid momentum in Turkey and the Czech Republic
Modest growth in Western Europe
38 –
207
H1 2016
H1 16
OPERATING PROFIT
€ millions
Operating profit *
37.8%
at constant
rates
36.9%
33.8%
at current rates
Change
excluding
currency effect
Negative impact of exchange rates
(mainly BRL)
Unfavorable
currency effect
158
133
+13.1%
CHANGE
EXCLUDING
CURRENCY
EFFECT
H1 2015
H1 2016
39 –
Tight control of overheads
and operating costs
FISCAL 2015
SOLID FINANCIAL
PERFORMANCE
FY 15
SOLID FINANCIAL PERFORMANCE
Revenues
€19.8 billion
+10%
Total growth
+2.5%
Organic
growth
Operating profit
€1,143 million
Operating margin
5.8%
+11.9%*
Excluding
currency effects
+40 bps*
vs fiscal 2014
excluding currency
effects
+90 bps*
Over two years
excluding currency
effects
* Before exceptional items related to the operational efficiency improvement program in Fiscal 2014.
FY 15
A STRONGER FINANCIAL POSITION
Group Net Income
€700 million
Free cash flow
€688 million
Net debt (as of August 31, 2015)
Gearing ratio
Share repurchase program
(as announced on Nov 2015)
Excluding
currency effects
+42.9%
+14.3%
€339 million
9%
As of August 31, 2015
Proposed dividend per share
+32.4%
€2.20
€300 million
12%
As of August 31, 2014
+22.2%
FY 15
ORGANIC GROWTH
Organic growth: +2.5%
of which:
On-site Services
+2.2%
+9.5%
FY 15
ON-SITE SERVICES
ORGANIC GROWTH OF +2.2%
United Kingdom
and Ireland
North
America
+12.8%
+1.5%
+1.7%
Rest of
the World
Continental
+0.6% Europe
ON-SITE SERVICES
FY 15
SUCCESSFUL INTEGRATED OFFERS
AND QUALITY OF LIFE POSITIONING
Corporate
Contract start-ups in Justice segment in the United Kingdom
Dynamic growth in integrated services in the United States
Growth in Remote Sites at the start of the year
+3.9%
ORGANIC
GROWTH
Impact of partial exit from HCR ManorCare
in the United States
Limited business development in Europe
Education
More selective approach to new business
Contract wins in emerging markets
+1.2%
ORGANIC
GROWTH
-0.7%
ORGANIC
GROWTH
FY 15
ON-SITE SERVICES
GROWTH INDICATORS
Client retention
93.4%
Comparable
unit growth
Business
development
93.1%
7.1%
2.5%
Fiscal 2014 Fiscal 2015
including voluntary contract terminations
7.5%
2.2%
FY 15
ORGANIC GROWTH
Latin America
Increase in face values and higher interest rates
Europe and Asia
Accelerated growth led by contract wins
in Turkey, India and China
+14.4%
ORGANIC GROWTH
IN REVENUES
+3.8%
ORGANIC GROWTH
IN REVENUES
FY 15
INCREASE IN OPERATING PROFIT*
+40 bps
Operating
margin
5.8%
5.4%
1,143
966
Operating
profit
+11.9%
EXCLUDING
CURRENCY
EFFECTS
€ millions
Fiscal 2014
* Excluding currency effects exceptional items in Fiscal 2014 related to operational efficiency program
Fiscal 2015
INCREASE IN OPERATING MARGIN*
FY 15
United Kingdom
and Ireland
North
America
5.1%
6.3%
4.2%
+60 bps
+10 bps
+100 bps
Continental
Europe
4.6%
+40 bps
34.5%
Rest of
the World
+0 bps
at constant
exchange rates
Benefits
& Rewards
Services
* Excluding currency effects exceptional items in Fiscal 2014 related to operational efficiency program
FY 15
OPERATIONAL EFFICIENCY PROGRAM
€ millions
Fiscal 2013
28
ACHIEVED
ANNUAL
SAVINGS
Fiscal 2014
Fiscal 2015
EXCEPTIONAL
IMPLEMENTATION
EXPENSES
Cumulative
over 18 months
(Sept. 2012-Feb. 2014)
100
170
166
FY 15
INCREASED CONSOLIDATED RESULTS
Fiscal 2015
Fiscal 2014
CHANGE
€ millions
€ millions
At current
exchange rates
19,815
18,016
+10.0%
+2.6%
1,143
966
+18.3%
+11.9%
0
(27)
Operating profit
1,143
939
+21.7%
+15.1%
(107)
(173)
Income tax
(320)
(265)
+42.9%
+32.4%
Revenues
Operating profit
before exceptional items
Exceptional items
Effective tax rate
31.1%
34.8%
Non-controlling interests/
Equity-accounted companies
(16)
(11)
Group net income
700
490
At constant
exchange rates
FY 15
CONSOLIDATED CASH FLOW
€ millions
Operating cash flow
973
708
(353)
(294)
68
188
Free cash flow
688
602
Net acquisitions
(49)
(50)
Change in shareholders’ equity
(323)
(282)
Other changes (including scope and exchange rates)
(284)
(163)
32
107
Net capital expenditure
Change in working capital
(Increase)/decrease in net debt
CHANGE
+37.4%
+14.3%
FY 15
CONSOLIDATED BALANCE SHEET
ROBUST RATIOS
Aug. 31,
Aug. 31,
Aug. 31,
Aug. 31,
2015
2014
2015
2014
Non-current assets
7,334
6,852
Shareholders’ equity
3,710
3,189
Current assets
excluding cash
4,396
4,120
Non-controlling interests
34
32
739
758
Non-current liabilities
3,593
3,830
2,008
2,748
Current liabilities
7,140
7,427
14,477
14,478
14,477
14,478
Net debt
339
371
Gearing ratio
9%
12%
€ millions
Financial assets related
to the BRS activity
Cash
Total assets
Operating cash totaled €2,708 million,
of which €1,476 million
related to Benefits and Rewards Services
€1,476
million
Total liabilities & equity
FY 15
INTEGRATED SERVICES OFFER BOOSTED
BY INVESTMENTS IN FACILITIES MANAGEMENT
FM
as a percentage of revenue
FM
as a percentage of revenue
18%
Fiscal 2005
31%
29%
57%
Fiscal 2015
Continental Europe United Kingdom
Gross margin
+10%
Average annual growth
over 10 years
€5.6bn
for multi-technical
maintenance services
Facilities management revenue,
0.6% higher than
food services
gross margin
including €1.2bn
in multi-technical
maintenance services
6
acquisitions
in 10 years
across all continents
SUSTAINED DEMAND FOR
FY 15
ORGANIC REVENUE GROWTH
13.0%
9.5%
8.5%
8.3%
2011-12
2012-3
6.9%
2010-11
4
new countries
Portugal, Panama,
Singapore and Taiwan
Acquisition of
Motivcom
in the United Kingdom,
Sodexo becomes
65%
European leader
in incentive
and recognition
paperless/digital
2013-4
2014-5
Further
double digit
growth
in Latin America
FY 15
RECOGNIZED POSITIONING AND LEADERSHIP
IN QUALITY OF LIFE SERVICES
The Sodexo/Harris Interactive survey revealed that
91% of executives queried believe there is a link
between quality of life and their organization's
performance
Sodexo/Harris Interactive Survey - April 2015
A first international conference bringing together
global leaders in Quality of Life
FY 15
BETTER LEVERAGE OUR GLOBAL CONSUMER
KNOWLEDGE
Strengthening relations with consumers
Partnerships
Le Village
in Paris
Bringing
nutritional advice
https://mindful.sodexo.com/
Facilitate the flow
of information
The Camp
in Aix-en-Provence
Reinforcing ties
FY 15
SOCIETAL COMMITMENTS
SODEXO
with
PEPSICO
UNILEVER
MCCAIN
ARDO
SCA
WWF
First international coalition
to combat waste
all along the food chain
By 2017,
$1 billion in purchases
from
5,000 small and mid-sized enterprises
in
40 countries,
including
1,500 managed by women
FY 15
RECOGNITIONS
Global Sustainability Industry Leader
in its sector for the 11th year in a row
No.1 among SBF 120 index companies in 2015
for the proportion of women in senior management
43% women on the Group Executive Committee
38% women on the Sodexo Board of Directors
Recognized for its commitment to
reducing carbon emissions by 34%
by 2020
OUTLOOK
OUTLOOK
EVOLUTION OF THE ORGANIZATION
CORPORATE
SERVICES
HEALTH CARE
& SENIORS
ENERGY &
RESOURCES
SCHOOLS
UNIVERSITIES
GOVERNMENT
& AGENCIES
GLOBAL SEGMENTS
7
GLOBAL
SEGMENTS
DRIVE GROWTH AND CREATE VALUE
THROUGH CLIENT SPECIALIZATION
SERVICE OPERATIONS
TRANSVERSAL FUNCTIONS
SPORTS &
LEISURE
FISCAL 2016 OBJECTIVES
The objectives for Fiscal 2016 are as follows:
Organic revenue growth of around 3%
Growth in operating profit of around 8%
(excluding currency effects and exceptional items related to the adaptation and simplification program)
Reminder, the negative effect of the Brazilian real should continue
in the second half, while the favorable effect of the U.S dollar should decline.
However this is purely a conversion effect with no operational impact.
62 –Sodexo Overview, April 2016
MEDIUM-TERM OBJECTIVES
The Group remains confident of achieving
its medium-term objectives:
average annual growth
in revenue of between 4% and 7%
(excluding currency effects)
average annual growth in
operating profit of between 8%
and 10% (excluding currency effects)
SHAREHOLDERS &
INVESTOR
RELATIONS
SHAREHOLDERS AND INVESTOR RELATIONS
SODEXO SHARE OWNERSHIP as of August 31
st 2015
Treasury shares 3.1%
Individuals 3.9%
Employees 0.7%
French institutional shareholders 12.7%
Bellon SA
37.7%
International institutional
shareholders 41.9%
Allianz Global Investors Europe 2.8%
First Eagle Investment Management 2.5%
SODEXO SHARE OWNERSHIP as of August 31
st 2015
SODEXO SHARES
Sodexo shares are listed on NYSE Euronext Paris
Euroclear code: FR 0000121220; included in the Next 20 index
Sodexo American Depositary Receipts (ADRs) are traded on the over the counter
(OTC) market, ticker SDXAY, with five ADRs representing one Sodexo share.
SHARE PERFORMANCE,
SINCE
THE listing
INITIAL in
LISTING
Since the
initial
1983IN MARCH 1983*:
Share price multiplied by 43,1 (whereas the CAC 40 index has been
multiplied byPRICE
only 10.6, which
shares have
SHARE
has means
beenSodexo’s
multiplied
byoutperformed
50.7*
the CAC 40 by a wide margin)
Growth
more than
four
times dividends.
An average annual
appreciation
of 13.1%,
excluding
that of the CAC 40
* as of August 31, 2015
SHARE PERFORMANCE as of August 31
st 2015
Over the last five Fiscal years, Sodexo’s share price increased by 73%,
whereas the CAC 40 index increased by 33% during the same period.
During the last Fiscal year, Sodexo’s share price increased by 4.5%
FINANCIAL CALENDAR
These dates are purely indicative, and are subject to change without notice.
Regular updates are available in the calendar on our website www.sodexo.com.
APPENDICES
APPENDIX 1
H1 2016 EXCHANGE RATES
€ millions
Impact of exchange rates
vs. the euro on H1 2016
Operating
profit
Average
rates
H1 2016
Change
Period-end
rates
February 29,
2016
U.S. Dollar
1.0939
+ 11.5%
1.0888
+ 3.2%
+ 457
+ 34
Pound Sterling
0.7353
+ 5.5%
0.7858
- 7.4%
+ 57
+3
Brazilian Real
4.2896
- 27.2%
4.3394
- 24.9%
- 156
- 32
€1 =
Change
Revenues
before
exceptional costs
APPENDIX 2
FY 2015 - SENSITIVITY TO EXCHANGE RATES
€ millions
Impact of a 10% appreciation
of the exchange rate of the following
currencies against the euro on
Average
rate
Fiscal 2015
Change
Closing rate
Aug. 31,
2015
Change
Revenues
U.S. dollar
1.1594
+17.4%
1.1215
+17.6%
763
50
167
Pound Sterling
0.7462
+10.3%
0.7275
+9.3%
193
8
82
Brazilian Real
3.3020
-6.0%
4.0671
-27.2%
107
23
57
€1 =
Operating Shareholders’
profit
equity
APPENDIX 3
FINANCIAL DEBT ANALYSIS*
AT FEBRUARY 29, 2016
€ millions
BY CURRENCY
BY MATURITY
41% €
< 1 year
59% $
301
3-4 years
99.5%
Fixed
Average interest rate 3.4%
at February 29, 2016
4-5 years
> 5 years
(vs. 3.8% at August 31, 2016)
* Financial debt of €2,802 million (excluding derivative financial instruments for €(2) million)
6
2-3 years
INTEREST RATE
0.5%
Variable
1-2 years
50
140
16
2,289
APPENDIX 4
FINANCIAL RATIOS
Gearing ratio
Net debt/Shareholders' equity
Reimbursement capacity
Gross financial debt/
Operating cash flow
objective < 75%
objective < 4 years
21%
4.1
3.4
16%
3.1
2.8
12%
9%
Fiscal 2012
Fiscal 2013
Fiscal 2014
Fiscal 2015
Fiscal 2012
Fiscal 2013
Fiscal 2014
Fiscal 2015
APPENDIX 5
FINANCIAL RATIOS
Interest cover
Operating profit/
Net debt ratio
Net debt/EBITDA
objective < 2 years
9.0
6.0
0.5
0.4
6.6
5.4
0.3
objective > 5
Fiscal 2012
Fiscal 2013
Fiscal 2014
0.2
Fiscal 2015
Fiscal 2012
Fiscal 2013
Fiscal 2014
Fiscal 2015
APPENDIX 6
INVESTOR RELATIONS CONTACTS
www.sodexo.com
Head of Investor Relations
Virginia JEANSON
Tel : + 33 1 57 75 80 56
virginia.jeanson@sodexo.com
Investor Relations Manager
Alejandra LEFEBVRE
Tel : + 33 1 57 75 80 75
alejandra.lefebvre@sodexo.com
Investor Relations Coordinator
Cynthia CATTY
Tel : + 33 1 57 75 80 54
cynthia.catty@sodexo.com
Sodexo
255 Quai de la Bataille de Stalingrad
92130 Issy Les Moulineaux
Email : communication.financiere@sodexo.com
THANK YOU!

H1 16 - Sodexo

Transcription

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