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Sodexo invites investors and analysts to a virtual Investor Day on November 2, 2020 at 2pm CET.
Paris, November 2, 2020
Sodexo invites investors and analysts to a virtual Investor Day on November 2, 2020 at 2pm CET.
To join the virtual meeting on line (in English): click here
To join in an interactive way and to participate in the Q&A sessions, please dial:
United Kingdom: +44 (0) 2071 928 338
France: +33 (0)1 70 70 07 81
United States: + 1 646 741 3167
Access Code: 60 49 407
In a period where visibility is particularly reduced, this virtual Investor Day will provide insight into how the Group adapted to the crisis and some of the most significant trends expected as we come out of the pandemic.
Hosted by Denis Machuel, CEO and his management team, Sodexo will highlight and reaffirm the resilience and pertinence of its business model today and in the future, the progress made in the last two years and how, in a more complex operating environment, the Group is well positioned to leverage future opportunities.
To remain agile and protect profitability going forward, Sodexo is implementing its Group Effectiveness and Transformation program (GET). This program aims to further adjust on-site labor costs as government employment measures progressively fall away and also to sustainably reduce its SG&A through the simplification of structures. The program started in the second half of Fiscal 2020 and will be completed by the end of Fiscal 2021. The total cost is estimated at 350 million euro, of which 158 million euro was accounted for in Fiscal 2020. This program will achieve cumulated annual savings of 350 million euro by Fiscal 2022, of which half in recurrent SG&A reduction, and half in on-site cost avoidance
For the future, Sodexo is confident in its capacity to adapt to the new environment and in particular to the Work From Home trend. The estimated impact on Corporate Services total revenues is limited to less than 10% in the mid-term.
Sodexo is well positioned to leverage new opportunities through a combination of:
More outsourcing.
New food offers including even more sustainable food with new operating and commercial models and the complementarity of the Benefits & Rewards services, all powered by augmented digitization and guided by consumer insights.
More Facilities Management services by proposing agile workspace management solutions, and additional integration of services supported by new technologies for enhanced efficiency.
Commenting on this meeting, Sodexo CEO Denis Machuel said:
“Today, we are engaged in a profound transformation to prepare for the future, towards a digitized, client-centric, focused, disciplined, agile organization. With its global footprint, Sodexo is a constellation of caring, smart and skilled people bringing quality of life to clients and places across society.
We have a cash generative business model by design. We have a talented and diverse team. And we have client traction with real solutions to offer them.
Today, despite the current crisis, Sodexo is building on its promise. The team and I are creating a collective momentum and a clear path to greater shareholder and stakeholder value.”
The presentation will be available on the Group website www.sodexo.com in the "Finance" section. This event will be recorded and made available online as soon as possible.
About Sodexo
Founded in Marseille in 1966 by Pierre Bellon, Sodexo is the global leader in services that improve Quality of Life, an essential factor in individual and organizational performance. Operating in 64 countries, Sodexo serves 100 million consumers each day through its unique combination of On-site Services, Benefits & Rewards Services and Personal & Home Services. Sodexo provides clients an integrated offering developed over more than 50 years of experience: from foodservices, reception, maintenance and cleaning, to facilities and equipment management; from services and programs fostering employees’ engagement to solutions that simplify and optimize their mobility and expenses management, to in-home assistance, child care centers and concierge services. Sodexo’s success and performance are founded on its independence, its sustainable business model and its ability to continuously develop and engage its 420,000 employees throughout the world.
Sodexo is included in the CAC Next 20, ESG 80, FTSE 4 Good and DJSI indices.
NYSE Euronext Paris FR 0000121220-OTC: SDXAY
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