732713843/piter2121 – stock.adobe.com
OUR SHARE ADVISORY ON SODEXO – The contract catering group has published accounts well in line with its targets and market expectations for its 2023/2024 financial year. It has also reassured investors of its plans for external growth: exit Aramark.
Back to normal. After investors’ fears about rumors of a possible acquisition of American Aramarkwhich had pushed Sodexo’s share price below €70 at the end of September, the publication of the 2023/2024 financial statements (closed at the end of August) reassured the market, which brought the share price back above €80.
Group sales came to €23.80 billion, with gross growth of 5.1% and organic growth of 7.9%. In the latter terms, momentum was driven both by price increases, for 4%, and by additional volumes, for 3.9%, which benefited from the contribution of new contracts. In addition, the Olympic Games and the Rugby World Cup contributed a further 40 basis points of organic growth.
Significant improvement in results
All regions reported strong growth. On a like-for-like basis, North America grew by 8.7%, thanks to a gradual return to the workplace, solid momentum in hospitals and…