Sodexo Overview Investor Presentation

Transcription

Sodexo
Group Presentation
January 2016
A
G
E
N
D
A
2–
Sodexo Overview, January 2016
1. SODEXO AT A GLANCE
2. Q1 FISCAL 2016 REVENUES
3. FISCAL 2015 SOLID FINANCIAL
PERFORMANCE
4. OUTLOOK
5. SHAREHOLDERS & INVESTOR
RELATIONS
6. APPENDICES
SODEXO AT A
GLANCE
3 – Sodexo Overview, January 2016
SODEXO AT A GLANCE
SODEXO: KEY FACTS
€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
€13.9 bn Market capitalization
(Jan’16)
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
Q1 FISCAL 2016
REVENUES
Q1 16
DYNAMIC GROWTH IN LINE WITH OBJECTIVE
Reported growth
of +9.6%
Currency effect
+4.8%
Scope changes
+0.1%
Organic growth
of +4.7%
of which:
On-site Services
Benefits and Rewards
Services
+4.7%
+5.3%
Q1 16
A DYNAMIC QUARTER
AT +4.7% ORGANIC GROWTH
Half of the organic growth
came from the €131m
Rugby World Cup contract
Acceleration in growth
in Health Care and Seniors
in North America
Further strong growth
in the Corporate segment,
led by major new integrated
services contracts
(with Facilities Management +9.7%)
Sharp slowdown in the oil
and mining sectors
Growth in Europe
still weak, with mixed
performances
In Benefits and Rewards
Services: economic
slowdown in Latin America
offset by contract wins
Q1 16
STRONG DEMAND FOR OUR QUALITY OF LIFE
SERVICES OFFER
CORPORATE
Pfizer in 12 countries in Asia
Alexion Pharmaceuticals in the United States
SENIORS
Korian Medica in France
HEALTH CARE
Carolinas HealthCare System in the United States
Greater Baltimore Medical Center in the United States
REMOTE SITES
Shell in Australia
BENEFITS AND REWARDS
Regional service voucher contracts in Belgium
Q1 16
ON-SITE SERVICES
STRONG DEMAND FOR INTEGRATED QUALITY
OF LIFE OFFERS
Organic growth
Corporate
Contribution of Rugby World Cup contract
Strong momentum from integrated services
contracts won in 2015
+7.5%
However, significant decline in Remote Sites revenues
Health Care and Seniors
Acceleration of growth in the United States
+2.7%
Dynamic performance in Rest of the World
New contract ramp-ups in the United Kingdom
Limited business development in Europe,
especially in France
Education
Growth in revenues from existing contracts
and selective approach to new business in Europe
Contract wins in emerging markets
+1.2%
Q1 16
ON-SITE SERVICES
ORGANIC GROWTH OF +4.7%
United Kingdom
and Ireland
North
America
+47.6%
+2.9%
+19.5%
Rest of
the World -4.2%
Continental
+1.0% Europe
Q1 16
ON-SITE SERVICES
NORTH AMERICA
€ millions
Revenues
Corporate
Favorable
currency
effect
2,082
Organic
growth
26%
2,434
+6.0%
Strong growth
in facilities management services
Acquisitions
36%
Health Care
and Seniors
+4.9%
Start-up of new contracts
+2.9%
Successful commercial development
ORGANIC
GROWTH
Education
38%
Q1 Fiscal
2015
Q1 Fiscal
2016
% of Fiscal
2015 revenues
Limited number of contracts
won in previous year
+0%
Q1 16
ON-SITE SERVICES
CONTINENTAL EUROPE
€ millions
Revenues
Corporate
61%
1,513
Organic
growth
Consolidation
scope
1,509
+2.6%
Improved growth
in integrated services contracts
Unfavorable
currency
effect
Health Care
and Seniors
+1.0%
23%
ORGANIC
GROWTH
-5.0%
Contracts not renewed,
especially in France
Contract wins in Nordic countries
Q1 Fiscal
2015
Q1 Fiscal
2016
Education
16%
% of Fiscal
2015 revenues
Good level of activity
in France and Germany
+3.4%
Q1 16
ON-SITE SERVICES
REST OF THE WORLD*
€ millions
Revenues
Corporate
90%
891
Organic growth
806
-6.1%
A -16.1% decline
in Remote Sites revenues
Corporate contract wins
Unfavorable
currency effect
-4.2%
+6%
excluding
Remote Sites
6%
* Latin America, Africa, Middle East, Asia,
Australia and Remote Sites
+23.5%
Continued healthy development
in Latin America and Asia
ORGANIC GROWTH
Q1 Fiscal
2015
Health Care
and Seniors
Q1 Fiscal
2016
4%
% of Fiscal
2015 revenues
Education
+1.5%
ON-SITE SERVICES
Q1 16
UNITED KINGDOM AND IRELAND
€ millions
Revenues
Corporate
73%
Organic
growth
Favorable
currency
effect
639
Acquisitions
Contribution of €131million
from Rugby World Cup
On-going ramp-up of Justice contracts
(launched in February 2015) and Corporate
contracts (launched in 2nd half 2015)
Other
400
+64.0%
Rugby
+47.6%
19%
+17.5%
ORGANIC GROWTH
Q1 Fiscal
2016
Education
8%
% of Fiscal
2015 revenues
+4.9%
Full impact of contracts
won in Fiscal 2015
excluding Rugby
Q1 Fiscal
2015
Health Care
and Seniors
Growth in University
and School sectors
+15.8%
Q1 16
€ billions
4.2
BENEFITS AND REWARDS SERVICES
ISSUE VOLUME AND REVENUES
Issue volume
Organic
growth*
€ millions
Revenues
Acquisitions
4.0
198
Organic
growth*
Acquisitions
186
Unfavorable
currency
effect
Unfavorable
currency
effect
+5.7%
+5.3%
ORGANIC
GROWTH
ORGANIC
GROWTH
Q1 Fiscal
2015
Q1 Fiscal
2016
Q1 Fiscal
2015
Sustained activity in Latin America despite the sharp economic
slowdown, especially in Brazil
Successful contract wins, with the renewal of the Titre Emploi Service
contract in three regions of Belgium
* Organic growth: increase in revenues at constant scope of consolidation and exchange rates, with the exception of the Venezuelan bolivar,
for which the exchange rate for Fiscal 2015 (USD 1 = VEF 199) was used for the first quarter of Fiscal 2016.
Q1 Fiscal
2016
Q1 16
Latin America
Issue volume
€ billions
€ millions
Revenues
52%
In FY 2015
Organic
growth
Acquisitions
109
2.0
Organic
growth
Acquisitions
88
Unfavorable
currency
effect
1.6
+8.4%
Unfavorable
currency
effect
+8.9%
ORGANIC
GROWTH
Q1 Fiscal
2015
ORGANIC
GROWTH
Q1 Fiscal
2016
Q1 Fiscal
2015
Q1 Fiscal
2016
Contract wins offset the decline in the number of beneficiaries under existing contracts
Growth in face values and higher interest rates
* Organic growth: increase in revenues at constant scope of consolidation and exchange rates, with the exception of the Venezuelan bolivar,
for which the exchange rate for Fiscal 2015 (USD 1 = VEF 199) was used for the first quarter of Fiscal 2016.
Q1 16
Europe and Asia
Issue volume
€ billions
€ millions
Revenues
48%
in FY 2015
2.2
Organic
growth
Acquisitions
Favorable
currency
effect
2.4
89
Organic
growth
Acquisitions
+3.3%
+1.1%
ORGANIC
GROWTH
ORGANIC
GROWTH
Q1 Fiscal
2015
Q1 Fiscal
2016
Q1 Fiscal
2015
Good momentum in Turkey, Romania and Czech Republic
Continued modest growth in Western Europe
Favorable
currency
effect
98
Q1 Fiscal
2016
FISCAL 2015
SOLID FINANCIAL
PERFORMANCE
A FY
YEAR
PROGRESS
15 OFA
YEAR OF
PROGRESS
Solid financial performance
Contract wins in On-site Services,
led by integrated services offer
Sustained activity in Benefits and Rewards Services
Increased differentiation in Quality of Life Services
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
Benefits and Rewards 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
FY 15
ON-SITE SERVICES
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
Health Care and Seniors
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%
Net financial expense
(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
OUTLOOK
ADAPTATION AND SIMPLIFICATION MEASURES
Reinforced adaptation of site level operating costs
Organizational simplification
Increased mutualisation across geographies
AROUND €200 MILLION OF
ANNUAL SAVINGS BY YEAR 3
AROUND €200 MILLION
IN EXCEPTIONAL EXPENSE
(100% PAYBACK IN FISCAL 2018)
(SEPTEMBER 2015-FEBRUARY 2017)
OUTLOOK
FISCAL 2016 OBJECTIVES
In light of the current economic environment,
the Group is targeting:
Organic revenue growth of around 3%
An increase in operating profit of around 8%
(excluding currency effects and exceptional items)
OUTLOOK
MEDIUM-TERM OBJECTIVES
The Group is confident
of achieving its medium-term objectives:
average annual growth
in revenue of between
4% and 7%
average annual growth
in operating profit of
between 8% and 10%
(excluding currency effects)
(excluding currency effects)
* Ratio of operating free cash flow to reported net income
an average annual
cash conversion
ratio* of around 100%
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
Q1 2016 - PRINCIPAL EXCHANGE RATES
Average
rate
Q1 Fiscal
2016
Average
rate
Q1 Fiscal
2015
Change
average
rate
U.S. dollar
1.1034
1.2643
Pound
sterling
0.7241
Brazilian
real
4.2675
€1 =
(in € millions)
Closing
rate
Q1 Fiscal
2016
Closing
rate
Q1 Fiscal
2015
Change
closing
rate
+14.6%
+300
1.0579
1.2483
+18.0%
0.7855
+8.5%
+49
0.7048
0.7953
+12.8%
3.0737
-28.0%
-82
4.0709
3.1831
-21.8%
61 – First-Quarter Fiscal 2016 Revenues, January 13, 2016
Revenue
impact
Q1 15-16
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 =
62 – Fiscal 2015 Annual Results - November 19, 2015
Operating Shareholders’
profit
equity
APPENDIX 3
ANALYSIS OF FINANCIAL DEBT*
AS OF AUGUST 31, 2015
€ millions
BY CURRENCY
BY MATURITY
39% €
< 1 year
1-2 years
61% $
BY INTEREST RATE
316
13
2-3 years
230
3-4 years
100% Fixed rate
4-5 years
200
67
average rate of 3.8%
as of August 31, 2015
> 5 years
* Financial debt of €3,080 million (excluding foreign currency derivative financial instruments for €(33) million)
2
2,254
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 4
FINANCIAL RATIOS
Interest cover
Operating profit/
Net financial expense
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 5
INVESTOR RELATIONS CONTACTS
www.sodexo.com
Head of Investor Relations
Virginia JEANSON
Tel : + 33 1 57 75 80 56
[email protected]
Investor Relations Manager
Alejandra LEFEBVRE
Tel : + 33 1 57 75 80 75
[email protected]
Investor Relations Coordinator
Cynthia CATTY
Tel : + 33 1 57 75 80 54
[email protected]
Sodexo
255 Quai de la Bataille de Stalingrad
92130 Issy Les Moulineaux
Email : [email protected]
THANK YOU!

Sodexo Overview Investor Presentation

Transcription

Similar documents

growth - Sodexo