Sodexo Q3 Fiscal 2020 Revenue impacted by COVID-19

Q3 Organic growth at -29.9%, better than early-April hypothesis
More prudent hypotheses for Q4 revenues compensated by better Underlying operating profit flow-through in H2

Q3 Fiscal 2020 revenues

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Sodexo CEO Denis Machuel said:

“We have lost nearly one third of our Q3 revenues relative to last year due to COVID-19. Nevertheless, our On-site business broad geographic mix, strong Facilities Management (FM) and large integrated accounts combined with Benefits & Rewards have given us resilience.

At the start of the crisis, our focus was on protecting the health and safety of our people, consumers and clients. With a significant number of sites fully or partially closed, we immediately identified all means to protect our cash and reduce our costs.

As deconfinement became a reality, first in Asia, then in Europe, we launched "rise with Sodexo”, a new program to help our clients reopen their sites safely and as quickly as possible. This multi-service approach brings together a wide range of our services with secure protocols, approved by the Sodexo Medical Advisory Council and carrying a Bureau Veritas hygiene verification label. I am extremely proud of the speed of action and innovation that our teams have shown.

I am convinced that the company is in a position to come out of this crisis stronger than ever.”