Regulated Information Issy-les-Moulineaux, April 28, 2025 DISCLOSURE OF TRANSACTIONS IN OWN SHARES CARRIED OUT FROM APRIL 22 TO APRIL 24, 2025 Sodexo purchased treasury shares, outside of its liquidity contract, within the framework of its share buyback program as authorized by the Shareholders’ Meeting held on December 17, 2024. These shares have been acquired to honor obligations related to free shares award plans. Information on these transactions are the following: Trading dateLEIISINVolume(in number o ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Smurfit Westrock (SW) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 1, 2025, might help the stock move higher if these key numbers are better than expec ...

Core Viewpoint - Sodexo has released its First half Fiscal 2025 Financial report, which is consistent with previously published preliminary financial information, indicating stable performance and adherence to guidance [2][3]. Financial Performance - The First half Fiscal 2025 financial report includes condensed consolidated financial statements as of February 28, 2025 [2]. - Consolidated revenues for Fiscal 2024 were reported at 23.8 billion euros [7]. - The company serves 80 million consumers daily and operates in 45 countries [7]. Company Overview - Founded in 1966, Sodexo is a global leader in sustainable food and facilities management services [4]. - The company emphasizes improving quality of life and contributing to economic, social, and environmental progress [4]. - Sodexo is recognized in various indices, including CAC Next 20 and FTSE 4 Good [4]. Employment and Market Position - As of August 31, 2024, Sodexo had 423,000 employees, making it the 1 France-based private employer worldwide [7]. - The company's market capitalization was reported at 8.5 billion euros as of April 3, 2025 [7].

Core Insights - The company reported consolidated revenues of €12.475 billion for the first half of Fiscal 2025, reflecting a year-on-year increase of 3.1% [2][7][18] - Organic revenue growth was 3.5%, down from 8.5% in the previous year, indicating a slowdown in growth momentum [2][19] - Underlying operating profit increased by 6.4% to €651 million, with an underlying operating profit margin of 5.2%, up 10 basis points from the previous year [2][36][45] - Group net profit from continuing operations decreased by 12.5% to €434 million, primarily due to an exceptional capital gain in the prior year [2][41] - The effective tax rate rose to 19.5% from 16.6% in the previous year, influenced by updates related to a tax audit [2][40] Financial Performance - Revenues for the first half of Fiscal 2025 were €12,475 million, compared to €12,101 million in the first half of Fiscal 2024, marking a 3.1% increase [2][18] - Organic growth was driven by food services, which grew by 4.5%, while facilities management services saw a growth of 1.7% [19][22] - The underlying operating profit margin improved to 5.2%, with all geographic zones showing improvements [36][45] - The company experienced a negative impact from currency fluctuations, contributing to a 0.1% decline in revenue growth [7][62] Geographic Performance - North America achieved organic growth of 3.5%, with strong performance in Sodexo Live! and Corporate Services, although this was partially offset by contract demobilizations [7][22] - Europe reported organic growth of 2.1%, driven by healthcare and seniors, but faced challenges in facilities management services [7][28] - The Rest of the World saw a robust organic growth of 6.6%, particularly in India, Brazil, and Australia [7][33] Guidance and Outlook - The full-year Fiscal 2025 guidance was revised, with organic revenue growth now expected to be between 3% and 4%, down from the initial guidance of 5.5% to 6.5% [6][58] - The underlying operating profit margin improvement is now projected to be between 10 and 20 basis points, reduced from the previous expectation of 30 to 40 basis points [6][58] Cash Flow and Debt - Free cash flow for the first half of Fiscal 2025 was a negative €234 million, compared to a negative €102 million in the previous year, primarily due to an exceptional tax outflow [14][47] - Net debt increased to €3.416 billion from €2.6 billion at the end of Fiscal 2024, reflecting seasonal cash flow patterns and dividend payments [14][49] - The net debt to EBITDA ratio stood at 2.3x, consistent with the previous year, indicating stable leverage despite increased debt levels [14][51]

Core Viewpoint - Sodexo is a global leader in sustainable food and facilities management services, emphasizing its commitment to improving quality of life and contributing to social and environmental progress [3]. Group 1: Company Overview - Founded in Marseille in 1966 by Pierre Bellon, Sodexo operates with a responsible business model and is characterized by its independence and founding family shareholding [3]. - The company serves 80 million consumers daily across 45 countries, making it the number one France-based private employer worldwide [5]. - Sodexo is included in several indices such as CAC Next 20, Bloomberg France 40, CAC 40 ESG, CAC SBT 1.5, FTSE 4 Good, and DJSI [3]. Group 2: Financial Performance - For fiscal 2024, Sodexo reported consolidated revenues of 23.8 billion euros [5]. - As of March 19, 2025, the company's market capitalization stood at 10.7 billion euros [5]. - The company employed 423,000 individuals as of August 31, 2024 [5].

Core Insights - Sodexo's first half Fiscal 2025 revenues reached €12.475 billion, reflecting a year-on-year increase of 3.1% with organic revenue growth of 3.5% [5][4] - The company has revised its full-year organic revenue growth guidance to between 3% and 4%, down from the previous range of 5.5% to 6.5% due to weaker-than-expected performance in North America, particularly in Education and Healthcare sectors [11][8] - Underlying operating profit for the first half was €651 million, up 6.4% year-on-year, with an underlying operating profit margin improvement of 10 basis points to 5.2% [10][7] Financial Performance - First half Fiscal 2025 key figures include: - Revenues: €12,475 million (2025) vs. €12,101 million (2024), a growth of 3.1% [5] - Organic revenue growth: 3.5% compared to 8.5% in the previous year [4] - Underlying operating profit: €651 million (2025) vs. €612 million (2024), an increase of 6.4% [5] - Net profit from continuing operations: €434 million (2025) vs. €496 million (2024), a decrease of 12.5% [5] Regional Performance - North America reported organic growth of 3.5%, impacted by soft volumes in Education and delays in Healthcare contract openings [5][6] - Europe experienced organic growth of 2.1%, with strong performance in Healthcare & Seniors but continued soft growth in Facilities Management [5] - The Rest of the World saw organic growth of 6.6%, driven by strong performances in Australia, India, and Brazil [5] Guidance and Strategic Focus - The company is focusing on strengthening execution in North America, particularly in commercial discipline and operational efficiency, in response to the revised guidance [9][8] - Full-year underlying operating profit margin guidance has been adjusted to an improvement of 10 to 20 basis points, down from 30 to 40 basis points [11][9]

Core Viewpoint - Smurfit Westrock has experienced a significant decline in share price, losing approximately 20.5% over the past month, underperforming the S&P 500 index [1] Earnings Report Summary - The most recent earnings report indicates a negative trend in estimates, with a consensus estimate shift of -30.62% over the past month [2] VGM Scores - Smurfit Westrock currently holds a subpar Growth Score of D and a Momentum Score of F, while achieving a Value Score of C, placing it in the middle 20% for this investment strategy. The overall aggregate VGM Score is F, which is critical for investors not focused on a single strategy [3] Outlook - The estimates for Smurfit Westrock have been trending downward, indicating a broader negative sentiment. The company holds a Zacks Rank of 3 (Hold), suggesting an expectation of in-line returns in the upcoming months [4]

Core Insights - Sodexo has been recognized as one of the World's Most Ethical Companies for the second consecutive year, highlighting its commitment to business integrity and ethical practices [1][2][3] Company Overview - Founded in 1966 in Marseille, Sodexo is a global leader in sustainable food and facilities management services, focusing on improving quality of life and contributing to social and environmental progress [9] - As of August 31, 2024, Sodexo employs 423,000 people and serves 80 million consumers daily across 45 countries [13] Recognition Details - In 2025, a total of 136 companies were recognized across 19 countries and 44 industries, with Sodexo being the only honoree in the food service industry [2] - The recognition is based on a comprehensive evaluation across five categories, reflecting the company's strong ethical principles and behaviors [2] Performance Metrics - The 2025 honorees outperformed a comparable index of global companies by 7.8 percentage points from January 2020 to January 2025, indicating a positive correlation between ethical practices and business performance [4] Methodology - The assessment for the World's Most Ethical Companies is based on Ethisphere's proprietary Ethics Quotient, which requires over 240 proof points on various ethical practices and governance [5] Company Financials - For fiscal 2024, Sodexo reported consolidated revenues of 23.8 billion euros and had a market capitalization of 11.7 billion euros as of January 6, 2025 [13]

Employment and Workforce - As of December 31, 2024, Smurfit Westrock employed approximately 100,000 people across 40 countries, with 52,500 in North America, 37,000 in Europe, MEA, and APAC, and 10,500 in Latin America[120]. - Approximately 54% of hourly employees in the U.S. and 60% of employees in Europe are covered by collective bargaining agreements, reflecting strong labor relations[121]. - The company has a robust talent development program, with over 500 senior leaders participating in the flagship Open Leadership program in partnership with INSEAD[131]. - The company’s talent planning initiatives ensure timely talent mobility into key vacancies across the organization[130]. - The company’s employee benefits packages are competitive and tailored to local market relevance[133]. Safety and Compliance - The company achieved a lost time incident rate of 0.27 and a global Total Recordable Incident Rate of 0.58 for 2024, indicating a strong commitment to safety[123]. - The company has implemented comprehensive safety management systems to safeguard employee health and safety, which are critical for attracting and retaining talent[137]. - The company invested approximately $127 million in capital expenditures related to environmental compliance during fiscal 2024[142]. - The company is subject to various environmental laws and regulations, which significantly impact its manufacturing processes[140]. Innovation and Sustainability - Smurfit Westrock won 106 awards in 2024, including 16 awards at the Flexographic Industry Association UK awards and 13 WorldStar 2024 awards, showcasing its industry leadership in innovation[102]. - The "Better Planet Packaging" initiative has executed over 80 successful projects for leading brands, focusing on sustainable packaging solutions[103]. - The Sustainability Committee of the Board met three times in 2024 to review the company's climate strategy and stakeholder expectations[107]. - The company plans to publish an overview of its climate risk management approach in the first half of 2025, aligning with the Task Force on Climate-related Financial Disclosures[113]. - Consolidated sustainability targets and data are expected to be reported for the 2025 financial year, following the mid-year merger of Smurfit Kappa Group and WestRock[114]. - The company is committed to sustainability, focusing on renewable and recyclable materials to create innovative packaging solutions[105]. - Smurfit Westrock's innovation model includes 30 interconnected customer-centric Innovation and Experience centers to enhance local implementation and efficiency[100]. Leadership and Compensation - The company’s executive leadership includes experienced individuals with extensive backgrounds in the industry, enhancing strategic decision-making[145][146][147][148][149][150]. - The company’s compensation packages are designed to attract, retain, and motivate employees, aligning with performance and business growth[133]. - The company is committed to equal pay for equal work, conducting frequent pay analysis and global pay equity benchmarking[135]. - The company holds a substantial number of patents and trademarks, which are crucial for its manufacturing operations[136].

Core Insights - Sodexo has secured a significant five-year contract with Santos, Australia's largest natural gas supplier, which will enhance its business operations and geographical presence in Australia [1][3] - The contract encompasses a wide range of services across Santos' operations, including accommodation management, catering, and health & wellness services for 25 camps, impacting the daily lives of approximately 2,000 residents [3][4] - The mobilization of this contract is expected to create over 500 jobs and provide benefits to local communities in Queensland, South Australia, and Western Australia [4] Company Overview - Founded in 1966, Sodexo is a global leader in sustainable food and facilities management services, focusing on improving quality of life and contributing to social and environmental progress [5] - As of August 31, 2024, Sodexo reported consolidated revenues of 23.8 billion euros and employed 423,000 people across 45 countries, serving 80 million consumers daily [8] - The company is recognized in various indices, including CAC Next 20 and FTSE 4 Good, reflecting its commitment to responsible business practices [5][8]