Sodexo Q1 Fiscal 2025 Revenues: a soft start to the year, as expected

Revenue Performance - Q1 Fiscal 2025 consolidated revenues reached 6 4 billion euros, up +1 9% year-on-year, with organic growth of +4 6% [5][16] - Organic growth was driven by Food services, which grew +5 7%, while FM services grew +2 4% or +3 5% excluding last year's Rugby World Cup ticketing activity [18] - Underlying organic growth, adjusted for the Rugby World Cup and Paralympics, was +4 9% [17] Geographic Performance - North America achieved organic growth of +5 9%, driven by strong performance in Sodexo Live! and Corporate services, though Education was impacted by lower university volumes [6][20] - Europe grew +2 0% organically, or +2 7% excluding sporting events, with Healthcare & Seniors showing positive momentum [8][25] - Rest of the World grew +6 4% organically, led by robust growth in India, Brazil, and Australia, while China showed gradual recovery [6][30] Segment Performance - Sodexo Live! in North America grew +24 8%, driven by increased attendance at conference centers, stadiums, and airline lounges [22] - Healthcare & Seniors in Europe grew +7 4%, supported by volume growth and price revisions [28] - Business & Administrations in Rest of the World grew +6 0%, with strong performance in India and Australia [31] Strategic Initiatives - The company completed the acquisition of CRH Catering, strengthening its InReach offering on the U S East Coast [8] - Sodexo continues to advance its sustainability goals, including the Sustainable Food Barometer and the Cook For Change challenge [8] - The company is assessing the carbon impact of its recipes through a partnership with Eaternity, with implementation underway in the U S and UK & Ireland [8] Financial Outlook - Full-year guidance for Fiscal 2025 is maintained, with organic revenue growth expected between +5 5% and +6 5% [9] - Underlying operating profit margin is anticipated to grow by +30 to +40 bps at constant exchange rates [9] Leadership Changes - Anna Notarianni, Group Chief Impact Officer, left the company after 26 years, with her responsibilities integrated into Marc Rolland's role [8] - Dominique Guilhem was appointed Group Chief Strategy Officer, joining the Sodexo Leadership Team [8]