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Sodexo: Q1 Fiscal 2021 revenues in line with guidance, H1 UOP margin assumption upgraded


Commenting on these figures, Sodexo CEO Denis Machuel said:
The revenue trend has improved again this quarter, despite the start of the second wave in November in most of our geographies. All regions were better, even though the North American activities remain very impacted by the Covid-19 pandemic, especially in Education, Corporate Services and Sports & Leisure.
The teams have been very actively adapting cost structures and contract terms to ensure that ramping up contracts is profitable. The restructuring program is moving forward.
As a result, although revenues are in line with guidance, this first quarter has been better than expected in terms of operating performance, and so despite the uncertainty around the evolution of the Covid-19 pandemic, our first half Fiscal 2021 Underlying operating profit margin target is now to be at least 2.5%. ....

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