Sodexo Group Presentation. July, 2016

Transcription

1 Sodexo Group Presentation July, 2016

2 A G E N D A 1. SODEXO AT A GLANCE 2. Q3 FISCAL 2016 REVENUES 3. FISCAL 2015 SOLID FINANCIAL PERFORMANCE 4. OUTLOOK 5. SHAREHOLDERS & INVESTOR RELATIONS 6. SHARE PERFORMANCE 7. APPENDICES 2 Sodexo Overview, July 2016

3 3 Sodexo Overview, July 2016 SODEXO AT A GLANCE

4 SODEXO AT A GLANCE SODEXO: KEY FACTS 19.8 bn Revenues 420,000 employees Founded in 1966 by Pierre Bellon Main Shareholders as 31/08/2015: Bellon S.A 37.7% (53% of voting rights) International Institutional investors 41.9% 19 th largest employer worldwide 75 million consumers served daily 32,200 sites Strong Investment Grade Rating S&P A- 80 countries 15.6 bn Market capitalization (July 16) 4 Sodexo Overview, July 2016

5 SODEXO AT A GLANCE OUR MAJOR STRENGTHS Independence A unique range of Quality of Life Services particularly well aligned with evolving client demand Significant market potential A global network covering 80 countries Undisputed leadership in developing economies A robust financial model that allows Sodexo to self-finance its development A strong culture and engaged teams 5 Sodexo Overview, July 2016

6 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 6 Sodexo Overview, July 2016 page 6

7 SODEXO AT A GLANCE INTEGRATED QUALITY OF LIFE SERVICES OFFER 7 Sodexo Overview, July 2016

8 SODEXO AT A GLANCE FISCAL 2015 REVENUE breakdown Revenue by activity and client segment Revenue by geographic region On-site Services 96% 4% 9% Defense Remote Sites 30% Corporate North America 41% Continental Europe 31% 4% Sports and Leisure 4% Justice Services 18% Health Care 6% Seniors 21% Education Benefits and Rewards Services (Issue volume of 16.4 billion) 4% United Kingdom and Ireland 10% Rest of the World 18% 8 Sodexo Overview, July 2016

9 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 9 Sodexo Overview, July 2016

10 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 and a rising middle class Increased public deficits that create pressure 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 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 Environmental issues Outsourcing and consolidation of multiple service providers 10 Sodexo Overview, July 2016

11 SODEXO AT A GLANCE SODEXO : REGULAR AND SUSTAINED PERFORMANCE +4.3% CAGR over 15 years +5.1% CAGR over 15 years +13.1% CAGR over 15 years +15.1% CAGR over 14 years 11 Sodexo Overview, July 2016

12 SODEXO AT A GLANCE SODEXO : REGULAR AND SUSTAINED PERFORMANCE +14.2% CAGR over 15 years +9.6% CAGR over 15 years 12 Sodexo Overview, July 2016

13 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 AFFILIATED MERCHANTS Use of the Pass BENEFICIARIES 13 Sodexo Overview, July 2016

14 SODEXO AT A GLANCE SODEXO S DEVELOPMENT - 50 years of history 1966 Sodexo founded by Pierre Bellon International expansion starts Service Vouchers launched 1983 IPO of Sodexo on Paris stock exchange International development: Americas, Russia, South Africa & Asia 2005 Michel Landel becomes CEO, Pierre Bellon remains Chairman of the Board of 2009 Directors Sodexo reviews its strategic positioning 2016 Sophie Bellon becomes Chairwoman of the Board of Directors Acquisitions 1995 Gardner Merchant UK Partena Sweden Sodexo Marriot Services US 2001 Sogeres France Wood Dining Services US VR Brazil Score Groupe and Crèche Attitude France Zehnacker Germany Comfort Keepers & Circles US RKHS India Puras do Brasil Brazil Lenôtre France Roth Bros US 14 Sodexo Overview, July 2016

15 15 Sodexo Overview, July 2016 NINE MONTHS YTD FISCAL 2016 REVENUES

16 DYNAMIC GROWTH Q3 16 Revenue growth +3.7% Currency effect +0.3% Acquisitions +0.1% Organic growth % of which: On-site Services +3.2% Benefits and Rewards Services +5.7% 1 Organic growth is defined as growth at constant exchange rates and consolidation scope, except for Benefits & Rewards in Venezuelan Bolivar. Nine months YTD Fiscal 2016 and 2015 revenues and issue volume in VEF have been converted at the exchange rate of USD 1 = VEF 521, vs. VEF 199 previously. 16 Sodexo Overview, July 2016

17 Q3 KEY CONTRACTS WON Q3 16 CONCIERGE SERVICES CATERING FACILITY MANAGEMENT REPROGRAPHICS LANDSCAPING SECURITY CLEANING RECEPTION MAINTENANCE MAIL SERVICE WASTE MANAGEMENT 17 Sodexo Overview, July 2016

18 ON-SITE SERVICES SUCCESS OF INTEGRATED QUALITY OF LIFE SERVICES OFFERS Q % 25% 22% % of Fiscal 2015 On-site Services revenues Corporate Contribution of Rugby World Cup contract Ramp-up of integrated service contracts, in North America and the United Kingdom Steep decline in Remote Sites, stabilizing quarter on quarter in Q3 Health Care and Seniors Good momentum in the United States Limited contract wins in Continental Europe and United Kingdom Education More working days in France and Italy New business in United Kingdom and Ireland organic growth +3.7% +3.1% +2.0% 18 Sodexo Overview, July 2016

19 ON-SITE SERVICES +3.2% ORGANIC GROWTH Q3 16 North America +4.0% +8.4% excluding Rugby United Kingdom and Ireland +18.1% +1.8% Continental Europe Rest of the World -3.9% +6.5% excluding Remote Sites 19 Sodexo Overview, July 2016

20 ON-SITE SERVICES NORTH AMERICA Q3 16 millions Revenues 6,204 Organic growth Acquisitions Favorable currency effect 6,844 26% Corporate New contract wins Good cross-selling of Facilities Management services +7.6% Health Care and Seniors +4.8% +4.0% ORGANIC GROWTH 36% Ramp-up of contracts and same site growth Education +1.4% 38% Growth on existing sites 9 months Fiscal months Fiscal 2016 % of Fiscal 2015 revenues 20 Sodexo Overview, July 2016

21 ON-SITE SERVICES CONTINENTAL EUROPE Q3 16 millions Revenues Corporate +3.2% 4,367 Organic growth Acquisitions Unfavorable currency effect 4,399 61% Slightly improved growth in revenues at existing sites +1.8% ORGANIC GROWTH 23% Health Care and Seniors -2.1% Selective approach to new business, especially in France Ramp-up of Korian seniors contract Strong growth in Sweden 9 months Fiscal months Fiscal % % of Fiscal 2015 revenues Education Increase in volumes helped by 2 extra working days in May +2.3% 21 Sodexo Overview, July 2016

22 ON-SITE SERVICES UNITED KINGDOM AND IRELAND Q3 16 millions Revenues Corporate +23.6% 1,293 Organic growth Other Rugby Acquisitions Favorable currency effect 1,555 73% Contribution of 131m Rugby World Cup contract in Q Cross-selling services in Facilities Management +18.1% +8.4% excl. Rugby ORGANIC GROWTH 19% Health Care and Seniors Unfavorable comparable basis Widening range of services -0.5% 9 months Fiscal months Fiscal 2016 Education +16.6% 8% Strong business development On-site volume growth % of Fiscal 2015 revenues 22 Sodexo Overview, July 2016

23 ON-SITE SERVICES REST OF THE WORLD* Q3 16 millions Revenues 2,647 Organic growth Acquisitions Unfavorable currency effect 2,339 90% Corporate Severe decline in Remote Sites, stabilizing in Q3 Strong business development -5.7% -3.9% +6.5% excluding Remote Sites ORGANIC GROWTH 6% Health Care and Seniors Continued growth in Latin America and Asia +21.3% 9 months Fiscal months Fiscal % Education 0% * Latin America, Africa, Middle East, Asia, Australia and Remote Sites % of Fiscal 2015 revenues 23 Sodexo Overview, July 2016

24 BENEFITS AND REWARDS SERVICES ISSUE VOLUME AND REVENUES Q3 16 Issue volume Revenues billions 12.8 Organic growth Acquisitions Unfavorable currency effect 12.2 millions 636 Organic growth Acquisitions Unfavorable currency effect % +5.7% ORGANIC GROWTH ORGANIC GROWTH 9 months Fiscal months Fiscal months Fiscal months Fiscal 2016 Solid organic growth in Latin America despite a slowdown in Brazil Dynamic growth in Europe and Asia Organic growth is defined as growth at constant exchange rates and consolidation scope, except for Benefits & Rewards in Venezuelan Bolivar. Nine months YTD Fiscal 2016 and 2015 revenues and issue volume in VEF have been converted at the exchange rate of USD 1 = VEF 521, vs. VEF 199 previously. 24 Sodexo Overview, July 2016

25 BENEFITS AND REWARDS SERVICES ISSUE VOLUME AND REVENUES Latin America billions millions Issue volume Revenues Q % Fiscal Organic growth Acquisitions 341 Organic growth Acquisitions Unfavorable currency effect Unfavorable currency effect +8.2% +7.9% 9 months Fiscal 2015 ORGANIC GROWTH 9 months Fiscal months Fiscal 2015 Higher face values and interest rates Strong growth in Mexico and Chile Decline in number of beneficiaries in Brazil ORGANIC GROWTH 9 months Fiscal 2016 Organic growth is defined as growth at constant exchange rates and consolidation scope, except for Benefits & Rewards in Venezuelan Bolivar. Nine months YTD Fiscal 2016 and 2015 revenues and issue volume in VEF have been converted at the exchange rate of USD 1 = VEF 521, vs. VEF 199 previously. 25 Sodexo Overview, July 2016

26 BENEFITS AND REWARDS SERVICES ISSUE VOLUME AND REVENUES Issue volume Europe and Asia billions millions Revenues Q % Fiscal Organic growth Acquisitions Unfavorable currency effect Organic growth Acquisitions Favorable currency effect % +3.3% ORGANIC GROWTH ORGANIC GROWTH 9 months Fiscal months Fiscal months Fiscal 2015 Extra working days in May, in France, Belgium and Turkey and strong momentum in Belgium, Italy, Turkey and the Czech Republic Lower interest rates in Europe 9 months Fiscal Sodexo Overview, July 2016

27 SHARE REPURCHASE PROGRAM COMPLETED Q3 16 Cancellation of 3,390,886 shares corresponding to a value of 300 million euro, approved at the Board Meeting of June 14, 2016 Company s share capital After Before Company s share capital, number of shares 153,741, ,132,025 Company s share capital, in euros 614,964, ,528, Sodexo Overview, July 2016

28 28 Sodexo Overview, July 2016 FISCAL 2015 SOLID FINANCIAL PERFORMANCE

29 A YEAR OF PROGRESS A FY YEAR 15 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 29 Sodexo Overview, July 2016

30 FY 15 SOLID FINANCIAL PERFORMANCE Revenues 19.8 billion +10% Total growth +2.5% Organic growth Operating profit 1,143 million +11.9%* Excluding currency effects Operating margin 5.8% +40 bps* vs fiscal 2014 excluding currency effects * Before exceptional items related to the operational efficiency improvement program in Fiscal bps* Over two years excluding currency effects 30 Sodexo Overview, July 2016

31 FY 15 A STRONGER FINANCIAL POSITION Group Net Income 700 million +32.4% Excluding currency effects +42.9% Free cash flow 688 million +14.3% Net debt (as of August 31, 2015) Gearing ratio 339 million As of August 31, % 12% As of August 31, 2014 Proposed dividend per share Share repurchase program (as announced on Nov 2015) million +22.2% 31 Sodexo Overview, July 2016

32 FY 15 ORGANIC GROWTH Organic growth: +2.5% of which: On-site Services +2.2% Benefits and Rewards Services +9.5% 32 Sodexo Overview, July 2016

33 FY 15 ON-SITE SERVICES ORGANIC GROWTH OF +2.2% North America +1.5% United Kingdom and Ireland +12.8% +0.6% Continental Europe +1.7% Rest of the World 33 Sodexo Overview, July 2016

34 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 Health Care and Seniors Impact of partial exit from HCR ManorCare in the United States Limited business development in Europe +3.9% ORGANIC GROWTH +1.2% ORGANIC GROWTH Education More selective approach to new business Contract wins in emerging markets -0.7% ORGANIC GROWTH 34 Sodexo Overview, July 2016

35 FY 15 ON-SITE SERVICES GROWTH INDICATORS Client retention 93.4% 93.1% Comparable unit growth Business development 7.1% 7.5% 2.5% 2.2% Fiscal 2014 Fiscal 2015 Fiscal 2014 Fiscal 2015 Fiscal 2014 Fiscal 2015 including voluntary contract terminations 35 Sodexo Overview, July 2016

36 FY 15 ORGANIC GROWTH BENEFITS AND REWARDS SERVICES Latin America Increase in face values and higher interest rates +14.4% ORGANIC GROWTH IN REVENUES Europe and Asia Accelerated growth led by contract wins in Turkey, India and China +3.8% ORGANIC GROWTH IN REVENUES 36 Sodexo Overview, July 2016

37 FY 15 INCREASE IN OPERATING PROFIT* +40 bps 5.8% Operating margin 5.4% 1,143 Operating profit millions % EXCLUDING CURRENCY EFFECTS Fiscal 2014 Fiscal 2015 * Excluding currency effects exceptional items in Fiscal 2014 related to operational efficiency program 37 Sodexo Overview, July 2016

38 FY 15 INCREASE IN OPERATING MARGIN* North America 6.3% +100 bps United Kingdom and Ireland 5.1% +60 bps 4.2% +10 bps Continental Europe 4.6% +40 bps 34.5% +0 bps at constant exchange rates Benefits & Rewards Services Rest of the World * Excluding currency effects exceptional items in Fiscal 2014 related to operational efficiency program 38 Sodexo Overview, July 2016

39 FY 15 OPERATIONAL EFFICIENCY PROGRAM millions Fiscal ACHIEVED ANNUAL SAVINGS Fiscal 2014 Fiscal EXCEPTIONAL IMPLEMENTATION EXPENSES Cumulative over 18 months (Sept Feb. 2014) Sodexo Overview, July 2016

40 FY 15 INCREASED CONSOLIDATED RESULTS Revenues Operating profit before exceptional items Exceptional items Operating profit Net financial expense Income tax Effective tax rate Non-controlling interests/ Equity-accounted companies Group net income Fiscal 2015 Fiscal 2014 millions millions 19,815 18,016 1, (27) 1, (107) (173) (320) (265) 31.1% 34.8% (16) (11) At current exchange rates CHANGE At constant exchange rates +10.0% +2.6% +18.3% +11.9% +21.7% +15.1% +42.9% +32.4% 40 Sodexo Overview, July 2016

41 FY 15 CONSOLIDATED CASH FLOW millions Fiscal 2015 Fiscal 2014 CHANGE Operating cash flow % Net capital expenditure (353) (294) Change in working capital Free cash flow % Net acquisitions (49) (50) Change in shareholders equity (323) (282) Other changes (including scope and exchange rates) (284) (163) (Increase)/decrease in net debt Sodexo Overview, July 2016

42 FY 15 CONSOLIDATED BALANCE SHEET ROBUST RATIOS millions Aug. 31, 2015 Aug. 31, 2014 Aug. 31, 2015 Aug. 31, 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 Financial assets related to the BRS activity Non-current liabilities 3,593 3,830 Cash 2,008 2,748 Current liabilities 7,140 7,427 Total assets 14,477 14,478 Total liabilities & equity 14,477 14,478 Operating cash totaled 2,708 million, of which 1,476 million related to Benefits and Rewards Services 1,476 million Net debt Gearing ratio 9% 12% 42 Sodexo Overview, July 2016

43 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 % Fiscal % 57% Continental Europe United Kingdom +10% Average annual growth over 10 years 5.6bn Facilities management revenue, including 1.2bn in multi-technical maintenance services Gross margin for multi-technical maintenance services 0.6% higher than food services gross margin 6 acquisitions in 10 years across all continents 43 Sodexo Overview, July 2016

44 FY 15 SUSTAINED DEMAND FOR BENEFITS AND REWARDS SERVICES ORGANIC REVENUE GROWTH 13.0% 6.9% 8.5% 8.3% 9.5% new countries Portugal, Panama, Singapore and Taiwan Acquisition of Motivcom in the United Kingdom, Sodexo becomes European leader in incentive and recognition 65% paperless/digital Further double digit growth in Latin America 44 Sodexo Overview, July 2016

45 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 45 Sodexo Overview, July 2016

46 FY 15 BETTER LEVERAGE OUR GLOBAL CONSUMER KNOWLEDGE Strengthening relations with consumers Bringing nutritional advice Partnerships Le Village in Paris Facilitate the flow of information The Camp in Aix-en-Provence Reinforcing ties 46 Sodexo Overview, July 2016

47 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 47 Sodexo Overview, July 2016

48 FY 15 RECOGNITIONS Global Sustainability Industry Leader in its sector for the 11 th 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 Sodexo Overview, July 2016

49 49 Sodexo Overview, July 2016 OUTLOOK

50 OUTLOOK EVOLUTION OF THE ORGANIZATION CORPORATE SERVICES HEALTH CARE & SENIORS ENERGY & RESOURCES SCHOOLS UNIVERSITIES GOVERNMENT & AGENCIES SPORTS & LEISURE GLOBAL SEGMENTS 7 GLOBAL SEGMENTS DRIVE GROWTH AND CREATE VALUE THROUGH CLIENT SPECIALIZATION SERVICE OPERATIONS TRANSVERSAL FUNCTIONS 50 Sodexo Overview, July 2016

51 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 (100% PAYBACK IN FISCAL 2018) AROUND 200 MILLION IN EXCEPTIONAL EXPENSE (SEPTEMBER 2015-FEBRUARY 2017) 51 Sodexo Overview, July 2016

52 OUTLOOK FISCAL 2016 OBJECTIVES Organic revenue growth of around 3% Growth in operating profit of around 8% (excluding currency effects and exceptional items related to the adaptation and simplification program) 52 Sodexo Overview, July 2016

53 OUTLOOK MEDIUM-TERM OBJECTIVES The Group is confident of achieving its medium-term objectives: average annual growth in revenue of between 4% and 7% (excluding currency effects) average annual growth in operating profit of between 8% and 10% (excluding currency effects) 53 Sodexo Overview, July 2016

54 SHAREHOLDERS & INVESTOR RELATIONS 54 Sodexo Overview, July 2016

55 SHAREHOLDERS AND INVESTOR RELATIONS SODEXO SHARE OWNERSHIP as of August 31 st 2015 Employees 0.7% Treasury shares 3.1% Individuals 3.9% 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% 55 Sodexo Overview, July 2016

56 SHAREHOLDERS AND INVESTOR RELATIONS SODEXO SHARE OWNERSHIP as of August 31 st Sodexo Overview, July 2016

57 SHAREHOLDERS AND INVESTOR RELATIONS FISCAL 2016 FINANCIAL CALENDAR These dates are purely indicative, and are subject to change without notice. Regular updates are available in the calendar on our website 57 Sodexo Overview, July 2016

58 SODEXO SHARE PERFORMANCE 54 Sodexo Overview, July 2016

59 SODEXO SHARES Sodexo shares are listed on NYSE Euronext Paris Euroclear code: FR ; 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. Since the initial listing in 1983 SHARE PERFORMANCE, SINCE THE INITIAL LISTING IN MARCH 1983*: Share price multiplied by 43,1 (whereas the CAC 40 index has been SHARE multiplied by PRICE only 10.6, which has means been Sodexo s multiplied shares have by outperformed 65.9* the CAC 40 by a wide margin) An average annual appreciation of 13.1%, excluding dividends. * as of July 21, Sodexo Overview, July 2016

60 1. Share performance (3 months, indexed) Sodexo vs. CAC 40 As of June 30 th, {0.2%} /04/16: H Results {-3.9%} Apr-16 Apr-16 Apr-16 Apr-16 May-16 May-16 May-16 May-16 May-16 Jun-16 Jun-16 Jun-16 Jun-16 Sodexo SA France CAC Source: FactSet

61 2. Share performance (1 year, indexed) Sodexo vs. CAC 40 As of June 30 th, /11/15: FY 2015 Results 13/01/16: Q Results 14/04/16: H Results +{8.6%} /07/15: Q Results 85 {-13.9%} Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Sodexo SA France CAC Sodexo Overview, July Source: FactSet

62 4. Share performance (10 years, indexed) Sodexo vs. CAC 40 As of June 30 th, {157.1%} {-14.0%} 62 Sodexo Overview, July Source: FactSet

63 REGISTERED SHAREHOLDERS Benefits for Registered Sodexo shareholders : reduced administration costs (for pure registered shares only); double voting rights for registered shares held for at least four years; and since 2014, a dividend premium of 10% for registered shares held for more than four years (limited to 0.5% of issued capital per shareholder) Contacts for Registered Shareholders: Registered shareholders accounts are managed by Société Générale, which also acts as transfer agent for all Sodexo shares. 63 Sodexo Overview, July 2016

64 SODEXO ADR PROGRAMME Sodexo offers investors the convenience of investing in American Depositary Receipts (ADRs) ADR Symbol SDXAY Platform OTC CUSIP DR ISIN US Underlying ISIN FR SEDOL Depositary bank Citi ADR ratio 1 ORD:5 ADR Benefits of ADRs to US investors They clear and settle according to normal US standards Stock quotes and dividend payments are in US dollars They can be purchased in the same way as other US stocks via a US broker They provide a cost effective means of building an international portfolio. For questions about Sodexo ADRs, please contact Citi: New York London Michael O Leary Michael Woods michael.oleary@citi.com michael.woods@citi.com Tel: Tel: Sodexo Overview, July 2016

65 65 Sodexo Overview, July 2016 APPENDICES

66 APPENDIX 1 Q PRINCIPAL EXCHANGE RATES millions 1 = Average rates 9 months Fiscal 2016 Change Impact of exchange rates vs. the euro on 9 months Fiscal 2016 Revenues Period-end rates May 31, 2016 Period-end rates May 31,2015 Change U.S. Dollar % % Pound Sterling % % Brazilian Real % % 66 Sodexo Overview, July 2016

67 APPENDIX 2 FY SENSITIVITY TO EXCHANGE RATES millions 1 = Average rate Fiscal 2015 Change Closing rate Aug. 31, 2015 Change Impact of a 10% appreciation of the exchange rate of the following currencies against the euro on Revenues Operating profit Shareholders equity U.S. dollar % % Pound Sterling % % Brazilian Real % % Sodexo Overview, July 2016

68 APPENDIX 3 FINANCIAL DEBT ANALYSIS* AT FEBRUARY 29, 2016 millions BY CURRENCY BY MATURITY 41% < 1 year 50 59% $ 1-2 years 6 INTEREST RATE 2-3 years % Variable 99.5% Fixed 3-4 years 4-5 years Average interest rate 3.4% H1 FY 2016 (to February 29, 2016) > 5 years 2,289 Versus 3.8% for FY 2016 * Financial debt of 2,802 million (excluding derivative financial instruments for (2) million) 68 Sodexo Overview, July 2016

69 APPENDIX 4 FINANCIAL RATIOS AS OF AUGUST 31, 2015 Gearing ratio Net debt/shareholders' equity objective < 75% Reimbursement capacity Gross financial debt/ Operating cash flow 21% objective < 4 years % % 9% 4.1 Fiscal 2012 Fiscal 2013 Fiscal 2014 Fiscal 2015 Fiscal 2012 Fiscal 2013 Fiscal 2014 Fiscal Sodexo Overview, July 2016

70 APPENDIX 4 FINANCIAL RATIOS AS OF AUGUST 31, 2015 Interest cover Operating profit/ Net financial expense Net debt ratio Net debt/ebitda objective < 2 years objective > Fiscal 2012 Fiscal 2013 Fiscal 2014 Fiscal 2015 Fiscal 2012 Fiscal 2013 Fiscal 2014 Fiscal Sodexo Overview, July 2016

71 APPENDIX 5 INVESTOR RELATIONS CONTACTS Head of Investor Relations Virginia JEANSON Tel : virginia.jeanson@sodexo.com Investor Relations Manager Alejandra LEFEBVRE Tel : alejandra.lefebvre@sodexo.com Investor Relations Coordinator Cynthia CATTY Tel : cynthia.catty@sodexo.com Sodexo 255 Quai de la Bataille de Stalingrad Issy Les Moulineaux communication.financiere@sodexo.com 71 Sodexo Overview, July 2016

72 THANK YOU! 72 Sodexo Overview, July 2016