Sodexo: Bank of America welcomes a faster-than-expected recovery which restores potential to the action of the French collective catering giant
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Every week, Le Figaro Patrimoine et Bourse relays confidential information identified in analyst notes to help you in your investment decisions.
A recovery made credible by the annual turnover. This is the opinion of Kate Xiao, Muneeba Kayani and Jack Raeburn, the analysts who follow the Sodexo file for Bank of America (BofA).
The annual accounts (closed at the end of August) constitute a pleasant surprise, because they are “above expectations on all indicators” and organic growth of 2% exceeds the consensus, with an acceleration in the 4th quarter, to 2.6%. Furthermore, the contract retention rate, a forward-looking indicator, increased to 94.4%, compared to around 94% previously, “one of the highest recorded by Sodexo over the last 15 years”.
Finally, new contract gains improved to +7.7%, compared to +5.3% in the first half. Data which suggests that beyond the most important of them, Meta, “Sodexo wins contracts in a fairly widespread manner”. In addition, analysts give a new estimate of the operating margin for the 2027 financial year at 866 million euros…
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- Le Figaro10 Nov, 09:43
| Publisher Le Figaro (established tier) | +76 |
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