SODEXO: FY guidance that could be at risk | NEUTRAL vs. CONVICTION BUY | EUR95(+28%)
SODEXO - NEUTRAL vs. CONVICTION BUY | EUR95(+28%)FY guidance that could be at risk
L H1 2021-22 results ending in February which will be published on 1 April, should confirm the continued recovery quarter after quarter despite the impact of the new health measures introduced at the end of last year on Q2. If the impact of the health crisis fades, the extent of the consequences of the invasion of Ukraine, particularly on food commodity prices after that of salaries, could largely call into question management guidance for the current FY. In view of this situation and pending this, we downgrade our opinion to neutral.
Sodexo is a services company which partners with companies, institutions and local authorities. Co. designs, manages and delivers Quality of Life services. Co.'s offers are: On-Site Service Solutions (Co.'s services are: Corporate, Defense, Justice Services, Remote sites, Health Care, Seniors, Education and Sports and Leisure), Benefits and Rewards Services Solutions (Co.'s offers focus on the following services: recruit and retain employees and increase their motivation; mobilize teams around quantitative or qualitative objectives; ensure delivery of Public Benefits), and Personal and Home Services (services in childcare; tutoring and adult education; concierge services and senior care).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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