Sodexo : Improved organic growth but no real turning point at the operating level in the short term
>The earnings report contains some encouraging elements… - We noted several encouraging points in this FY 2017-18 full-year results publication, in particular: 1/ the acceleration in organic growth in Q4 (+3.5% excluding the 53rd week after +1.6% in the first nine months); 2/ good momentum in the benefits & rewards division (23% of EBIT), which benefited from the return to positive growth in Brazil while the margin should improve in 2019 (Oddo BHF +50bp) boosted by th...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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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