FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: SODEXHO ALLIANCE SA
CENTRAL INDEX KEY: 0001169715
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT SERVICES [8741]
IRS NUMBER: 000000000
FISCAL YEAR END: 0831
FILING VALUES:
FORM TYPE: 6-K
SEC ACT: 1934 Act SEC
FILE NUMBER:
FILM NUMBER:
BUSINESS ADDRESS:
STREET 1: 3 AVENUE NEWTON
STREET 2: 78180 MONTIGNY-LE-BRETONNEUX
CITY: FRANCE
STATE:
ZIP: 00000
BUSINESS PHONE: 0113313085
6-K
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
April 9, 2003
SODEXHO ALLIANCE SA
3, avenue Newton
78180 Montigny-le-Bretonneux
France
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
Contents: First Half 2002-2003 revenues
EXHIBIT LIST
Exhibit Description
99.1 First Half 2002-2003 revenues
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SODEXHO ALLIANCE SA
By: /s/ Sian Herbert-Jones
-------------------------------
Name: Sian Herbert-Jones
Title: Chief Financial Officer
Date: April 9, 2003
EX-99.1
First Half 2002-2003 revenues
Exhibit 99.1
First Half 2002-2003 revenues
Code EURONEXT: EXHO.PA / Code NYSE: SDX
This press release contains "forward-looking statements" within the meaning of
the United States Private Securities Litigation Reform Act of 1995. These
include, but are not limited to, statements regarding anticipated future
events and financial performance with respect to our operations. Forward-
looking statements can be identified by the fact that they do not relate
strictly to historical or current facts. They often include words like
"believe", "expect", "anticipate", "estimated", "project", "plan", "pro forma"
and "intend" or future or conditional verbs such as "will", "would" or "may".
Factors that could cause actual results to differ materially from expected
results include, but are not limited to, those set forth in our Registration
Statement on Form 20-F, as filed with the Securities and Exchange Commission
(SEC), the competitive environment in which we operate,changes in general
economic conditions and changes in the French, American and/or global financial
and/or capital markets. Forward-looking statements represent management's
views as of the date they are made, and we assume no obligation to update any
forward-looking statements for actual events occurring after that date. You
are cautioned not to place undue reliance on our forward-looking statements.
First Half 2002-2003 revenues
Paris, France - April 9, 2003 - In the first six months of fiscal 2002-2003,
Sodexho Alliance consolidated revenues reached euro 6.2 billion. As compared to
the prior year period, revenue growth evolved as follows:
o Organic growth: 2.9%
o Acquisitions, net of divestitures: -0.2%
o Currency effect: -8.8%
Organic growth of 2.9% was offset by the strong appreciation of the euro
against other currencies, in particular the US dollar, which led to a
negative currency conversion effect in our consolidated accounts of 8.8%.
This is only a conversion effect since in each of our subsidiaries income from
our services and the corresponding expenses (cost of goods and labor) are
expressed in the same currency. This currency effect results in a net total
variation in our revenues of -6.1% for the first half of 2002-2003.
Half-year revenues by region and activity
------------------------------------------------------------------------------
Activity Revenues Organic
(millions of euro) Growth
------------------------------------------------------------------------------
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Food and management services 5 739 + 2,6 %
North America 2 950 3,3 %
Continental Europe 1 799 4,3 %
United Kingdom and Ireland 756 -4,4 %
Rest of the world 234 6,0 %
------------------------------------------------------------------------------
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Remote Sites 270 + 0,6 %
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Service Vouchers and Cards 127 + 17,9 %
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o Food and management services
In Food and Management Services, organic growth by segment was 3.8% in
Healthcare, 3.4 % in Education and 1.5% in Business and Industry
(-1.3 % excluding Defense).
North America
Revenues for the Healthcare and Seniors segment increased by 2.9%, reflecting
our teams' efforts to develop growth on existing sites and winning multi-
service partnership contracts with our clients. Some examples include Fairview
System in Minneapolis, the Children's Hospital in Seattle and Providence
Medical Center in Kansas City where staff remain directly on the client's
payroll. Revenues do not therefore reflect our real economic development.
Despite the impact of snowstorm-related school closures on the East Coast of
the USA, the Education segment's revenues grew by 3.6%; we continue to expand
into multi-service with new clients such as Grace College, Tiffin University,
and Walton County School District and to increase existing sites' revenues
with adapted merchandising offers utilizing innovations, such as Cafe a la
Carte.
Revenues in the Business, Industry and Defense segment grew by 3.3% (-1.9 %,
excluding Defense). The effect of the national contract with Hewlett Packard
and several new contract openings, including Bell South, General Mills,
Nationwide Insurance Training Center and Sony Pictures, was more than offset
by the impact of the economic slowdown, most notably continued client
headcount reductions.
Since October 1, 2002, Sodexho has provided food service operations on 55 U.S.
Marine Corps sites. As a result of the recent deployment of U.S. Marines to
the Persian Gulf, only four U.S. mess halls have been temporarily closed. At
the same time our client has requested that we expand certain services. We
have established a strong relationship of mutual respect and true partnership
with the U.S. Marine Corps and they have recently assured to us that they are
satisfied with our performance and have no basis to cancel our contract.
Continental Europe
Organic growth reached 4.3%,with 8.2% growth in the Healthcare segment, 4.1%
growth in Education, and 2.9% growth in Business and Industry.
These increases mainly resulted from the commencement of a Healthcare
contract signed with the local municipality of Stockholm, a multi-service
contract signed with the Swedish army, and several significant successes such
as Sanofi-Synthelabo and Canon in France, Nuon in the Netherlands, Nokia in
Finland, Mobistar in Belgium and Santander Group in Spain.
United Kingdom and Ireland
As announced in November, priority has been given to improving profitability.
Excluding the impact of the sale of Lockhart and currency impacts, revenues
declined by 4.4%. The primary reasons for this include: continued layoffs by
our clients, site closures in the engineering and manufacturing sectors, the
impact of a lower prior year retention in Healthcare, and the decision made by
our new management team in the United Kingdom to exit certain unprofitable
contracts (most notably in the hotel sector).
o Remote Sites
Organic growth of 0.6% resulted from good performances in the North Sea
and Latin America, despite significantly diminished foraging activities in
the Gulf of Mexico.
o Service Vouchers and Cards
Organic growth continued steadily at 17.9% through the half-year arising from:
- The expansion of our line of service offerings to existing clients,
including Gift Pass, Training Pass, Food Pass and Restaurant Pass,
- The launch of new services such as Adviescheques (Consulting Pass) in
association with the Flemish government permitting small businesses to use
consultants,
- And client wins such as Business Objects in France and Pepsi in Hungary.
About Sodexho Alliance
Founded in Marseille in 1966 by Chairman and Chief Executive Officer Pierre
Bellon, Sodexho Alliance is the world's leading provider of food and
management services.With more than 315,000 employees on 24,700 sites in 74
countries, Sodexho Alliance reported consolidated sales of 12.6 billion euros
for the fiscal year that ended on August 31, 2002.The Sodexho Alliance share
has been listed since 1983 on the Euronext Paris Bourse, where its market value
totals 3.3 billion euro. The Sodexho Alliance share has been listed since
April 3, 2002, on the New York Stock Exchange.
Press Relations : Jerome Chambin
Tel: + 33 (1) 30 85 74 18 Fax: + 33 (1) 30 85 52 32
E-mail: Jerome.Chambin@sodexhoalliance.com
Investor Relations : Jean-Jacques Vironda
Tel: + 33 (1) 30 85 29 39 Fax: + 33 (1) 30 85 51 81
E-mail: Jean-Jacques.Vironda@sodexhoalliance.com