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
January 8, 2004
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: Fiscal 2002-2003 Nine Month Revenues
EXHIBIT LIST
Exhibit Description
99.1 Fiscal 2003-2004 Nine Month 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: January 8, 2004
EX-99.1
Fiscal 2003-2004 First Quarter 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.
Paris, January 7, 2004 - Revenues for the First Quarter of Fiscal 2003-2004
Sodexho Alliance's consolidated revenues for the first quarter of fiscal
2003-2004, which ended November 30, 2003, totaled 3.1 billion euros.
For the first quarter of 2003-2004:
- Organic growth was 4.9%.
- The euro's sharp appreciation against other currencies, in particular the
U.S. dollar, led to a negative currency effect of 9 %. As a result,
revenues declined by 4.1% as compared to the same period in the prior year.
It should be noted that, unlike exporting businesses, our subsidiaries'
operating revenues and expenses are denominated in the same currency; as a
result, exchange rate variations do not result in operating risk.
Revenues by business and region
Business Revenues Organic growth
(in euro millions)
Food and Management Services: 3,075 5.0%
o North America 1,466 5.0%
o Continental Europe 975 3.7%
o United Kingdom and Ireland 330 - 7.2%
o Rest of the World
(including Remote Sites) 304 28.2%
Service Vouchers and Cards 60 1.9%
-------
TOTAL 3,135 4.9%
=======
Food and Management Services
In Food and Management Services, organic growth in revenues by segment
amounted to 5.8% in Business and Industry, 2.9% in Healthcare and 5.2%
in Education.
In Business and Industry, this first quarter performance includes three
months of activity with the US Marine Corps compared with two months in
the prior period, and, in connection with the Rugby World Cup in
Australia, a "hospitality package" contract for 45 million euros as
well as 6 million euros for the related food services provided at the
Telstra Stadium in Sydney.
North America
Business and Industry revenues (excluding the Defense segment) declined
by 0.1%. The gradual opening of contracts signed in the prior year and
the good commercial development evidenced by the signature of contracts
such as the University of Washington's conference center, Honda and
Agere Systems, offset the negative effects of the continued
delocalisations and reductions in staff in industry. Among recent
successes is a global master service agreement with ConocoPhillips for
revenues of USD 250 million over 6 years.
Organic growth in Healthcare and Seniors revenues was 4.5%. This
progression reflects good performance on existing sites as well as the
opening of new hospitality contracts at the end of the prior year.
Other recent commercial successes such as, for example, the University
of Virginia Medical Center and Dekalb Regional Healthcare System will
begin to have a favorable impact during the year.
The Education segment's revenues increased by 6.4% due to increases in
revenues on existing sites as well as strong new sales in the public
school sector, notably in Atlanta and St. Louis.
Continental Europe
Organic revenue growth was 3.2% in Business and Industry, 4.5% in
Healthcare and 4.4% in Education.
The economic environment in the Business segment remains difficult,
notably in France and in Northern Europe. However, the organic growth
in revenues for the quarter remains steady as a result of the opening
of contracts signed at the end of last year such as Wal-Mart in
Germany, Nokia in Finland and Endesa in Spain.
In Healthcare, our hospitality offering has allowed us to pursue the
development of revenues in existing sites and to achieve new sales such
as the Blois Polyclinique in France and the Medical School of the city
of Gdansk in Poland.
In the Education segment, we had good commercial success, for example,
food service contract awards for the schools of the city of Budapest, a
school district in Stockholm and the Frankfurt public children's
schools, the first contract awarded in the former West Germany to a
food service company.
United Kingdom and Ireland
On a constant exchange rate basis, revenues declined by 7.2%, since in
order to improve the profitability of the subsidiary, non-profitable
contracts were terminated during the prior year in Business and
Industry and in Healthcare.
Rest of the World
Across this zone, organic growth was 28.2% due to strong sales dynamics
in China and Brazil, the Rugby World Cup, and in the Remote Sites
activity.
Service Vouchers and Cards
The Service Vouchers and Cards business reported weak organic growth of
1.9% for the quarter. Revenues include commissions from clients and
affiliates and income from investment of operating cash flow.
New contracts were won such as Dacia-Renault-Nissan in Romania, and
European retailer Aldi in Belgium, and the culture voucher was extended
in France.
The general decrease in interest rates, notably in Latin America and
staff reductions in our clients' businesses principally in Germany have
weighed on this growth. In addition, during the first quarter of the
prior year, we billed the Home Office in Great Britain additional
charges in connection with the change from paper vouchers to magnetic
cards. This new system increases the reliability and security of the
service while at the same time reducing the client's distribution
costs.
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 308,000 employees on 23,900 sites in 76
countries, Sodexho Alliance reported consolidated sales of 11.7 billion
euros for the fiscal year that ended on August 31, 2003. The Sodexho
Alliance share has been listed since 1983 on the Euronext Paris Bourse,
where its market value totals 3.9 billion euros. The Sodexho Alliance share
has been listed since April 3, 2002, on the New York Stock Exchange.