ANNUAL REPORT 2006-2007

ENSURING GOVERNANCE AND TRANSPARENCY SODEXO AROUND THE WORLD
> Financial Summary
ACTIVITY REPORT FISCAL 2007
Organic growth reached 8.4% in Fiscal 2007,
representing an improvement of four percentage
points in two years. All segments of the Food and
Facilities Management services and Service Vouchers
and Cards activities contributed to this performance.
Largely as a result of the turnaround of Sodexo’s UK
operations, better management control in the Rest
of the World and strong growth in issue volumes
in the Service Vouchers and Cards activity, operating
profi t rose by 14.5% at constant exchange rates
and excluding the impact in Fiscal 2006 of the gain
on disposition of the Spirit Cruises river and harbor
cruise subsidiary and the fi nal release of the provision
for the U.S. litigation.
CONSOLIDATED RESULTS
(in millions of euro) Fiscal 2007 Fiscal 2006
Change at current
exchange rates
Change at constant
exchange rates
Revenues 13,385 12,798 4.6% 8.3%
Cost of sales (11,396) (10,957)
Gross profi t 1,989 1,841 8.1% 11.2%
Sales department costs (174) (159)
General and administrative costs (1,181) (1,104)
Other operating income and charges 6 27
Operating profi t 640 605 5.7% 9.2%
Net fi nancing costs (100) (108)
Share of profi t of associates 7 8
Profi t for the period before tax 547 505 8.3% 12.0%
Income tax expense (184) (172)
Profi t for the period 363 333
Profi t attributable to minority interests 16 10
Initiatives to improve site productivity (by managing
food and labor costs), implemented across all
geographies, allowed Sodexo not only to reinvest
in the resources needed to secure our future growth,
in particular, human resources, but also to improve
consolidated operating margin.
Net cash provided by operating activities totaled
753 million euro, 54.3% higher than in Fiscal 2006,
once again demonstrating the Group’s excellent
fi nancial model.
The fi nancial statements for Fiscal 2007 were prepared in accordance with International Financial Reporting
Standards (IFRS).
Profi t attributable to equity holders
of the parent
347 323 7.5% 11%
Diluted earnings per share (in euro) 2.22 2.07 7.5% 11%
The currency impact is calculated by applying the average exchange rates for the previous fi scal year to
the current fi scal year fi gures. In Fiscal 2007, the effect of movements in the exchange rate of the U.S. dollar
against the euro was (434) million euro on revenues, (17) million euro on operating profi t and (9) million euro
on profi t attributable to equity holders of the parent.
Sodexo_Annual Report 2006-2007
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