Registration Document

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The Fundamental Principles of Sodexo’s Development
Our strategy
‡ Our strategy
To define a strategy is to make a choice. It is to decide
what we will do and, especially, what we will not do.
1. SODEXO IS AND WILL REMAIN A SERVICES COMPANY
Why services?
The conclusion was simple: the service sector would
grow much faster than primary and secondary sectors.
Today, this sector provides 75% of the jobs in France,
compared with 22% in industry and construction and
3% in agriculture. The same holds true for all major
economies: in the U.S., the UK and China, services
account for 75% of the jobs created.
The second pillar of our strategy is very clear:
Sodexo Registration Document Fiscal 2011
When Sodexo was created in 1966, we made two
major choices that remain pillars of our strategy.
Which services?
Those that are consistent with our mission:
Sodexo has become the world leader in Quality of
Life services.
2. SODEXO IS AND WILL REMAIN AN INDEPENDENT COMPANY
Since Sodexo’s creation in 1966, independence has
been one of its fundamental principles. Independence
enables the Group to:
• maintain its values;
• focus on a long-term strategy;
• maintain management continuity; and
• ensure its durability.
Today, Sodexo’s independence pervades its
relationships with all stakeholders, including:
• our clients (our largest client worldwide represents
less than 2% of our total revenues);
• our suppliers (our largest industrial supplier
represents less than 3% of our overall purchasing);
• our financing partners;
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• any external organization that would limit the
Company’s proper functioning;
• public authorities;
• Sodexo’s financial independence is guaranteed
through a controlling family shareholding.
our financial independence rests on two simple
principles:
• choosing activities with low capital intensity and
average investments (excluding acquisitions) that
represent around 2% of revenues;
• permanent access to sufficient cash resources to
finance development, reimburse medium term
borrowings and pay a dividend to shareholders.