Registration Document

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DIVIDENDS PAID
Our Group 03
Financial performance
(euro in millions) (U.S. dollars in millions*)
Fiscal 2007 179 263
Fiscal 2008 197 281
Fiscal 2009 197 250
Fiscal 2010 208 301
Fiscal 2011** 229 331
* Calculated at the closing exchange rate for each year of payment; for Fiscal 2011: 1 euro = 1.4450 U.S. dollars.
** Subject to approval at the Annual Shareholders’ Meeting of January 23, 2012.
At the General Shareholders Meeting on January 23,
2012, Sodexo’s Board of Directors will propose
to distribute a dividend of 1.46 euro per share,
an increase of 8.1% over the previous year. This
NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES
represents a payout ratio of around 50% of Group
net income and a yield of 2.8% based on a share price
of 51.82 euro (as of August 31, 2011).
(euro in millions) (U.S. dollars in millions*)
Fiscal 2007 753 995
Fiscal 2008 780 1,172
Fiscal 2009 577 780
Fiscal 2010 1,006 1,371
Fiscal 2011 847 1,177
* Calculated at the closing exchange rate for each year of payment; for Fiscal 2011: 1 euro = 1.3896 U.S. dollars.
Net cash provided by operating activities was
847 million euro in Fiscal 2011. This compares with
1,006 million euro provided by operating activities in
Fiscal 2010, which benefited from exceptional cash
NET DEBT AS A PERCENTAGE OF SHAREHOLDERS’ EQUITY*
(Including non-controlling interests)
flows from issue volumes in the Motivation Solutions
activity, notably resulting from the startup of the Eco
Pass contract in Belgium.
Fiscal 2007 5%
Fiscal 2008 21%
Fiscal 2009 38%
Fiscal 2010 24%
Fiscal 2011 15%
* Debt net of cash and financial assets related to Motivation Solutions activity, less bank overdrafts.
Sodexo Registration Document Fiscal 2011
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