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N100:SW, Nov 15, 03:33 UTC

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Rydoo, the Sodexo Corp-up, Expands Its Global Footprint and Opens Offices in Manila and Lisbon

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“Business travel and expense management is booming (forecasts anticipate a further 7.1% increase in spending in 2018 to reach US$1.7 trillion by 2022*). The market is looking for a global solution that employees can easily adopt across the globe,” explains Sebastien Marchon, CEO of Rydoo. The time is right for us to expand our presence in Asia-Pacific and open new hubs.. Manila and Lisbon are great places when it comes to innovation and talent,” explains Sebastien Marchon, CEO of Rydoo. Rydoo is a Sodexo corp-up, an alliance of two startups and a large corporation.

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Monday, November 12


News

Sodexo Expands Global Homecare Presence to Brazil, Acquiring a Majority Interest in Pronep

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The transaction is expected to close at the end of November, 2018. By 2050, Brazil will have the world's fourth-largest elder population, behind only China, India and the United States, and this is an opportunity to expand care to an underserved market. Sarosh Mistry, Sodexo Home Care Worldwide CEO said: "We welcome Pronep to Sodexo. There is alignment in our corporate values and commitment to the communities in which we live and serve. Sodexo Home Care has developed a strong business in the U.S., France, Ireland, and the UK, and our entry into Brazil, our first in Latin America, is a chance to build upon the success Pronep has had in redefining the way care is delivered in the rapidly growing Brazilian market. " Josier Marques Vilar, MD, Pronep founder said: "Pronep is pleased to become part of the worldwide Sodexo Home Care family. Sodexo has an unmatched reputation as a leader in helping improve quality of care in the communities they serve, which supports our mission and ambitions of expanding our senior care throughout Brazil. The opportunity is extraordinary, and I am looking forward to working together to achieve Pronep's ambitious growth plans." Operating in 12 countries, Sodexo Global Home Care employs approximately 35,000 people and provides care for 32,000 clients.

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  • Health
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Thursday, November 08


News

European shares eke out gains as Sodexo, banks jump

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(For a live blog on European stocks, type LIVE/ in an Eikon news window). * Banks rise 1.1 percent after Commerzbank (Xetra: CBK100 - news) , SocGen (Paris: FR0000130809 - news) , BPM results. LONDON, Nov 8 (Reuters) - European shares were flat to slightly higher on Thursday, paring gains as a rally following the U.S. midterm elections sputtered while strong results from SocGen and Commerzbank and France's Sodexho soothed concerns about corporate earnings. The leading index of euro zone stocks was flat, with Germany's DAX down 0.1 percent and France's CAC 40 0.2 percent higher.

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News

European shares hit one-month high as banks, Sodexo shine

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European shares hit one-month high as banks, Sodexo shine. (Reuters) - European shares rallied to one-month highs on Thursday, extending gains following the U.S. midterm elections, as strong results from SocGen and Commerzbank and France's Sodexo soothed concerns about slowing corporate earnings. The leading index of euro zone stocks .STOXX50E rose 0.4 percent with Germany's DAX .GDAXI up 0.4 percent and France's CAC 40 .FCHI 0.4 percent higher. The banking and insurance indexes .SX7P .SXIP were among the top performing sectors, each up 1.1 percent, with travel and leisure .SXTP flying high after Sodexo's (EXHO.PA) better-than-expected revenue.

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French company Sodexo cautions recovery going to take some time

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U.S. French company Sodexo cautions recovery going to take some time. Nov 8 (Reuters) - French food services and facilities management group Sodexo vowed on Thursday to accelerate sales growth in the current fiscal year although it cautioned that its turnaround would take some time. Sodexo, the world's second-biggest catering company after Compass Group, made the forecasts after it posted a well-flagged slowdown in sales growth and a lower operating profit margin for the fiscal year ended Aug. 31. Sodexo had warned in March that it would not meet its sales and profit targets for the year due to weakness in its North American business, where cost savings have lagged and several large contracts have taken time to pay off. Sodexo reported a 1.6 percent rise in like-for-like revenue of 20.407 billion euros ($23.33 billion), a slowdown from 1.9 percent growth achieved the previous year. An Inquiry Financial poll for Reuters had forecast revenue of 20.277 billion. Its underlying operating profit margin reached 5.7 percent, excluding currency impacts, against 6.4 percent a year ago, in line with the company's revised guidance. For the current 2018/19 fiscal year, Sodexo forecast underlying revenue growth of between 2 percent and 3 percent and an underlying operating profit margin of between 5.5 percent and 5.7 percent, at constant exchange rates.

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News

French company Sodexo cautions its recovery will take some time

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French company Sodexo cautions its recovery will take some time. PARIS (Reuters) - French food services and facilities management group Sodexo vowed to accelerate sales growth in the current fiscal year although it cautioned its turnaround would take some time. Sodexo, the world's second-biggest catering company after Compass Group, made the forecasts after it posted a well-flagged slowdown in sales growth and a lower operating profit margin for the fiscal year ended Aug. 31. Sodexo reported a 1.6 percent rise in like-for-like revenue of 20.407 billion euros ($23.33 billion), a slowdown from 1.9 percent growth achieved the previous year. "Healthcare and education in North America continue to drag on our performance, and the turnaround is going to take some time," he added. Sodexo had warned in March that it would not meet its sales and profit targets for the year due to weakness in its North American business, where cost savings have lagged and several large contracts have taken time to pay off. Revenue from on-site services fell 1.1 percent in north America but grew 4.5 percent in other regions. For the current 2018/19 fiscal year, Sodexo said it was confident of delivering underlying revenue growth of between 2-3 percent, citing a "neutral" net new business in education in North America, signs of a pickup in sales in healthcare and continued solid growth in developing economies.

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Monday, November 05


News

Sodexo Selected to Provide Elevated Dining Experience for Ronald Reagan Presidential Library and Museum

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"The Reagan Library is one of our nation's truly special experiences, and we are determined to curate a food service experience that lives up to this high standard," said Moses DeBord, vice president, Sodexo Sports & Leisure. New technology upgrades include the installation of innovative new kiosks and mobile ordering platforms, dynamic digital menu boards and signs, pagers for meal delivery, self-ordering POS stations and online ordering for staff and volunteers—all to improve quality and speed of service, and enhance the dining experience. Sodexo chefs will recreate President and Mrs. Reagan's favorite items and introduce new offerings to delight guests and celebrate special exhibits and seasonal holidays. The Library's 300-acre site, about 45 miles from Los Angeles International Airport (LAX), represents the "shining city on a hill" often referenced by President Reagan and appropriately serves as the final resting place of the nation's 40th President. As a Presidential library administered by the National Archives and Records Administration (NARA), the Reagan Library, under the authority of the Presidential Records Act, is the repository of presidential records for President Reagan's administration. The Foundation is a non-partisan organization which sustains the Ronald Reagan Presidential Library and Museum in Simi Valley, CA, the Reagan Center for Public Affairs, the Presidential Learning Center, The Air Force One Pavilion and the award-winning Discovery Center, as well as the Reagan Institute in Washington, D.C. About Sodexo North America. Sodexo North America is part of a global, Fortune 500 company with a presence in 80 countries. Sodexo is a leading provider of integrated food, facilities management and other services that enhance organizational performance, contribute to local communities and improve quality of life for millions of customers in corporate, education, healthcare, senior living, sports and leisure, government and other environments daily.

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Wednesday, October 31


News

Sodexo acquires leading Swiss caterer Novae Restauration

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Paris, October 31, 2018 - Sodexo (NYSE Euronext Paris FR 0000121220-OTC: SDXAY), world leader in Quality of Life services, announces the acquisition of Novae Restauration, significantly expanding its footprint in the attractive Swiss market. Founded in 2003, Novae Restauration is the leading independent player in high-end catering services for French-speaking Switzerland, with 700 employees serving a network of over 80 prestigious client sites. Novae Restauration and Sodexo Switzerland have complementary client portfolios and offers: Novae Restauration`s comprehensive offer of premium catering services complements Sodexo Switzerland`s position as a facilities management provider on the German Swiss market, providing the opportunity to develop a fully integrated services offer. Novae Restauration will continue to operate under its name and the experienced operational management team will stay with the business to drive future growth, particularly in the corporate, institutional and education sectors, under the leadership of Christian Volmerange from Sodexo, who is appointed Managing Director for Novae Restauration, effective immediately.

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Thursday, October 25


News

Sodexos Digital Gifting Solutions are Perfect for Last-minute Employee Gifting This Festive Season

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(Photo: https://mma.prnewswire.com/media/774626/Sodexo_Virtual_Card_Key_visual.jpg ) Stephane Michelin, CEO, Sodexo BRS India said, "Sodexo is constantly developing solutions to suit the millennial workforce. This revolution in employee gifting will deliver the cards on to employees' mobile app within a few hours where they can manage all their benefits on a single mobile app. The cards are designed to offer employees a seamless experience enabling corporates to drive better employee engagement. Sodexo is revolutionizing the employee gifting trend by addressing the needs of the millennial workforce. Sodexo Premium Pass gift cards in partnership with IDFC Bank are accepted at 2 million retail outlets and 90,000+ online portals on the Rupay Network, offering a greater choice to employees. Sodexo's 11,000+ corporate clients across India can now enjoy one-touch ordering of the gift cards via the Sodexo Web Ordering System, SWOS. The company also has a revolutionary virtual B2B gifting solution, Sodexo Premium Pass - Virtual Card. Sodexo reaches out to over 3 million daily consumers in India across 1,500+ cities nationally including tier 3 & tier 4 cities making it India's largest Digital Meal Benefit Network with over 100,000 unique points of acceptance. For more information regarding our services, please call our toll-free numbers 1800-267-3030 / 1800-103-3030 or visit our website http://www.sodexobenefitsindia.

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Tuesday, October 16


News

Sodexo named 2018 Business Partner of the Year by The National Association of College Auxiliary Services

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"We are excited to be recognized for our ongoing commitment to both our clients and the NACAS organization," said Aubry Wooten, senior vice president, Universities, Sodexo North America. "We are always looking for opportunities to increase customer satisfaction and make a positive impact in communities where we operate." Sodexo was nominated as, and ultimately named, Business Partner of the Year NACAS West by two of the company's clients, University of Hawai'i at Mānoa and New Mexico State University. NACAS Members work at a leadership level within 4-year and 2-year colleges and universities located worldwide and oversee multiple auxiliary services, making executive decisions that shape them to create hospitable and well-rounded campus communities. As the leading organization supporting all campus services, NACAS is the community-of-choice for strategic leaders who advance campus environments to improve the quality of life for students. About Sodexo North America. Sodexo North America is part of a global, Fortune 500 company with a presence in 72 countries. Sodexo is a leading provider of integrated food, facilities management and other services that enhance organizational performance, contribute to local communities and improve quality of life for millions of customers in corporate, education, healthcare, senior living, sports and leisure, government and other environments daily.

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  • Science