Sodexo expects turnover to fall nearly by half

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French caterer Sodexo expects the corona crisis to cut turnover by 2.4 billion to 2.8 billion euros. The company is suffering from the outbreak and measures to fight the pandemic because schools and companies are closed and events are canceled. As a result, there is less demand for Sodexo’s catering and cleaning services.

Last month, Sodexo had already warned that sales would be hit by the crisis and the annual forecasts were withdrawn. In the first half of the broken fiscal year ended in late February, sales amounted to 11.7 billion euros, an increase of almost 6 percent year-on-year. Net profit was EUR 378 million.

Sodexo is active in 67 countries and has 470,000 employees worldwide.


By: Maurice Eisma

Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com

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