March 18, 2020 / 6:12 AM / 22 days ago

French group Sodexo: coronavirus could impact annual revenues by 2 bln euros

PARIS, March 18 (Reuters) - French catering and food services group Sodexo said on Wednesday that the the global coronavirus crisis could impact its annual sales by 2 billion euros ($2.2 billion), even though its first-half performance was currently in line with forecasts.

“The first half figures include a mild shortfall in revenues in China and Italy due to COVID-19 that we have been able to absorb,” Sodexo said in a statement.

“We are currently running a full bottom-up forecast exercise based on closures and revised traffic estimates and will provide an update on April 9th along with our H1 results. Currently, early estimates, given the many moving parts, could be for an impact of around 2 billion euro on annual revenues,” it added.

$1 = 0.9064 euros Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon

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