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 supplier represents less than 3% of our overall purchasing);

• Our financing partners;

• Any external organization that would limit the company’s proper functioning.

Sodexo’s financial independence is guaranteed through a controlling family shareholding with Bellon SA (family holding) holding 37.7% of the capital and 50.9% of the voting rights.

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.