Sodexo exceeded market expectations on Friday for its first-quarter sales, as the resumption of face-to-face work, the reopening of various locations and price increases enabled its business to exceed pre-pandemic levels.

The foodservices provider's sales came in at 6.33 billion euros, exceeding the 6.17 billion euros expected by analysts, according to a Sodexo consensus, while on-site business exceeded 2019 levels, with organic growth coming in at 11.9%.

"On-site Services continues to benefit from the post-Covid recovery, with increased patronage across all geographies in the workplace, stadiums, convention centers and Universities," said Sophie Bellon, President and CEO, adding that price increases also drove growth.

Benefits & Rewards Services, which provides companies with vouchers for their employees, recorded growth of 23.4% during the quarter.

The Group had said in November that it wanted to accelerate growth in its voucher business, as companies look for more ways to retain their employees in the face of tight labor markets and flexible employment, with more and more employees working remotely.

On Friday, the caterer confirmed its forecasts for 2023.

(Reported by Olivier Sorgho, Augustin Turpin, edited by Blandine Hénault)