PARIS: French catering giant Sodexo said Wednesday it expected the coronavirus pandemic to hit its annual revenues by two billion euros (USD 2.2 billion).
"Currently, early estimates, given the many moving parts, could be for an impact of around two billion euros on annual revenues," it said in a statement.
Revenues in its last financial year came to 22 billion euros.
Its first-half figures included a "mild shortfall" in revenues from China and Italy because of the COVID-19 virus that it had been able to absorb, the company added.
"At this stage, it is too early to determine the impact that these combined factors may have on the Group's second-half results," it said.
"Based on the last few weeks' observations in China, Italy, France and the USA we can see that for each 100 million euros of revenue decline the impact on underlying operating profit is around (negative) 30 percent depending on the country and the segment."
The company said that while it remained confident in its market and financial position, it nevertheless had to suspend guidance "until the situation stabilizes".