Fiscal 2022 Universal Registration Document

4.3.4 Investment policy

4.3 Supplemental information and condensed Group organization chart

4.3.4 Investment policy
4.3.4 Investment policy
(in million euros) FISCAL 2022 FISCAL 2021
Acquisitions of property, plant, equipment, intangible assets, and client investments

Acquisitions of property, plant, equipment, intangible assets, and client investments

FISCAL 2022

341

Acquisitions of property, plant, equipment, intangible assets, and client investments

FISCAL 2021

211

Acquisitions of equity interests

Acquisitions of equity interests

FISCAL 2022

133

Acquisitions of equity interests

FISCAL 2021

84

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As of the date of this document Sodexo has not made any significant firm commitment to acquire equity interests.

Because of the nature of the Group’s activities, net investments represent less than 2% of revenues and mainly relate to investments on the Group’s sites, which are used to support operating activities and are financed by operating cash. None of these investments is individually significant in Fiscal 2022.

The main acquisitions made during Fiscal 2022 are indicated in notes 3.1 “Business combinations” and 6.1 “Goodwill” to the consolidated financial statements.

A detailed description of changes in investments is provided in notes 4.4, 6.2 and 6.3 to the consolidated financial statements.