Furthermore, given the progress of the spin-off project of the Benefits & Rewards Services activity (Pluxee) disclosed in note 1.2, this activity meets the definition of a discontinued operation as of August 31, 2023 as set out by IFRS 5 (separate major line of business, the net assets of which are available for immediate distribution in their present condition, and the distribution of which is highly probable). In accordance with this standard, the net profit and the cash flows of this activity are presented on separated lines relating to discontinued activities in the consolidated income statement and in the consolidated cash flow statement:
The assets and liabilities of the Benefits & Rewards Services activity (Pluxee) have been reclassified as assets held for sale or for distribution and associated liabilities in the Group's consolidated statement of financial position as of August 31, 2023.
The key consolidated income statement items of the Benefits & Rewards Services activity (Pluxee) classified as discontinued operations are the following:
| (in million euros) | FISCAL 2023 | FISCAL 2022 |
|---|---|---|
| Revenue | RevenueFISCAL 20231,099 | RevenueFISCAL 2022865 |
| Cost of sales | Cost of salesFISCAL 2023(334) | Cost of salesFISCAL 2022(281) |
| Gross profit | Gross profitFISCAL 2023765 | Gross profitFISCAL 2022584 |
| Underlying operating profit | Underlying operating profitFISCAL 2023364 | Underlying operating profitFISCAL 2022248 |
| Net other operating income/(expenses) | Net other operating income/(expenses) FISCAL 2023(30) |
Net other operating income/(expenses) FISCAL 2022(3) |
| Operating profit | Operating profitFISCAL 2023334 | Operating profitFISCAL 2022245 |
| Financial income (expense) | Financial income (expense) FISCAL 2023(18) |
Financial income (expense) FISCAL 2022(3) |
| Profit for the year before tax | Profit for the year before taxFISCAL 2023316 | Profit for the year before taxFISCAL 2022242 |
| Income tax expense | Income tax expense FISCAL 2023(80) |
Income tax expense FISCAL 2022(58) |
| Net profit of the year | Net profit of the yearFISCAL 2023236 | Net profit of the yearFISCAL 2022184 |
The key consolidated cash flow statement items of the Benefits & Rewards Services activity (Pluxee) classified as discontinued operations are the following:
| (in million euros) | FISCAL 2023 | FISCAL 2022 |
|---|---|---|
| Operating profit | Operating profitFISCAL 2023334 | Operating profitFISCAL 2022245 |
| Adjustments | Adjustments FISCAL 2023(33) |
Adjustments FISCAL 202221 |
| Operating cashflow | Operating cashflowFISCAL 2023301 | Operating cashflowFISCAL 2022266 |
| Change in vouchers payables | Change in vouchers payables FISCAL 2023114 |
Change in vouchers payables FISCAL 2022178 |
| Change in financial assets related to the Benefits & Rewards Services activity | Change in financial assets related to the Benefits & Rewards Services activity FISCAL 2023(100) |
Change in financial assets related to the Benefits & Rewards Services activity FISCAL 2022(145) |
| Other components of net change in working capital from operating activities | Other components of net change in working capital from operating activities FISCAL 2023153 |
Other components of net change in working capital from operating activities FISCAL 2022(48) |
| Net cash provided by operating activities | Net cash provided by operating activitiesFISCAL 2023468 | Net cash provided by operating activitiesFISCAL 2022251 |
| Net capital expenditure | Net capital expenditure FISCAL 2023(115) |
Net capital expenditure FISCAL 2022(79) |
| Other investing activities | Other investing activities FISCAL 2023(6) |
Other investing activities FISCAL 202262 |
| Net cash used in investing activities | Net cash used in investing activitiesFISCAL 2023(121) | Net cash used in investing activitiesFISCAL 2022(17) |
| Dividends paid | Dividends paid FISCAL 2023(140) |
Dividends paid FISCAL 2022(194) |
| Net proceed of borrowings | Net proceed of borrowings FISCAL 2023(14) |
Net proceed of borrowings FISCAL 2022(5) |
| Other financial activities | Other financial activities FISCAL 2023120 |
Other financial activities FISCAL 2022178 |
| Net cash provided by/(used in) financing activities | Net cash provided by/(used in) financing activitiesFISCAL 2023(34) | Net cash provided by/(used in) financing activitiesFISCAL 2022(21) |
