12.1 Financial income and expense
| (in million euros) | FISCAL 2023 | FISCAL 2022 IFRS 5 restated |
|---|---|---|
| Gross borrowing cost(1) | Gross borrowing cost (1)FI SCAL 2023 (140) |
Gross borrowing cost (1)FISCAL 2022IFRS 5 restated (92) |
| Interest income from cash and cash equivalents | Interest income from cash and cash equivalents FI SCAL 2023 72 |
Interest income from cash and cash equivalents FISCAL 2022IFRS 5 restated 15 |
| NET BORROWING COST | NET BORROWING COST FI SCAL 2023 (68) |
NET BORROWING COST FISCAL 2022IFRS 5 restated (77) |
| Interests on lease liabilities(2) | Interests on lease liabilities (2)FI SCAL 2023 (19) |
Interests on lease liabilities (2) FISCAL 2022IFRS 5 restated (16) |
| Net foreign exchange gains/(losses) | Net foreign exchange gains/(losses) FI SCAL 2023 (7) |
Net foreign exchange gains/(losses) FISCAL 2022IFRS 5 restated 2 |
| Net interest cost on net defined benefit plan obligation | Net interest cost on net defined benefit plan obligation FI SCAL 2023 2 |
Net interest cost on net defined benefit plan obligation FISCAL 2022IFRS 5 restated (2) |
| Interest income from loans and receivables at amortized cost | Interest income from loans and receivables at amortized cost FI SCAL 2023 11 |
Interest income from loans and receivables at amortized cost FISCAL 2022IFRS 5 restated 5 |
| Other financial income | Other financial income FI SCAL 2023 7 |
Other financial income FISCAL 2022IFRS 5 restated 14 |
| Other financial expense | Other financial expense FI SCAL 2023 (27) |
Other financial expense FISCAL 2022IFRS 5 restated (13) |
| NET FINANCIAL EXPENSE | NET FINANCIAL EXPENSE FI SCAL 2023 (101) |
NET FINANCIAL EXPENSEFISCAL 2022 IFRS 5 restated (87) |
| Of which Financial income | Of which Financial income FI SCAL 2023 90 |
Of which Financial incomeFISCAL 2022 IFRS 5 restated 36 |
| Of which Financial expense | Of which Financial expense FI SCAL 2023 (191) |
Of which Financial expenseFISCAL 2022 IFRS 5 restated (123) |
(1) Gross borrowing cost represents interest expense on financial liabilities at amortized cost and interest expense on hedging instruments.
(2) Interests on lease liabilities recognized in accordance with IFRS 16.
12.2 Cash and cash equivalents
| (in million euros) | AUGUST 31, 2023 | AUGUST 31, 2022 |
|---|---|---|
| Marketable securities | Marketable securities AUGUST 31, 202334 |
Marketable securities AUGUST 31, 2022524 |
| Cash* | Cash* AUGUST 31, 20231,991 |
Cash* AUGUST 31, 20222,701 |
| CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTSAUGUST 31, 20232,025 | CASH AND CASH EQUIVALENTSAUGUST 31, 20223,225 |
| Bank overdrafts | Bank overdrafts AUGUST 31, 2023— |
Bank overdrafts AUGUST 31, 2022(8) |
| CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTSAUGUST 31, 20232,025 | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTSAUGUST 31, 20223,217 |
*Including 16 million euros allocated to the liquidity contract signed with an investment services provider, which complies with the Code of conduct drawn up by the French financial markets association (Association française des marchés financiers – AMAFI) and approved by the French securities regulator (Autorité des marchés financiers – AMF) , for the purpose of improving the liquidity of Sodexo shares and the regularity of the quotations.
Marketable securities comprise:
First diagram shows the marketable securities as of August 31, 2023.
Term deposits:
- €34m
- 100%
Second diagram shows the marketable securities as of August 31, 2022.
Term deposits:
- €123m
- 23%
Short-term notes:
- €380m
- 73%
Mutual funds and other:
- €21m
- 4%