Given its size and geographical reach, Sodexo considers itself capable of providing the additional resources required to avoid paying compensation to clients protected by such clauses.
The “Other commitments” line mainly includes the 10-year guarantee given by Sodexo S.A. in December 2021 to the Trustee of the UK pension plan (i.e., until December 2031), for a maximum of 40 million pounds Sterling as of August 31, 2022, in order to cover Sodexo UK’s obligations in connection with the plan.
As of August 31, 2023, Bellon SA held 42.75% of the capital of Sodexo and 57.93% of the exercisable voting rights.
The expense recognized in Fiscal 2023 under an assistance and advisory services contract between Bellon SA and Sodexo S.A. amounts to 4.8 million euros (3.5 million euros in Fiscal 2022).
Sodexo S.A. paid a dividend of 151 million euros during Fiscal 2023.
The Group received dividends of 4 million euros from Bellon SA during Fiscal 2023.
Other transactions with related companies comprise advanced loans, commercial transactions, and off-balance sheet commitments involving associates.
| AUGUST 31, 2023 | AUGUST 31 2022 | |||
|---|---|---|---|---|
| (in million euros) | GROSS AMOUNT | IMPAIRMENT | CARRYING AMOUNT | CARRYING AMOUNT |
| Loans | 53 | — | 53 | 45 |
| OFF-BALANCE SHEET COMMITMENTS | AUGUST 31, 2023 | AUGUST 31 2022 |
|---|---|---|
| Financial guarantees to third parties |
Financial guarantees to third parties AUGUST 31, 2023 80 |
Financial guarantees to third parties AUGUST 31 2022 85 |
| Performance bonds given to clients |
Performance bonds given to clients AUGUST 31, 2023 168 |
Performance bonds given to clients AUGUST 31 2022 137 |
| TRANSACTIONS | FISCAL 2023 | FISCAL 2022 |
|---|---|---|
| Revenues |
Revenues FISCAL 2023 324 |
Revenues FISCAL 2022 284 |
| Operating expenses |
Operating expenses FISCAL 2023 (5) |
Operating expenses FISCAL 2022 (5) |
| Financial income and expense, net |
Financial income and expense, net FISCAL 2023 1 |
Financial income and expense, net FISCAL 2022 1 |
The main companies consolidated as of August 31, 2023, and presented in the table below together represent over 80% of consolidated revenues, operating profit, profit for the period attributable to equity holders of the parent, and shareholders’ equity. The other entities individually represent less than 0.6% of each of these items.
The first column shows the percentage interest held by the Group, and the second column the percentage of voting rights held by the Group. Percentage interests and percentage of voting rights are only shown if less than 97%.
Companies newly consolidated during the year are indicated by the letter “N”.
