Note 3.2 to the consolidated financial statements
As stated in Note 1.2 “Plan to Spin off the Benefits and Rewards Activity” to the consolidated financial statements, your Board of Directors unanimously approved the plan to spin off and list the Benefits and Rewards activity (renamed Pluxee) via a distribution of shares in this entity to Sodexo’s shareholders.
Pursuant to IFRS 5 “Non-current assets held for sale and discontinued operations” and in the light of the status of the project as at August 31, 2023, the Pluxee activity is classified as a discontinued operation in the consolidated financial statements of the Sodexo Group as at August 31, 2023.
The assets of this activity as well as the related liabilities are presented in the consolidated statement of financial position separately from the Group’s other assets and liabilities as at August 31, 2023: €5,108m in assets appears in “Assets held for sale or distribution” and €4,247m appear in “Liabilities relating to assets held for sale or distribution”.
The net result for the discontinued activities is a profit amounting to €236m for the year ended August 31, 2023.
We deemed the recognition and presentation of the application pursuant to IFRS 5 to be a key audit matter, given:
Our work consisted in:
We have also performed, in accordance with professional standards applicable in France, the specific verifications required by laws and regulations of the information relating to the Group’s information given in the Board of Directors’ management report. We have no matters to report as to its fair presentation and its consistency with the consolidated financial statements.
We attest that the consolidated non-financial statement required by Article L. 225-102-1 of the French Commercial Code (Code de commerce) is included in the information relating to the Group’s information given in the management report, it being specified that, in accordance with Article L. 823-10 of said Code, we have verified neither the fair presentation nor the consistency with the consolidated financial statements of the information contained therein. This information should be reported on by an independent third party.
We have also verified, in accordance with the professional standard applicable in France relating to the procedures performed by statutory auditor regarding the annual and consolidated financial statements prepared in the European single electronic format, that the preparation of the consolidated financial statements intended to be included in the annual financial report mentioned in Article L. 451-1-2, I of the French Monetary and Financial Code (Code monétaire et financier), prepared under the Chairwoman’s responsibility, complies with the single electronic format defined in Commission Delegated Regulation (EU) No. 2019/815 of 17 December 2018. Regarding consolidated financial statements, our work includes verifying that the tagging thereof complies with the format defined in the above-mentioned regulation.
On the basis of our work, we conclude that the presentation of the consolidated financial statements intended to be included in the annual financial report complies, in all material respects, with the European single electronic format.
Due to the technical limitations inherent to the block-tagging of consolidated financial statements in the European single electronic format, it is possible that the contents of certain tags of the notes may not be rendered identically to the accompanying consolidated financial statements.
Furthermore, we have no responsibility to verify that the consolidated financial statements that will ultimately be included by your Company in the annual financial report filed with the AMF (Autorité des marchés financiers) agree with those on which we have performed our work.
