| (in million euros) | FISCAL PUBLISHED 2023 | PLUXEE DECONSOLIDATION | FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS | COSTS RELATED TO THE TRANSACTION | PRO FORMA BEFORE CTA RECYCLING | CTA RECYCLING | PRO FORMA FISCAL 2023 |
|---|---|---|---|---|---|---|---|
| Notes | Notes FISCAL PUBLISHED 2023
|
Notes PLUXEE DECONSOLIDATION Note 1 |
Notes FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS Note 2 |
Notes COSTS RELATED TO THE TRANSACTION Note 3 |
NotesPRO FORMA BEFORE CTA RECYCLING
|
Notes CTA RECYCLING Note 4 |
Notes PRO FORMA FISCAL 2023
|
| Revenue | Revenue FISCAL PUBLISHED 2023 22,637 |
Revenue PLUXEE DECONSOLIDATION
|
Revenue FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Revenue COSTS RELATED TO THE TRANSACTION
|
Revenue PRO FORMA BEFORE CTA RECYCLING22,637 |
Revenue CTA RECYCLING
|
Revenue PRO FORMA FISCAL 2023 22,637 |
| Cost of sales | Cost of sales FISCAL PUBLISHED 2023 (19,917) |
Cost of sales PLUXEE DECONSOLIDATION
|
Cost of sales FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Cost of sales COSTS RELATED TO THE TRANSACTION
|
Cost of sales PRO FORMA BEFORE CTA RECYCLING(19,917) |
Cost of sales CTA RECYCLING
|
Cost of sales PRO FORMA FISCAL 2023 (19,917) |
| Gross Profit | Gross Profit FISCAL PUBLISHED 2023 2,720 |
Gross Profit PLUXEE DECONSOLIDATION 0 |
Gross Profit FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 0 |
Gross Profit COSTS RELATED TO THE TRANSACTION 0 |
Gross Profit PRO FORMA BEFORE CTA RECYCLING2,720 |
Gross Profit CTA RECYCLING 0 |
Gross Profit PRO FORMA FISCAL 2023 2,720 |
| Selling, General and Administrative costs | Selling, General and Administrative costs FISCAL PUBLISHED 2023 (1,753) |
Selling, General and Administrative costs PLUXEE DECONSOLIDATION 0 |
Selling, General and Administrative costs FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Selling, General and Administrative costs COSTS RELATED TO THE TRANSACTION 0 |
Selling, General and Administrative costsPRO FORMA BEFORE CTA RECYCLING (1,753) |
Selling, General and Administrative costs CTA RECYCLING 0 |
Selling, General and Administrative costs PRO FORMA FISCAL 2023 (1,753) |
| Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business | Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business FISCAL PUBLISHED 2023 9 |
Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business PLUXEE DECONSOLIDATION
|
Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business COSTS RELATED TO THE TRANSACTION
|
Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business PRO FORMA BEFORE CTA RECYCLING9 |
Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business CTA RECYCLING
|
Share of profit of companies accounted for using the equity method that directly contribute to the Group’s business PRO FORMA FISCAL 2023 9 |
| Underlying operating profit | Underlying operating profit FISCAL PUBLISHED 2023 976 |
Underlying operating profit PLUXEE DECONSOLIDATION 0 |
Underlying operating profit FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 0 |
Underlying operating profit COSTS RELATED TO THE TRANSACTION 0 |
Underlying operating profit PRO FORMA BEFORE CTA RECYCLING976 |
Underlying operating profit CTA RECYCLING 0 |
Underlying operating profit PRO FORMA FISCAL 2023 976 |
| Other operating income | Other operating income FISCAL PUBLISHED 2023 4 |
Other operating income PLUXEE DECONSOLIDATION
|
Other operating income FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Other operating income COSTS RELATED TO THE TRANSACTION
|
Other operating income PRO FORMA BEFORE CTA RECYCLING4 |
Other operating income CTA RECYCLING
|
Other operating income PRO FORMA FISCAL 2023 4 |
| Other operating expenses | Other operating expenses FISCAL PUBLISHED 2023 (133) |
Other operating expenses PLUXEE DECONSOLIDATION
|
Other operating expenses FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Other operating expenses COSTS RELATED TO THE TRANSACTION (8) |
Other operating expenses PRO FORMA BEFORE CTA RECYCLING(141) |
Other operating expenses CTA RECYCLING
|
Other operating expenses PRO FORMA FISCAL 2023 (141) |
| Operating profit | Operating profit FISCAL PUBLISHED 2023 847 |
Operating profit PLUXEE DECONSOLIDATION 0 |
Operating profit FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 0 |
Operating profit COSTS RELATED TO THE TRANSACTION (8) |
Operating profit PRO FORMA BEFORE CTA RECYCLING839 |
Operating profit CTA RECYCLING
|
Operating profit PRO FORMA FISCAL 2023 839 |
| Financial income | Financial income FISCAL PUBLISHED 2023 90 |
Financial income PLUXEE DECONSOLIDATION
|
Financial income FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 17 |
Financial income COSTS RELATED TO THE TRANSACTION
|
Financial income PRO FORMA BEFORE CTA RECYCLING107 |
Financial income CTA RECYCLING
|
Financial income PRO FORMA FISCAL 2023 107 |
| Financial expenses | Financial expenses FISCAL PUBLISHED 2023 (191) |
Financial expenses PLUXEE DECONSOLIDATION
|
Financial expenses FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Financial expenses COSTS RELATED TO THE TRANSACTION
|
Financial expenses PRO FORMA BEFORE CTA RECYCLING(191) |
Financial expenses CTA RECYCLING
|
Financial expenses PRO FORMA FISCAL 2023 (191) |
| Share of profit of other companies accounted for using the equity method | Share of profit of other companies accounted for using the equity method FISCAL PUBLISHED 2023 3 |
Share of profit of other companies accounted for using the equity method PLUXEE DECONSOLIDATION
|
Share of profit of other companies accounted for using the equity method FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Share of profit of other companies accounted for using the equity method COSTS RELATED TO THE TRANSACTION
|
Share of profit of other companies accounted for using the equity method PRO FORMA BEFORE CTA RECYCLING3 |
Share of profit of other companies accounted for using the equity method CTA RECYCLING
|
Share of profit of other companies accounted for using the equity method PRO FORMA FISCAL 2023 3 |
| Profit for the year before tax | Profit for the year before tax FISCAL PUBLISHED 2023 749 |
Profit for the year before tax PLUXEE DECONSOLIDATION 0 |
Profit for the year before tax FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 17 |
Profit for the year before tax COSTS RELATED TO THE TRANSACTION (8) |
Profit for the year before tax PRO FORMA BEFORE CTA RECYCLING758 |
Profit for the year before tax CTA RECYCLING
|
Profit for the year before tax PRO FORMA FISCAL 2023 758 |
| Income tax expense | Income tax expense FISCAL PUBLISHED 2023 (181) |
Income tax expense PLUXEE DECONSOLIDATION
|
Income tax expense FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Income tax expense COSTS RELATED TO THE TRANSACTION
|
Income tax expense PRO FORMA BEFORE CTA RECYCLING(181) |
Income tax expense CTA RECYCLING
|
Income tax expense PRO FORMA FISCAL 2023 (181) |
| Net profit of the year from continuing operations | Net profit of the year from continuing operations FISCAL PUBLISHED 2023 568 |
Net profit of the year from continuing operations PLUXEE DECONSOLIDATION 0 |
Net profit of the year from continuing operations FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 17 |
Net profit of the year from continuing operations COSTS RELATED TO THE TRANSACTION (8) |
Net profit of the year from continuing operationsPRO FORMA BEFORE CTA RECYCLING577 | Net profit of the year from continuing operations CTA RECYCLING
|
Net profit of the year from continuing operations PRO FORMA FISCAL 2023 577 |
| Net profit of the year from discontinued operations | Net profit of the year from discontinued operations FISCAL PUBLISHED 2023 236 |
Net profit of the year from discontinued operations PLUXEE DECONSOLIDATION (236) |
Net profit of the year from discontinued operations FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 0 |
Net profit of the year from discontinued operations COSTS RELATED TO THE TRANSACTION 0 |
Net profit of the year from discontinued operationsPRO FORMA BEFORE CTA RECYCLING0 | Net profit of the year from discontinued operations CTA RECYCLING (525) |
Net profit of the year from discontinued operations PRO FORMA FISCAL 2023 (525) |
| Net profit of the year | Net profit of the year FISCAL PUBLISHED 2023 804 |
Net profit of the year PLUXEE DECONSOLIDATION (236) |
Net profit of the year FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 17 |
Net profit of the year COSTS RELATED TO THE TRANSACTION (8) |
Net profit of the yearPRO FORMA BEFORE CTA RECYCLING577 | Net profit of the year CTA RECYCLING (525) |
Net profit of the year PRO FORMA FISCAL 2023 52 |
| of which | of which FISCAL PUBLISHED 2023
|
of which PLUXEE DECONSOLIDATION
|
of which FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
of which COSTS RELATED TO THE TRANSACTION
|
of which PRO FORMA BEFORE CTA RECYCLING
|
of which CTA RECYCLING
|
of which PRO FORMA FISCAL 2023
|
| Profit attributable to non-controlling interests | Profit attributable to non-controlling interests FISCAL PUBLISHED 2023 10 |
Profit attributable to non-controlling interests PLUXEE DECONSOLIDATION (2) |
Profit attributable to non-controlling interests FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Profit attributable to non-controlling interests COSTS RELATED TO THE TRANSACTION 0 |
Profit attributable to non-controlling interests PRO FORMA BEFORE CTA RECYCLING8 |
Profit attributable to non-controlling interests CTA RECYCLING 0 |
Profit attributable to non-controlling interests PRO FORMA FISCAL 2023 8 |
|
Net profit of the year from continuing operations – Attributable to non-controlling interests |
Net profit of the year from continuing operations – Attributable to non-controlling interests FISCAL PUBLISHED 2023 8 |
Net profit of the year from continuing operations – Attributable to non-controlling interests PLUXEE DECONSOLIDATION
|
Net profit of the year from continuing operations – Attributable to non-controlling interests FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Net profit of the year from continuing operations – Attributable to non-controlling interests COSTS RELATED TO THE TRANSACTION
|
Net profit of the year from continuing operations – Attributable to non-controlling interests PRO FORMA BEFORE CTA RECYCLING8 |
Net profit of the year from continuing operations – Attributable to non-controlling interests CTA RECYCLING
|
Net profit of the year from continuing operations – Attributable to non-controlling interests PRO FORMA FISCAL 2023 8 |
|
Net profit of the year from discontinued operations – Attributable to non-controlling interests |
Net profit of the year from discontinued operations – Attributable to non-controlling interests FISCAL PUBLISHED 2023 2 |
Net profit of the year from discontinued operations – Attributable to non-controlling interests PLUXEE DECONSOLIDATION (2) |
Net profit of the year from discontinued operations – Attributable to non-controlling interests FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Net profit of the year from discontinued operations – Attributable to non-controlling interests COSTS RELATED TO THE TRANSACTION 0 |
Net profit of the year from discontinued operations – Attributable to non-controlling interests PRO FORMA BEFORE CTA RECYCLING0 |
Net profit of the year from discontinued operations – Attributable to non-controlling interests CTA RECYCLING 0 |
Net profit of the year from discontinued operations – Attributable to non-controlling interests PRO FORMA FISCAL 2023 0 |
| PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT | PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT FISCAL PUBLISHED 2023 794 |
PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT PLUXEE DECONSOLIDATION (234) |
PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 17 |
PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT COSTS RELATED TO THE TRANSACTION (8) |
PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENTPRO FORMA BEFORE CTA RECYCLING569 | PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT CTA RECYCLING (525) |
PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT PRO FORMA FISCAL 2023 44 |
|
Net profit of the year from continuing operations – Attributable to equity holders of the parent |
Net profit of the year from continuing operations – Attributable to equity holders of the parent FISCAL PUBLISHED 2023 560 |
Net profit of the year from continuing operations – Attributable to equity holders of the parent PLUXEE DECONSOLIDATION
|
Net profit of the year from continuing operations – Attributable to equity holders of the parent FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS 17 |
Net profit of the year from continuing operations – Attributable to equity holders of the parent COSTS RELATED TO THE TRANSACTION (8) |
Net profit of the year from continuing operations – Attributable to equity holders of the parent PRO FORMA BEFORE CTA RECYCLING569 |
Net profit of the year from continuing operations – Attributable to equity holders of the parent CTA RECYCLING
|
Net profit of the year from continuing operations – Attributable to equity holders of the parent PRO FORMA FISCAL 2023 569 |
|
Net profit of the year from discontinued operations – Attributable to equity holders of the parent |
Net profit of the year from discontinued operations – Attributable to equity holders of the parent FISCAL PUBLISHED 2023 234 |
Net profit of the year from discontinued operations – Attributable to equity holders of the parent PLUXEE DECONSOLIDATION (234) |
Net profit of the year from discontinued operations – Attributable to equity holders of the parent FINANCIAL INCOME FROM REPAYMENT OF INTERNAL TRANSACTIONS
|
Net profit of the year from discontinued operations – Attributable to equity holders of the parent COSTS RELATED TO THE TRANSACTION 0 |
Net profit of the year from discontinued operations – Attributable to equity holders of the parent PRO FORMA BEFORE CTA RECYCLING0 |
Net profit of the year from discontinued operations – Attributable to equity holders of the parent CTA RECYCLING (525) |
Net profit of the year from discontinued operations – Attributable to equity holders of the parent PRO FORMA FISCAL 2023 (525) |
This Pro Forma adjustment corresponds to the cancellation of Pluxee's contribution to the published consolidated net income. As a reminder, for Fiscal 2023, Pluxee's contribution to the consolidated net income amounted to 236 million euros (and 234 million euros for the Group's share) and was presented as "discontinued operations".
Taking into account the unwinding of reciprocal transactions in the balance sheet (see 4.5.4 note 3) and the Pro Forma cash flow increase (+645 million euros), financial income was calculated at 17 million euros and reintegrated into the Pro Forma financial result.
These financial products were calculated by applying the average interest rate on term deposits from which Sodexo benefited in Fiscal 2023, i.e. 2.57%, to the additional cash amount of 645 million euros considered in the Pro Forma balance sheet (see 4.5.4 note 3.).
For Fiscal 2024 (from September 1, 2023 to August 31, 2024), the costs of the Transaction incurred by the Group to enable the Pluxee spin-off project are estimated at 8 million euros.
In the Pro Forma income statement, they are added to other operating expenses recognized in Fiscal 2023 (which, as a reminder, amounted to 133 million euros, of which 12 millions euros related to the Transaction).
These costs are non-recurring and meet the definition of "other operating income and expenses" in the Group's consolidated accounts.
In the Pro Forma income statement, other operating expenses thus amount to 141 millions euros.
This adjustment corresponds to the recycling of the currency translation adjustment reserves related to Pluxee, mainly from the Brazilian Real and Venezuelan Bolivar, amounting to 525 million euros as of August 31, 2023. This non-cash loss is purely technical, and will not have any impact on Sodexo’s equity, cashflow or dividend distribution capacity.
