12.1 Financial income and expense
| (in million euros) | FISCAL 2024 | FISCAL 2023 |
|---|---|---|
| Gross borrowing cost(1) | Gross borrowing cost (1)FISCAL 2024(137) |
Gross borrowing cost (1)FISCAL 2023(140) |
| Interest income from cash and cash equivalents | Interest income from cash and cash equivalents FISCAL 202467 |
Interest income from cash and cash equivalents FISCAL 202372 |
| NET BORROWING COST | NET BORROWING COST FISCAL 2024(70) |
NET BORROWING COST FISCAL 2023(68) |
| Interests on lease liabilities(2) | Interests on lease liabilities (2)FISCAL 2024(23) |
Interests on lease liabilities (2)FISCAL 2023(19) |
| Net foreign exchange gains/(losses) | Net foreign exchange gains/(losses) FISCAL 2024(1) |
Net foreign exchange gains/(losses) FISCAL 2023(7) |
| Net interest cost on net defined benefit plan obligation | Net interest cost on net defined benefit plan obligation FISCAL 2024(2) |
Net interest cost on net defined benefit plan obligation FISCAL 20232 |
| Interest income from loans and receivables at amortized cost | Interest income from loans and receivables at amortized cost FISCAL 202415 |
Interest income from loans and receivables at amortized cost FISCAL 202311 |
| Other financial income | Other financial income FISCAL 202438 |
Other financial income FISCAL 20237 |
| Other financial expense | Other financial expense FISCAL 2024(20) |
Other financial expense FISCAL 2023(27) |
| NET FINANCIAL EXPENSE | NET FINANCIAL EXPENSEFISCAL 2024(63) | NET FINANCIAL EXPENSEFISCAL 2023(101) |
| Of which Financial income | Of which Financial incomeFISCAL 2024120 | Of which Financial incomeFISCAL 202390 |
| Of which Financial expense | Of which Financial expenseFISCAL 2024(183) | Of which Financial expenseFISCAL 2023(191) |
(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, 2024 | AUGUST 31, 2023 |
|---|---|---|
| Marketable securities(1) | Marketable securities (1)AUGUST 31, 202465 |
Marketable securities (1)AUGUST 31, 202334 |
| Cash(2) | Cash (2)AUGUST 31, 20242,072 |
Cash (2)AUGUST 31, 20231,991 |
| CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTSAUGUST 31, 20242,137 | CASH AND CASH EQUIVALENTSAUGUST 31, 20232,025 |
| Bank overdrafts | Bank overdrafts AUGUST 31, 2024(3) |
Bank overdrafts AUGUST 31, 2023— |
| CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTSAUGUST 31, 20242,134 | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTSAUGUST 31, 20232,025 |
(1) Les valeurs moblières de placement ne comprennent que des dépôts à termes au 31 août 2024 et au 31 août 2023.
(1) Marketable securities only comprise term deposits as of August 31, 2024 and as of August 31, 2023.
(2) Including 15 million euros as of August 31, 2024 (16 million euros as of August 31, 2023) 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.
Cash, cash equivalents and overdraft break down as follows by currency
This graph shows cash, cash equivalents and overdraft breakdown as follows by currency.
- Euro.
- As of August 31, 2024: 1,427 million euros.
- As of August 31, 2023: 1,243 million euros.
- US dollar.
- As of August 31, 2024: 92 million euros.
- As of August 31, 2023: 190 million euros.
- Brazilian real.
- As of August 31, 2024: 65 million euros.
- As of August 31, 2023: 45 million euros.
- Pound sterling.
- As of August 31, 2024: 221 million euros.
- As of August 31, 2023: 201 million euros.
- Other currencies.
- As of August 31, 2024: 329 million euros.
- As of August 31, 2023: 346 million euros.
This currency allocation is presented after clearing the positive and negative positions of the Group's two cash pools with an asset position of 833 million euros and a liability position of less than one million euros as of August 31, 2024.
More than 96% of the Group’s cash and cash equivalents is held with A-1+, A-1 or A-2 rated financial institutions.
No significant amount of cash or cash equivalents was subject to any restrictions as of August 31, 2024.