During Fiscal 2024, Sodexo S.A. purchased 643,830 of its own shares for 51 million euros, to be used for restricted share grants.
The Company early redeemed in full on November 10, 2023 its 300 million euros load granted in May 22, 2019, bearing an annual interest rate of 1.125% and initially due to mature in May 2025.
On January 17, 2024, Sodexo S.A. redeemed in full its outstanding 500 million euros loan granted in July 17, 2020, due to mature.
During Fiscal 2024, Sodexo S.A. finalized the spin-off of Pluxee (ex Benefits & Rewards Services activity) initiated in April, 2023. The shares of Pluxee International, owned at 88.05% were tendered by Sodexo S.A to its subsidiary Sodexo Asset Management 2, renamed Pluxee.. These shares were allocated to shareholders of Sodexo S.A. on February 5, 2024 for 615 million euros. Pluxee is listed on the Stock Exchange of Paris, Euronext, since February 1st, 2024.
On August 23, 2024, Sodexo S.A. sold 100% of its shares in its subsidiary Sofinsod for a total of 918 million euros to the family holding Company of the Group, Bellon S.A, to simplify the shareholder structure (see note 7). All proceeds from the sales were distributed in the form of a special interim dividend of €6.24 per share paid on August 29, 2024.
During Fiscal 2024, as part of the exit of its Homecare business, Sodexo S.A. also sold its shares of Prima Nordics. Moreover, Sodexo S.A. proceeded to a capital reduction of its subsidiary Sodexo Participations and Assets for a total of 162 million euros.
The individual Company financial statements have been prepared in accordance with the plan comptable général of 2014 and regulation no. 2014-03 issued by the Autorité des normes comptables (ANC) , as amended by regulation no. 2016-07 dated November 4, 2016.
The accounting policies applied in preparing the individual Company financial statements for Fiscal 2024 are the same as those applied for Fiscal 2023.
In accordance with regulation no. 2015-06 issued by the ANC, merger deficits are included in “Other financial assets” (see note 7, “Non-current assets”).
ANC regulation no. 2015-05 concerning forward financial instruments and hedging transactions has been effective for Sodexo S.A. since September 1, 2017 (see note 2.5 below for further details).
General accounting conventions were applied with respect to the principle of prudence and in accordance with basic assumptions as follows:
The basic method used to value the items recognized in the accounts is the historical cost method. Only significant information is disclosed.
The amounts presented in the tables in these notes are in million euros.
Exceptional items comprise items that do not relate to the Company’s ordinary activities, and certain items that do relate to ordinary activities but are of an exceptional nature.
The balance sheet and income statement of Sodexo S.A. include amounts for branches in metropolitan France and in French overseas departments and territories.
Non-current assets are valued at acquisition cost or historical cost. Acquisition cost comprises the amount paid plus all incidental costs directly related to the acquisition or to the installation of the asset, and incurred to enable the asset to function as intended.
Depreciation is calculated over the useful life of the asset using the straight-line method, which is considered to best reflect the underlying economic reality.
Software is amortized over three to five years and integrated management software packages are amortized over three to seven years, depending on their expected useful lives.
The difference between the accounting and tax amortization of intangible assets is recognized as exceptional amortization.
The straight-line depreciation lives generally used are:
| Buildings | 20 years |
|---|---|
| General fixtures and fittings | 3-10 years |
| Plant and machinery | 4-10 years |
| Motor vehicles | 4 years |
| Office and computer equipment | 3-10 years |
| Other property, plant and equipment | 5-10 years |
