(1) The Group does not believe the accounting treatment introduced by IFRS 16 modifies the operating nature of its lease transactions. Accordingly, to ensure the Group's performance measures continue to best reflect its operating performance, the Group considers repayments of lease liabilities as operating items impacting the Free cash flow, which integrates all lease payments (fixed or variable). Consistently, the lease liabilities are not included in Net debt.

(2) Average capital employed between the beginning and the end of the period.

(3) Reinstatement of the capital employed of the entity Denali Universal, LLC in United States which gave rise to classification in assets held for sale and related liabilities as of August 31, 2024, and Homecare Services as of August 31, 2023.

(4) Below the underlying effective tax rate calculation:

 
                             FISCAL 2024                  FISCAL 2023 
                        PROFIT 
                      BEFORE TAX                  PROFIT BEFORE 
                      EXCLUDING                   TAX EXCLUDING 
                       SHARE OF                     SHARE OF 
                      PROFIT OF                     PROFIT OF 
                      COMPANIES                     COMPANIES 
                      ACCOUNTED                   ACCOUNTED FOR 
                      FOR USING                     USING THE 
                      THE EQUITY   INCOME            EQUITY      INCOME 
(in million euros)      METHOD       TAX   RATE      METHOD        TAX   RATE 
                                   ------  -----                 ------  ----- 
EFFECTIVE                     983   (249)  25.4%            737   (181)  24.6% 
-------------------  ------------  ------  -----  -------------  ------  ----- 
Adjustments: 
-------------------  ------------  ------  -----  -------------  ------  ----- 
Restructuring costs            69    (18)                    47    (12) 
-------------------  ------------  ------  -----  -------------  ------  ----- 
Impairment losses 
 and amortization 
 of intangible 
 assets relating to 
 client 
 relationships and 
 trademarks                    35     (9)                    36     (9) 
-------------------  ------------  ------  -----  -------------  ------  ----- 
Recognition of 
 deferred taxes                --    (71)                    --     (7) 
-------------------  ------------  ------  -----  -------------  ------  ----- 
Others                       (45)      77                    60    (17) 
-------------------  ------------  ------  -----  -------------  ------  ----- 
UNDERLYING                  1,041   (270)  26.0%            880   (226)  25.7% 
-------------------  ------------  ------  -----  -------------  ------  ----- 
 

Attachment

   -- PR Sodexo Fiscal 2024 Results EN 

(END) Dow Jones Newswires

October 24, 2024 01:00 ET (05:00 GMT)