(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)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.