Sodexo releases Pluxee’s financial statements and announces intended listing date of February 1, 2024

Issy-les-Moulineaux, December 19, 2023
Sodexo (NYSE Euronext Paris FR 0000121220-OTC: SDXAY)

• Pluxee’s full spin-off plan on track for listing on Euronext Paris on February 1, 2024, following a Shareholders Meeting to be held January 30, 2024;
• Pluxee Capital Markets Day to outline its strategy and guidance on January 10, 2024;
• Pluxee’s audited financial statements and new reporting framework released.

Operation schedule  

Sodexo confirms it will put to a shareholder vote the Pluxee spin-off at a dedicated Shareholders Meeting on January 30, 2024, after which Pluxee will be listed on Euronext Paris by February 1, 2024, subject to prospectus approval, Euronext admission decision and market conditions.

Pluxee will host a Capital Markets Day on January 10, 2024, where Chief Executive Officer Aurélien Sonet and the management team will present their strategic plan and provide Fiscal 2024 and medium-term objectives. The prospectus will be made available beforehand after being approved by the Dutch Authority for the Financial Markets (Stichting Autoriteit Financiële Markten) and passported to the French Autorité des Marchés Financiers.

Pluxee’s financial statements and reporting framework   

Sodexo releases today Pluxee’s 3-year audited combined financial statements through a new financial reporting framework including Alternative Performance Measures (APM). Pluxee’s stand-alone profile, with its focused business model, size, and sector, required a new reporting framework, relative to historic reporting within Sodexo, to improve comparability with its main peers.  

Key evolutions of Pluxee’s financial reporting framework are as below:

• Interest income generated on Pluxee’s own cash, i.e. non-related to the Float, is recognized as Financial income versus in Revenue previously;
• Recurring Operating Profit (ROP) replaces Underlying Operating Profit reported by Sodexo and includes amortization of intangible assets acquired through business combinations;
• Recurring Ebitda post-IFRS 16 will be used as a main alternative performance measure to facilitate direct comparison with peers;
• Pluxee’s financial statements have also been adapted to reflect final intercompany borrowing reclassification and other minor standalone adjustments.    

This new framework does not change Pluxee’s Net Profit and Cash Flow.