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01 02 03 04 05 06 07 08 09 10 11 12 13 14 160 06 Consolidated information Notes to the Consolidated Financial Statements Sodexo Registration Document Fiscal 2011 % interest % voting rights P ◀ CONTENTS ▶ Principal activity Country Asia, Pacific, Middle east Changchun Faw Industry Sodexo Management EM Services Co. Ltd 50% 50% On-site China Sodexo Amarit (Thaïland Ltd) 49% 49% On-site Thailand Sodexo Support Services (Thailand) Ltd 61% 74% On-site Thailand Sodexo Thailand Ltd Sodexo Project Management Services India 49% 49% On-site Thailand Private Ltd On-site India Sodexo Food Services India Private Ltd On-site India Sodexho FM Services India Private Ltd On-site India Universal Remote Sites Services India Pty Ltd On-site India Sodexo SVC India Private Ltd Motivation India Unisol Infraservices Private Ltd On-site India RKHS Food and Allied Services Private Ltd On-site India Sodexo Food Solutions India Private Ltd On-site India Skyline Caterers Pvt Ltd On-site India Sodexho Pass, Inc. 60% 60% Motivation Philippines Sodexo Services Liban 60% 60% On-site Lebanon Sodexo Laos Pvt Ltd On-site Laos PT Sodexo Motivation Solutions Indonesia Motivation Indonesia N Sodexho Pass Vietnam Motivation Vietnam United Arab Sodexo International FZE On-site Emirates Tariq Alghanim 50% 50% On-site Kuwait Rogozinsky and Ekron Hosting Sces Ltd 50% On-site Israel Chefa Ltd 50% 50% On-site Israel N Mealpass Motivation Solutions Israel Ltd 51% 51% Motivation Israel Sakhalin Support Services 100% 100% On-site Russia Allied Support On-site Russia N Sodexo Russia Far East On-site Russia
P ◀ CONTENTS ▶ Consolidated information 06 Statutory Auditors’ Report on the consolidated financial statements ‡ Statutory Auditors’ Report on the consolidated financial statements For the year ended August 31, 2011 Sodexo S.A. 255, quai de la Bataille de Stalingrad 92866 Issy-les-Moulineaux Cedex 9 To the shareholders, In compliance with the assignment entrusted to us by your General Meeting, we hereby report to you, for the year ended August 31, 2011, on: • the audit of the accompanying consolidated financial statements of Sodexo S.A.; • the justification of our assessments; • the specific verification required by the law. The consolidated financial statements have been approved by the Board of Directors. Our role is to express an opinion on these consolidated financial statements based on our audit. I - Opinion on the consolidated financial statements We conducted our audit in accordance with professional standards applicable in France; those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An audit involves performing procedures, using sampling techniques or other methods of selection, to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made, as well as the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. In our opinion, the consolidated financial statements give a true and fair view of the assets and liabilities, of the financial position of the Group as at August 31, 2011 and of the results of its operations for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union. Sodexo Registration Document Fiscal 2011 161 01 02 03 04 05 06 07 08 09 10 11 12 13 14
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Fiscal 2011 Registration Document
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Registration Document Fiscal 2011 T
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P ◀ CONTENTS ▶ Message from Mic
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P ◀ CONTENTS ▶ History 01 01 Ou
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P ◀ CONTENTS ▶ The Fundamental
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P ◀ CONTENTS ▶ OUR MISSION Our
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P ◀ CONTENTS ▶ ‡ Our ambition
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P ◀ CONTENTS ▶ Titre Our Group
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P ◀ CONTENTS ▶ SODEXO HAS THREE
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P ◀ CONTENTS ▶ OUR AWARDS Sodex
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P ◀ CONTENTS ▶ 2. EMPLOYEES AND
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P ◀ CONTENTS ▶ DIVIDENDS PAID O
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P ◀ CONTENTS ▶ Titre Quality 1
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P ◀ CONTENTS ▶ Quality of Life
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P ◀ CONTENTS ▶ diverse data sou
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P ◀ CONTENTS ▶ commitments unde
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P ◀ CONTENTS ▶ The high economi
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P ◀ CONTENTS ▶ Democratic Repub
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P ◀ CONTENTS ▶ 5.3 Achievements
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P ◀ CONTENTS ▶ 6.2 Market trend
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P ◀ CONTENTS ▶ 8. EDUCATION 21.
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P ◀ CONTENTS ▶ Liceo Franco Arg
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P ◀ CONTENTS ▶ Quality of Life
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P ◀ CONTENTS ▶ themselves, enha
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P ◀ CONTENTS ▶ 4. PUBLIC BENEFI
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P ◀ CONTENTS ▶ Development of n
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P ◀ CONTENTS ▶ Economic and Soc
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P ◀ CONTENTS ▶ On the strength
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P ◀ CONTENTS ▶ The proportion o
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P ◀ CONTENTS ▶ Non-site manager
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P ◀ CONTENTS ▶ 2.2.8 Social and
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P ◀ CONTENTS ▶ 3. EMPLOYMENT IN
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P ◀ CONTENTS ▶ The Better Tomor
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P ◀ CONTENTS ▶ 2. WE DO The Bet
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P ◀ CONTENTS ▶ 2.2 Supporting L
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P ◀ CONTENTS ▶ chemical sourcin
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P ◀ CONTENTS ▶ EXAMPLES OF A BE
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P ◀ CONTENTS ▶ Titre Consolidat
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P ◀ CONTENTS ▶ 1.2 Operating pr
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P ◀ CONTENTS ▶ 2. FISCAL 2011 F
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P ◀ CONTENTS ▶ 2.2.2 Currency e
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P ◀ CONTENTS ▶ Partnership to b
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P ◀ CONTENTS ▶ 2.2.4 Motivation
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P ◀ CONTENTS ▶ Net cash used in
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P ◀ CONTENTS ▶ In the medium te
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P ◀ CONTENTS ▶ Consolidated inf
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P ◀ CONTENTS ▶ LIABILITIES AND
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P ◀ CONTENTS ▶ Companies in whi
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P ◀ CONTENTS ▶ of the date of a
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P ◀ CONTENTS ▶ ownership by the
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P ◀ CONTENTS ▶ tested for impai
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P ◀ CONTENTS ▶ If benefits unde
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P ◀ CONTENTS ▶ 2.22.3 Income ta
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Page 113 and 114: P ◀ CONTENTS ▶ 4.2 Finance inco
Page 115 and 116: P ◀ CONTENTS ▶ 4.5 Property, pl
Page 117 and 118: P ◀ CONTENTS ▶ (in millions of
Page 119 and 120: P ◀ CONTENTS ▶ 4.8 Client inves
Page 121 and 122: P ◀ CONTENTS ▶ The table below
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Page 125 and 126: P ◀ CONTENTS ▶ 4.11.4 details o
Page 127 and 128: P ◀ CONTENTS ▶ Consolidated inf
Page 129 and 130: P ◀ CONTENTS ▶ For borrowings o
Page 131 and 132: P ◀ CONTENTS ▶ 2011. These two
Page 133 and 134: P ◀ CONTENTS ▶ Currency derivat
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Page 141 and 142: P ◀ CONTENTS ▶ 4.21 Deferred ta
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Page 145 and 146: P ◀ CONTENTS ▶ The expected lif
Page 149 and 150: P ◀ CONTENTS ▶ 4.26.2 Principal
Page 151 and 152: P ◀ CONTENTS ▶ 5.1.1 Analysis o
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Page 155 and 156: P ◀ CONTENTS ▶ France Consolida
Page 157 and 158: P ◀ CONTENTS ▶ Africa Consolida
Page 159 and 160: P ◀ CONTENTS ▶ europe Consolida
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Page 165 and 166: P ◀ CONTENTS ▶ ‡ Supplemental
Page 167 and 168: P ◀ CONTENTS ▶ ISo Code Countri
Page 169 and 170: P ◀ CONTENTS ▶ Growth in the Mo
Page 171 and 172: P ◀ CONTENTS ▶ At the same time
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Page 175 and 176: P ◀ CONTENTS ▶ 2. BALANCE SHEET
Page 177 and 178: P ◀ CONTENTS ▶ 2.1.2 Property,
Page 179 and 180: P ◀ CONTENTS ▶ 5. EXCEPTIONAL I
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Page 183 and 184: P ◀ CONTENTS ▶ 13.2 Changes in
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Page 187 and 188: P ◀ CONTENTS ▶ 18. RELATED PART
Page 191 and 192: P ◀ CONTENTS ▶ 26. CONSOLIDATIO
Page 193 and 194: P ◀ CONTENTS ▶ (in thousands of
Page 195 and 196: P ◀ CONTENTS ▶ III - Specific v
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Page 201 and 202: P ◀ CONTENTS ▶ Titre Legal 1Inf
Page 203 and 204: P ◀ CONTENTS ▶ 1.6 Registration
Page 205 and 206: P ◀ CONTENTS ▶ Legal Informatio
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P ◀ CONTENTS ▶ 2.3 Publication
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P ◀ CONTENTS ▶ 8. BENEFITS OF B
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P ◀ CONTENTS ▶ ADJUSTED SODEXO
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P ◀ CONTENTS ▶ ‡ Capital 1. S
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P ◀ CONTENTS ▶ 3. STOCK MARKET
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P ◀ CONTENTS ▶ Titre Corporate
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P ◀ CONTENTS ▶ 1.1 Composition
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P ◀ CONTENTS ▶ • Board Member
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P ◀ CONTENTS ▶ Other positions
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P ◀ CONTENTS ▶ Peter Thompson B
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P ◀ CONTENTS ▶ 2.3 Mission of t
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P ◀ CONTENTS ▶ The Audit Commit
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P ◀ CONTENTS ▶ Board has begun
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P ◀ CONTENTS ▶ 3.2 Group Polici
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P ◀ CONTENTS ▶ 3.2.5 Informatio
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P ◀ CONTENTS ▶ Executive Commit
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P ◀ CONTENTS ▶ 3.8.1 The risk i
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P ◀ CONTENTS ▶ Corporate Govern
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P ◀ CONTENTS ▶ Corporate Govern
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P ◀ CONTENTS ▶ ‡ Compensation
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P ◀ CONTENTS ▶ SUMMARY OF COMPE
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P ◀ CONTENTS ▶ 2. COMPENSATION
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P ◀ CONTENTS ▶ Total compensati
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P ◀ CONTENTS ▶ expiration date
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P ◀ CONTENTS ▶ exercise price (
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P ◀ CONTENTS ▶ Name date of Boa
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P ◀ CONTENTS ▶ ‡ Audit fees (
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P ◀ CONTENTS ▶ Combined Annual
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P ◀ CONTENTS ▶ It is therefore
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P ◀ CONTENTS ▶ trading sessions
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P ◀ CONTENTS ▶ Combined annual
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P ◀ CONTENTS ▶ Titre Glossary 1
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P ◀ CONTENTS ▶ Intensity risk R
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P ◀ CONTENTS ▶ P ◀ CONTENTS
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P ◀ CONTENTS ▶ Responsibility f
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P ◀ CONTENTS ▶ Titre Reconcilia
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P ◀ CONTENTS ▶ Reconciliation t
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PEFC/10-31-1190 FCBA/08-00860A Publ
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