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Preliminary Results 2022
Agenda
H2 and Full Year Highlights
Financial review
Financial highlights
Underlying Operating Profit £30m (pre-IFRS 16 basis)
Underlying Net Loss £36m (pre-IFRS 16 basis)
Reported Operating Profit £91.5m (IFRS 16 basis)
Revenue at 90% of 2019 in H2
Most regions recovering strongly
Strong H2 profit performance despite inflationary headwinds
Free cash generation of £52m
Strong liquidity and balance sheet
Capital allocation strategy unchanged
Strong track record of cash generation fundinginvestment in growth
Business review, strategy and outlook
My first eight months: significant opportunities across SSP
Impressions of SSP
Travel returning to structural growth
Travel F&B sector resilient to consumer spending pressures
Structurally well-placed to manage economic headwinds
Our economic model is working
Priorities
Significant potential for high growth and returns in N. America
Significant potential for high growth and returns in Asia Pac
Net gains pipeline adding c.£550m to annualised sales by 2025
Mix of business shifting to higher growth markets
New business wins in H2
Contract renewals secured during H2
Investing in propositionto drive like-for-like growth
Leveraging digital to improve customer experience and drive efficiency
Leveraging digital to restructure our labourrequirements
Focus on people and culture
Sustainability front-and-centre
Driving profit conversion
Revenue building to £3.2bn -£3.4bn by 2024
EBITDA increasing to £325-375m for 2024
Summary
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