Preliminary Results 2023 - Patrick Coveney - Group CEO

Agenda

Moving to sustainable growth and returns

Financial review - Jonathan Davies - Group Deputy CEO and CFO

Financial highlights

Underlying Operating Profit £205m (IFRS 16 basis)

Underlying performance ahead of ‘planning scenarios’ set out last year

H2 Group revenue at 110% of 2019 levels

H2 Revenue performance driven by volume recovery in A

H2 sales growth at 25% YoY

FY YoY EBITDA growth driven by N. America and APAC & EEME

Operating costs tightly managed despite ongoing inflation

Underlying Net Profit £56m (pre-IFRS 16 basis)

Increased minority interest charge reflecting strong profit growth in N. America & India where we operate with JV partners

Cash usage £125m, with leverage reducing to 1.4x

Future pipeline ofsecured net gains of c.£450m of annualised salesby 2027

We have some near term COVID catch up investment; our long term investmentand returns model remains unchanged

2024 Planning Assumptions – strong expected performance

Clear capital allocation strategy

Business review - Patrick Coveney - Group CEO

Delivering on our strategic priorities

Accelerating growth: North America and APAC and EEME

India – a significant opportunity for further growth and returns

Steady growth and performance: UK & ROI and C.Europe

Steady growth and performance: UK & ROI and C.Europe

Delivering operational efficiencies - while driving customer experience and like-for-like growth

Building a sustainable business

A significant level of business development

From 2025, we enter a new phase of sustainable growth and returns

Summary

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