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Preliminary Results 2024
Agenda
Our business today
FY24 Highlights & FY25 Priorities
Financial Review
Financial Highlights
Underlying Operating Profits of £247m (IFRS 16 basis)
FY24 has delivered in line with planning assumptions
Strong LFL sales growth sustained into FY25
FY sales growth of 17% with 9% like-for-like growth
Underlying operating profit of £206m, up 32%
Group operating margin of 6.0%, up 70bps
Underlying Net Profit of £80m (pre-IFTS 16 basis)
Minority interest charge of £64m, up 28%
Investment and acquisitions drive cash usage of £233m
Business review
Strategic priorities
Last two years: Strengthening foundations, accelerating growth
FY24: Strengthening foundations, accelerating growth
North America: Strong growth with returns discipline
APAC & EEME: Scaling up and driving performance
UK & ROI: Building momentum
Continental Europe: FY24 performance behind expectations
Continental Europe: Five-point recovery plan
Outlook
Delivering returns and driving profitability
2025 planning assumptions
Near-term captial allocation priorities
Building ROCE over the medium-term
Our medium-term financial framework
New remuneration policy aligned to medium-term financial objectives
Summary
Q&A
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