Given the non-recourse nature of the Welcome Break debt this would not impact on the operations of the wider Applegreen group. Annual Report 2022 E-Book - EN. Other primarily relates to income arising from the operation of hotels and gaming machines in the UK sites. Allergan plc. The company said the scale of the impact of Covid-19 will be dependent on how the situation develops and over what timeframe, together with the impact of any further measures taken by national governments to mitigate the disruption. Investegate takes no responsibility for the accuracy of the information within Queries about the content The terms of the financial plan and lease agreement are yet to be finalised and remain subject to final approval. Interim. "We are highly conscious of the considerable uncertainty created by the current Covid-19 crisis but are confident in the defensiveness of our business model and the strength of our balance sheet and liquidity," the Applegreen CEO said. Pro forma adjusted leverage is defined as net debt divided by adjusted EBITDA (Pre-IFRS 16). These measures are used to monitor performance as management believes that such information is the most relevant in evaluating the results of certain segments relative to other entities that operate within these industries. Applegreen asked Spinach to design and produce their 2018 Annual Report following the acquisition of Welcome Break, an exciting development for the group which saw them become the second largest Motorway Service Area (MSA) operator in the UK. Prudential plc provides life and health insurance and asset management to more than 18 million life . Investegate reserves the However, it said that footfall and volumes have been impacted in the last two weeks as governments and customers take increasing measures to contain the spread of the Covid-19 virus. The board said it. There are typically 2 dividends per year (excluding specials), and the dividend cover is approximately 1.5. An impairment charge of 1.4 million (30 June 2019: 1.1million) was recognised in the Consolidated Income Statement within selling and distribution costs. Assets and liabilities are reviewed by the CODM for the Group in its entirety and as such segment information is not provided for these items. ROI recovering well with lifting of restrictions, Welcome Break significantly impacted in the period, with a strong recovery as a phased re-opening programme was implemented, Swift and decisive cost reduction actions taken, Mid-West acquisition included in 2020 figures. 1. Combined with organic growth from existing sites, our growth strategy is focused on establishing a presence in new markets by developing traditional fuel forecourts with a branded food offer and, when significant scale has been achieved, entering the larger service areas on strategic road networks and enhancing the more resilient non-fuel contribution. Home. The CGUs represent the lowest level at which the associated goodwill is monitored for internal management purposes, and are not larger than the operating segments determined in accordance with IFRS 8, Operating Segments. Applegreen is one of the main Irish fuel distributors. Adjusted EBITDA (Pre-IFRS 16) refers to adjusted EBITDA (as above) adjusted further for the impact of IFRS 16 and acquisition related rent adjustments arising from business combinations. Chief executive Bob Etchingham told The Irish Times that the company believes is has a "good chance" of returning to 2019 levels of business in 2021. Financial highlights: Group revenue increased by 27% on H1 2017 (672.5m) to 854.9m (30% on a constant currency basis) Actual results could differ materially from these estimates. 6. Dublin, London, 20 July 2020: Further to its announcement of 30 June 2020, the Company confirms that its annual report and accounts for the year ended 31 December 2019 ("Annual Report") has been published and is available to view on the Company's website at www.applegreenstores.com. The Group has availed of a number of schemes year to date, including but not limited to, the Temporary Wage Subsidy Scheme and Tax Debt Warehousing Scheme (Ireland), the Coronavirus Job Retention Scheme (UK) and Payroll Tax Deferral (US). The Group considers each individual site as a cash generating unit (CGU) for the purpose of impairment assessment in accordance with IAS 36 'Impairment of assets'. The Interim Financial Information does not constitute statutory financial statements. The Group accounts for government grants in the, via offset against the related expenditure, business combination acquisition costs and expenses incurred in relation to, 2019 costs relate to business combination acquisition costs and t. Goodwill acquired through business combination activity has been allocated to cash generating units (CGUs) that are expected to benefit from the synergies in that combination. 5. Find out more about our investors, dealers, fuel card incentives and our plans for the future. Theyre unwelcome but not unexpected.. Applegreen plc, a major service station retailer with operations in the Republic of Ireland, the United Kingdom and the United States announces its unaudited interim results for the six months ended 30 June 2018. No impairments were identified in 2019. Net loss reflectsMerchandise Margins - Total - % decrease from 145.4 to-23.1%, Depreciation in SGA increase of 20% to EUR23.6M(expense), Depr of Fin Lease R/O Use Assets in SGA increaseof 11% to EUR17.2M (expense). right to publish a filtered set of announcements. The Annual Report and a notice c onvening an Annual General Meeting will be sent to shareholders shortly. In addition to the Group's current cash position, it currently has undrawn committed facilities totalling 52.5m and undrawn overdraft facilities of 12m. Copyright 2023 Surperformance. Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical company and a leader in a new industry model - Growth Pharma. Net debt is adjusted for shareholder loans and IFRS 16. controlling interest, At 01 January 2019 (as previously reported), UNAUDITED Consolidated statement of cash flows, Loss/(gain) on the disposal of property, plant and equipment and intangible assets, Decrease/(increase) in trade and other receivables, Purchase of property, plant and equipment, Proceeds from the sale of property, plant and equipment, Cash injection from non-controlling interest, Net (decrease)/increase in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Notes to the unaudited consolidated financial information, 1. 3. E&B Retail & Distribution. 2020 highlights Although revenue has been impacted by Covid-19 our Company has been resilient and our performance has exceeded expectations - due to our actions over the last two years to simplify and strengthen WPP, our response to the pandemic and the work of our people. Privacy and Cookie PolicyTerms, *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: Wherever you are. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes. Please confirm that you are a private investor using the buttons below. 2020. Download pdf. There will be increased focus on MSA growth in these regions. Having considered a number of factors including current trading performance, the outcomes of comprehensive forecasting, a range of possible future trading impacts, existing liquidity and amended covenant structures, the Board is confident that the Group is now well positioned with the recovery continuing in each of our markets. Net debt position comprises current and non-current borrowings (excluding shareholder loans and IFRS 16 lease liabilities) and cash and cash equivalents. Applegreen plc, B&J Holdings Limited and others agreed to acquire U.S. motorways business of HMSHost Corporation for $380 million. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. Applegreen is an Irish company founded in 1992 that operates 620 petrol stations in Ireland, the UK and the US. Annual Audited Accounts Applegreen plc (the 'Group' or the 'Company'), the roadside convenience retailer today provides an update on its audited accounts for the year ended 31 December 2019. of an announcement should be directed to the source. Current trade and other receivables are non-interest bearing and are generally less than 30 day credit terms. As of mid-2020, the business had grown to over in annual revenue, operating 610 forecourt sites internationally and employing over 15,000 people. (1) Non recurring charges in 2020 include costs that relate to business combination acquisition costs and expenses incurred in relation to COVID-19. "The ultimate impact of the pandemic is unclear at this stage but we are taking definitive steps to follow the relevant guidance from the authorities whilst ensuring we are also taking the right actions to ensure the group remains as resilient as possible to the challenges, and is well positioned for when normal conditions resume," Mr Etchingham said. We seek to protect people's wealth, and help them to grow their assets and save for their goals. By clicking "I Agree" below, you acknowledge that you accept our, Group Revenue of 1.1bn, reflecting a sales reduction of 26.6% from the impact of COVID-19 lockdown restrictions (H1 2019: 1.5bn), Group adjusted EBITDA (pre-IFRS 16) of 25.3m (H1 2019: 58.9m), Adjusted EBITDA excluding Welcome Break (pre-IFRS 16) of 29.4m which represents +11% growth YOY (H1 2019: 26.5m), Targeted investment in the estate with capital expenditure of 24.9m, Group net debt of 550.7m (pre-IFRS 16) (31 Dec 2019: 525.5m) represents leverage of 5.2x. Drury Porter Novelli (Ireland PR Adviser). The Company's segments include Retail Ireland, Retail UK and Retail USA. The Company's Annual General Meeting will be held at 11.00 am on Wednesday, 6 . 3bn 2.0bn 0.9bn 400m 247.8m 1.4bn 2bn 0.1bn 300m 186.2m 1.1bn 1.2bn 113.6m 2.2bn 200m 92.8m 1.9bn 76.9m 36.6m . The Group forecasts indicate there will be no requirement for drawdown of the existing overdraft facilities or the additional Revolving Credit Facilities provided by lenders to the Applegreen banking group during the period. (Loss)/profit from continuing operations attributable to the owners of the Company ('000), Weighted average number of ordinary shares in issue for basic earnings per share ('000). The Group is organised into the following operating segments: Retail Ireland - Involves the sale of fuel, food and store within the Republic of Ireland. Want to talk about Annual Reports? To mark the twenty-first anniversary of the company we worked to create a piece that would reflect and celebrate the journey travelled, but more importantly the journey ahead. Fuel forecourt Applegreen has reported lower revenues and profits for the six months to the end of June as a result of the enforced Covid-19 lockdown in April. 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