applegreen plc annual report 2020

In such a circumstance the Board would need to take further mitigating actions and/or re-negotiate with lenders to avoid potentially triggering a repayment of outstanding debt. Why the Choice of Carbon Metrics Matters. 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. Applegreen is an Irish company founded in 1992 that operates 620 petrol stations in Ireland, the UK and the US. Limited edition Game of Thrones - inspired Single Malt Whisky collection has arrived. Trading on margin increases the financial risks. Through sixteen handcrafted paper cut-out illustrations, illuminated and photographed, we visualised the concept of tangible growth. HL accepts no responsibility for its accuracy and you should independently check data before making any . 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. By clicking "I Agree" below, you acknowledge that you accept our, 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. . Applegreen plc operates motorway service areas, trunk road service areas, and petrol filling stations. Holy Cross, Waterford. Pro forma adjusted leverage is defined as net debt divided by adjusted EBITDA (Pre-IFRS 16). Chief financial officer Niall Dolan told The Irish Times this was not a level the company was comfortable with, and intended to get leverage down to 2.5 times. The Group have opted for early application as permitted in the amendment. Weighted average number of ordinary shares for diluted earnings per share ('000), (Loss)/earnings per share - Diluted (cent). . As of mid-2020, the business had grown to over 3.1BN in annual revenue, operating 610 forecourt sites internationally and employing over 15,000 people. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers. 4. In 2021 Applegreen moved from a PLC to a private ownership company structure . This website is for Private Investors* only, To continue to use Investegate, please confirm you are a private investor. RT 2023. Furthermore, Management expectations indicate a comfortable level of headroom over the revised covenants in both the Applegreen and Welcome Break facilities. To help mitigate some of this impact, the Group took swift and decisive action to protect profitability and protect cash. DONATE Support those who speak up The audit process for these results, and in particular the audit of the Welcome Break business, has been delayed by the impact of COVID-19 and it is now expected that the audited accounts will be published shortly during the course of July. With respect to the Welcome Break subsidiary specifically, Management's expectation is that the business has sufficient liquidity and covenant headroom for the next 12 months. Some of the cookies are essential for parts of the site to operate and have already been set. Fuel forecourt and service station operator Applegreen has reported higher profits and revenues for the year to the end of December. Applegreen said its group revenue for 2019 jumped by 53% to 3.1 billion, while its group adjusted EBITDA soared by 141% to 140.4m. 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. of an announcement should be directed to the source. 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. The Go-Ahead Group plc Annual Report and Accounts 2021 Strategic report 1ection 172(1) and non-financial S information statements 2 Our strengths 4 Chair's letter 7 Group Chief Executive's review 10 London & South Eastern Railway 12 Group Q&A 16 Our markets 18 Our business model 20 Our stakeholders 24 Our strategy Terms and conditions relating to the use and distribution of this information may apply. Cash and cash equivalents included in the Unaudited Consolidated Statement of Financial Position and Unaudited Consolidated Statement of Cash Flows are analysed as follows: Cash and cash equivalents (excluding bank overdrafts). submitted a copy of the Annual Report to the Financial Conduct Authority's (FCA) National Storage Mechanism in . Investegate takes no responsibility for the accuracy of the information within Applegreens interim report shows that revenues fell to 1.1bn in the first six months of this year compared with 1.5bn last year. Selling and distribution costs (excluding rent, depreciation and net impairments charges) for the Group reduced by 31.0m compared to H1 2019. The Company published its preliminary results for the year end 31 December 2019 on 27 March 2020. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. (Loss)/earnings per share from continuing operations attributable to the owners of the parent company during the year, UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME, Items that may be reclassified to profit or loss, Currency translation differences on foreign operations, Net other comprehensive expense that may be reclassified to profit or loss for the period, net of tax, Items that will not be reclassified to profit or loss, Remeasurements of post-employment benefit obligations, Income tax in relation to remeasurements of post-employment benefit obligations, Net other comprehensive expense that will not be reclassified to profit or loss in subsequent periods, Other comprehensive loss for the period, net of tax, Total comprehensive (expense)/income for the period. 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. Encouragingly, this recovery has continued over the summer months with the further lifting of restrictions, government stimulus packages and the staycation trend, all of which has improved traffic volumes, said Mr Etchingham. Drury Porter Novelli (Ireland PR Advisor), Simon Hockridge / Terms and conditions relating to the use and distribution of this information may apply. Rate Fix announcements are filtered from this site. Download pdf. You can help us help them by donating today. So far in 2020, Applegreen's shares have risen 15%. 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. 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2022 Abridged report PDF (5.29 MB) Group annual report - Integrated and strategic report . The Company's Annual General Meeting is expected to be held at 11.00 am on Tuesday, 1 September 2020. About Applegreen: Established in 1992, Applegreen is a convenience food and beverage retailer and operator of petrol forecourts and motorway service areas with a major presence in the Republic. However, in the event of a much more severe downside scenario where there is a second prolonged national lockdown across the UK caused by another wave of COVID-19, this would likely result in a breach of the revised banking covenants. In addition to the Group's current cash position, it currently has undrawn committed facilities totalling 52.5m and undrawn overdraft facilities of 12m. 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. 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. 10.68. Applegreen PLC. 5. 2 October 2015. 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. The announcements are supplied by the denoted source. 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). Annual Report 2021. 4bn 3.1bn 430.6m 500m. I confirm and agree. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so; As a result, it has implemented an extensive range of measures to safeguard both its staff and customers in each of the three countries in which it operates - Ireland, the UK and the US. Annual Report 2022 E-Book - EN. The value in use represents the present value of the future cash flows, discounted at a pre-tax discount rate of 8% (2019: 7.65%). It has also secured a deferral of payroll taxes and VAT from the UK customs for a minimum of three months in the UK and are working with Revenue here to secure a similar arrangement. During the year Applegreen continued its expansion and finished with 556 sitesat the end of December. Applegreen Barrington, USA 21ANNUAL REPORT AND FINANCIAL STATEMENTS 2019 STRATEGIC REPORT 20 APPLEGREEN PLC OUR BUSINESS MODEL The Applegreen brand is based on competitive fuel pricing that drives in-store footfall with an innovative food and beverage offer focussed on our customers' needs. As of mid-2020, the business had grown to over in annual revenue, operating 610 forecourt sites internationally and employing over 15,000 people. Adjusted EBITDA (Pre-IFRS 16) is calculated as follows: Adjusted (loss)/profit before tax is calculated using the (loss)/profit for the financial year adjusted for share based payments, non-recurring operating charges, impairment charge, interest on shareholder loans, the impact of IFRS 16 and acquisition related and acquisition related adjustments arising from business combinations. Applegreens net debt stood at 550.7 million at the end of June, about 5.2 times Ebitda. The Unaudited Consolidated Financial Information of the Company for the six months ended 30 June 2020 (the 'Financial Information') includes the Company and its subsidiaries (together referred to as the 'Group'). this site. Welcome Break have subsequently drawn down the additional facilities of 25.4m in July. Applegreen's mailing address is Block 17 Joyce Way Parkwest Dublin 12, DUBLIN,, Ireland. . Drury Porter Novelli (Ireland PR Advisor), Simon Hockridge / Peter Hewer / Alistair de Kare-Silver, Stephane Auton / Patrick Castle / Daniel Bush, 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. This information is provided by RNS, the news service of the London Stock Exchange. The safe and convenient way for your business to pay for fuel if you use at least 500L/month. Mid-West acquisition included in 2020 figures. The recoverable amounts of sites that are assessed for impairment have been determined based on the higher of value-in-use methodology or fair value less costs of disposal. As at 30 June 2020, the Group had consolidated net external debt (pre-IFRS 16) of approximately EUR550m (31 December 2019: EUR525m), comprising approximately EUR110m of cash and approximately EUR660m of external debt which includes Welcome Break facilities that are non-recourse to the wider Applegreen group: -- approximately EUR70m of cash and EUR260m of external debt within the Applegreen plc banking group; and. Over the last 30 years, our brand reputation and success has been earned through quality retail and value offerings, including our 'low fuel prices, always' promise and our 100% traceable and quality assured fuel. The impairment charge relates to service stations in Ireland, UK and US. Distributed by Public, unedited and unaltered, on 30 June 2020 09:43:07 UTC. Applegreen plc.17 Joyce WayParkwest Business ParkDublin 12D12 F2V3Ireland, +353 (0)1 512 4884(9:00-12:30, 13:30-16:30)rewards@applegreen.ie. The group recorded a loss of 26 million as against a profit of 7.4 million during the same period in 2019. Applegreen Plc PESTEL Analysis Model was proposed by Michael E. Porter in 1979. The preparation of the Financial Information requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The award is subject to successful completion of a financial plan by the Consortium members and the subsequent approval of the financial plan by theNew York StateThruway Authority and approval of the final agreement by theNew York StateOffice of the State Comptroller and by theNew York StateAttorney General. Address Applegreen plc. By using this site, you agree to use the content for private use only. The fair value has been determined on the basis of discounted cash flows. Mein Nisinta Seirbhse Poibl na hireann. The Group has reported a resilient performance in H1 2020 in an unprecedented environment where COVID-19 impacted all of our markets. Applegreen plc published this content on 30 June 2020 and is solely responsible for the information contained therein. Dec 22 (Reuters) - Applegreen APGNA.L said on Tuesday it would be taken private by a consortium led by its founders and Blackstone Infrastructure Partners in a deal that values the Irish petrol. Report Writing. Given the non-recourse nature of the Welcome Break debt this would not impact on the operations of the wider Applegreen group. For this reason, they continue to adopt the going concern basis for preparing the interim financial statements. 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Government grants represent the transfers of resources to the Group from governments in the key trading regions in which it operates, on condition that certain criteria relating to the Group's operating activities are met. Shares in the Applegreen were up 3.0% at 520.00 pence on Tuesday in London. The consolidated financial statements of the Group are prepared in accordance with Irish law and International Financial Reporting Standards ('IFRS') and their interpretations issued by the International Accounting Standards Board ('IASB') and adopted by the European Union ('EU'). For the six months ended 30 June 2020, ApplegreenPLC revenues decreased 27% to EUR1.08B. We have updated our Privacy and Cookie Policy. 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. Latest years. Geographically, management considers the performance in Ireland, the UK and the USA. Applegreen plc, B&J Holdings Limited and others completed the acquisition of U.S. motorways business of HMSHost Corporation. Self . Revenues reflect RetailSales-UK decrease of 32% to EUR548.8M. Find the latest Applegreen plc (APGN.F) stock quote, history, news and other vital information to help you with your stock trading and investing. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds; Nestl has also sent the Annual General Meeting (AGM) invitation and agenda to shareholders. You may delete and block all cookies from this site, but if you do, parts of the site may not work. The impairment charge arose from lower forecasts for future profitability in respect of these sites because of COVID-19 related trading conditions. This information is provided by RNS, the news service of the London Stock Exchange. "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. Responsible for the year applegreen continued its expansion and finished with 556 sitesat the end of,. Additional facilities of applegreen plc annual report 2020 in July, +353 ( 0 ) 1 512 4884 ( 9:00-12:30 13:30-16:30... Donating today debt this would not impact on the basis of discounted cash.. Safe and convenient Way for your business to pay for fuel if you do, of! Using this site, you agree to use the content for private use only took swift and decisive action protect... Expansion and finished with 556 sitesat the end of December RNS, United... Some of the site may not work September 2020 using this site, but if you use at least.! 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