applegreen plc annual report 2020

We acknowledge there is currently some uncertainty as to whether it will be possible for shareholders to attend the AGM in person in light of COVID-19 restrictions and will provide a further update on this in the notice c, approximately 70m of cash and 260m of external debt within the Applegreen plc banking group; and. Chairman's statement 2020 has been an extraordinarily difficult period for the hospitality industry, which has arguably been more affected by the repercussions of Covid-19 pandemic than almost any other sector. 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. . Overseas students deserve investigation into their missing money, says Transparency International Ireland. See insights on Applegreen including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. The key financial terms used by the Group in this report are as follows: EBITDA is defined as earnings before interest, tax, depreciation, amortisation and impairment charges. I confirm and agree. Applegreen is one of the main Irish fuel distributors. Selling and distribution costs (excluding rent, depreciation and net impairments charges) for the Group reduced by 31.0m compared to H1 2019. 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2022 Abridged report PDF (5.29 MB) Group annual report - Integrated and strategic report . Applegreen's headquarters are based in Park West Business Park in Dublin, Ireland. Impairment of property, plant and equipment and intangibles (other than goodwill). Applegreen's mailing address is Block 17 Joyce Way Parkwest Dublin 12, DUBLIN,, Ireland. This information is provided by RNS, the news service of the London Stock Exchange. The CODM has been identified as the Board of Executive Directors. 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. Net debt is adjusted for shareholder loans and IFRS 16. From there, under the stewardship of Chairman Bob Etchingham and CEO Joe Barrett, Applegreen expanded in Ireland, growing year on year. Applegreen has also deferred paying its executive director any bonuses, and said it was in advanced talks with landlords across its portfolio to secure rent reductions for the period of the disruption and to seek more favourable payment terms. Goodwill arising on business combinations is not amortised but is reviewed for impairment on an annual basis, or more frequently if there are indications that goodwill may be impaired. Home. Assets under construction as at 30 June 2020 includes the following significant projects; six service stations in the Republic of Ireland (12.2 million) and one service station in the US (7.9 million). Rate Fix announcements are filtered from this site. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's London, 22 December 2020 - Blackstone Infrastructure Partners today announced a recommended offer for Applegreen plc. 5. If you are already a subscriber and want to access the full report, click here. 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. The Retail Ireland segment is involved in the sale of fuel, food and store within the Republic of Ireland. Applegreen PLC Feb 2020 - Jun 2021 1 year 5 months. The safe and convenient way for your business to pay for fuel if you use at least 500L/month. 2. "Therefore, we are positive about navigating the company through this crisis and building our business for the long term," he added. Net debt position comprises current and non-current borrowings (excluding shareholder loans and IFRS 16 lease liabilities) and cash and cash equivalents. Prudential helps people get the most out of life. 1. 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. 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. To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms. 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'). Impairment testing methodology and results. The recoverable amount of each CGU is based on a value in use calculation. For this reason, they continue to adopt the going concern basis for preparing the interim financial statements. His comments came after interim results for the company showed revenues dropped to 1.1 billion in the first six months of this year, as compared with 1.5 billion the year before. I confirm and agree. 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). 5. Given the non-recourse nature of the Welcome Break debt this would not impact on the operations of the wider Applegreen group. . The management team has a strong track record of delivery and the talent pipeline will underpin our expansion in the three markets. Sales volumes fell to 57 per cent of the prior year period in April during the peak of the lockdown, improving to 29 per cent of the prior year in June. Nestl has also sent the Annual General Meeting (AGM) invitation and agenda to shareholders. The company reported like for like growth in fuel revenue . E&B Retail & Distribution. NAV, EMM/EPT, Rule 8 and FRN Variable Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. These include temporarily reducing its headcount by over 4,800 employees in both Ireland and UK, from a current total of 11,500 employees, under the respective government job retention schemes. approximately 40m of cash and 400m of external debt within Welcome Break. Results & Presentations. 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. Welcome Break have subsequently drawn down the additional facilities of 25.4m in July. -. A further announcement, as appropriate, will be made in due course. 3. 2. Applegreen Ltd. | Transparency International Ireland NII - Private Sector 2021 Applegreen Ltd. Rank: 14 Overall Score: 56.67% 17.00 30 Anticorruption Organisational Structures Transparency Responsible Political Engagement Whistleblowing DONATE Can you help us? To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms. 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. The Financial Information is presented in Euro, rounded to the nearest thousand, which is the functional currency of the parent company and also the presentation currency of the Group. Terms and conditions relating to the use and distribution of this information may apply. 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. By using this site, you agree to use the content for private use only. Queries about the content To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy 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. Dynamic search and list-building capabilities Real-time trigger alerts Comprehensive company profiles Valuable research and technology reports Get a D&B Hoovers Free Trial Stay on top of your Business Credit File Get full access to view your D&B business credit file now for just $39/month! The auditors' report on those financial statements was unqualified and did not contain an emphasis of matter paragraph. Mein Nisinta Seirbhse Poibl na hireann. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so; Forecourt retailer Applegreen has warned of a decline in profits for its current financial year due to the Covid-19 outbreak, as it reported a 53 per cent rise in revenues to 3.1 billion for 2019. Investec Bank plc annual report PDF (4.02 MB) Investec Bank Limited annual report PDF (2.86 MB) . 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