applegreen plc annual report 2020
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. Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Calle del Rollo 5 28005 Madrid Espaainfo@multiplestudio.orgBehanceLinkedinInstagramPrivacyCookies. Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical company and a leader in a new industry model - Growth Pharma. Two scenarios were considered for the Group in preparing our going concern assessment being a management case and another scenario using a set of severe but plausible downside assumptions to that management case. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Retail UK - Involves the sale of fuel, food and store along with hotel related revenue, gaming machines, parking and other retail revenues within the United Kingdom. Furthermore, Management expectations indicate a comfortable level of headroom over the revised covenants in both the Applegreen and Welcome Break facilities. 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. 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. There are typically 2 dividends per year (excluding specials), and the dividend cover is approximately 1.5. The group recorded a loss of 26 million as against a profit of 7.4 million during the same period in 2019. 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 Group temporarily reduced frontline headcount in late March with employees returning to the business as food offers were reopened and volumes increased; We secured a deferral of payroll taxes and VAT from HMRC and Irish Revenue; We benefited from the UK and Republic of Ireland government property rates moratoriums for twelve months and six months, respectively; We negotiated rental reductions or holidays with landlords; We reduced repairs and maintenance costs, a large component of the cost base, to minimal levels; We implemented a recruitment freeze and reduced headcount in selective areas; We implemented graduated salary cost reductions on a temporary basis for support staff across the organisation; We deferred development capital expenditure and reduced maintenance capital expenditure to its absolute minimum level; and. The growth pillars of the business are based on growing food to become the dominant profit stream and therefore reducing the dependency on fuel, partnering with premium food-to-go brands and focusing on value accretive acquisitions. The company reported like for like growth in fuel revenue of 10.8% and fuel gross profit of 7.4% at a constant currency basis. County Louth, Ireland Barmaid . 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. Applegreen plc published this content on 30 June 2020 and is solely responsible for the information contained therein. Question Solution . Net loss totaledEUR11.9M vs. income of EUR5.9M. Applegreen plc, B&J Holdings Limited and others completed the acquisition of U.S. motorways business of HMSHost Corporation. About 3rd year commerce student . No impairments were identified in 2019. Terms & Conditions. 2023 FE fundinfo. 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 debt in the Welcome Break banking group is ring-fenced to that group of companies and is non-recourse to the wider Applegreen group. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. Why the Choice of Carbon Metrics Matters. Applegreen plc has reduced its earnings per share by an average of 20% a year, over the last three years (measured with a line of best fit). Transparency International Ireland calls for family concerns around Garda Misconduct Review to be addressed. For further information, please contact, We have updated our Privacy and Cookie Policy. Applegreen plc is a petrol forecourt retailer in the Republic of Ireland and the United Kingdom. October 2015. 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2022 Abridged report PDF (5.29 MB) Group annual report - Integrated and strategic report . Annual Report 2022 E-Book - EN. If you wish to receive a hard copy of Prudential plc's Annual Report or Form 20-F free of charge, please email: secretariat@prudentialplc.com. 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. 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 . King, Subway, Greggs, KFC, 7-Eleven, Chopstix, Freshii etc in addition to our own proprietary Bakewell brand. Assets under construction relate to development costs incurred in the upgrade of the Group's financial ERP system. DONATE Support those who speak up 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 onvening the Annual General Meeting. 1. 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. RT.ie is the website of Raidi Teilifs ireann, Ireland's National Public Service Media. Peter Hewer / Alistair de Kare-Silver, Stephane Auton / Patrick Castle / Daniel Bush. 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. 6. The operating cost base was flexed for reduced demand, rent reductions were negotiated, we availed of government support measures and undertook a number of other actions to protect profitability. Measures taken have included segregation and zoning, use of appropriate personal protective equipment and increased sanitisation and screening measures and remote working where possible; : ensuring continuity of essential service to our customers across our three markets despite challenges presented by the pandemic, adapting our offerings to address changing consumer demands and buying behaviours; and. Applegreen plc operates motorway service areas, trunk road service areas, and petrol filling stations. Revenues reflect RetailSales-UK decrease of 32% to EUR548.8M. Annual Report 2021. For further information, please contact rns@lseg.com or visit www.rns.com. The investor presentation will be available on the Group's website at, For details of the webcast please contact Amy O'Sullivan at MHP Communications on. 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; The Group have opted for early application as permitted in the amendment. All rights reserved. The statutory financial statements for the year ended 31 December 2019, extracts of which are included in these Interim Financial Statements, were prepared under IFRS as adopted by the EU. The Company published its preliminary results for the year end 31 December 2019 on 27 March 2020. Increase your profits and maximise your potential by joining the leading Irish forecourt retailer with an already established and trusted consumer brand. [1] It is a major petrol retailer in Ireland, and operates convenience stores and motorway service areas. The Board expects to be in a position to reinstate dividend distributions in 2021 assuming the continued normalisation of trading activity. Applegreen 21st Anniversary Annual Report Annual Report for Irish forecourt retailer, Applegreen. 107m. Obtains access to the information in a personal capacity; approximately 40m of cash and 400m of external debt within Welcome Break. Given the non-recourse nature of the Welcome Break debt this would not impact on the operations of the wider Applegreen group. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; AIB Group (UK) p.l.c. Applegreens group adjusted earnings before interest, tax, deprecation, and amortisation (Ebitda) of 25.3 million was down from 58.9 million in the first six months of 2019. Cash and cash equivalents include the following for the purposes of the statement of cash flows: On 8 September 2020 the Group announcedthat it is part ofEmpire StateThruway Partners (the "Consortium"), which has been awarded and signed a conditional 33 year lease for the design, construction, financing, operation and maintenance of the 27 motorway service areas on theNew York StateThruway. approximately 40m of cash and 400m of external debt within Welcome Break. As of April 2022, the business operates 620 forecourt sites and employs circa 15,000 people across Ireland, UK and America. 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). Active Engagement. We seek to protect people's wealth, and help them to grow their assets and save for their goals. Queries about the content 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. 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). Finance providers were engaged at an early stage to ensure there was sufficient covenant flexibility and access to additional borrowing facilities. Shareholder centre. 20/08/2020. Autogrill S p A : Sells US Motorways Business To Blackstone Infrastructure-Led Consortium. Mein Nisinta Seirbhse Poibl na hireann. (1) Non recurring charges in 2020 include costs that relate to business combination acquisition costs and expenses incurred in relation to COVID-19. Drury Porter Novelli (Ireland PR Advisor), Simon Hockridge / (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. Applegreen plc is a high growth roadside convenience retail business operating in Ireland, the United Kingdom and North America. . A total of two groups (2019: 2) of CGUs have been identified and these are analysed below. 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! 6. 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. Taking a look at our. Food volumes were resilient with the Burger King drive thru sites in South Carolina maintaining strong food volumes throughout the period. Adjusted profit after tax and non-controlling interest. Dublin 2, Ireland. 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. ("Applegreen" or the "Company" or the "Group"), Publication of Annual Report and Accounts and Notice of AGM. Exam Preparation. From humble beginnings in 1992, Applegreen started with the opening of our first service station in Ballyfermot, West Dublin. 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. The fair values of non-current trade and other receivables is equivalent to their carrying value. 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. "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. Applegreen is at different stages of this lifecycle in its three markets. 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. Annual Report 2017 - 2018 Download. 27/02/2023. -. 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. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. 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. The interim goodwill impairment testing process has not identified any impairments. Latest years. 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. The CODM has been identified as the Board of Executive Directors. General information and basis of preparation (continued). *All intraday prices are subject to a delay of fifteen (15) minutes. 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. Open all FINANCIAL PERFORMANCE Billings 46.9bn (2019: 53.1bn) Revenue 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. Applegreen's headquarters are based in Park West Business Park in Dublin, Ireland. Ahead of the highly-anticipated return of Game of Thrones this April, we can raise a glass to the Game of Thrones Single Malt Scotch Whisky Collection as it officially hits stores across certain European countries. Financial highlights: Group revenue increased by 27% on H1 2017 (672.5m) to 854.9m (30% on a constant currency basis) Drury Porter Novelli (Ireland PR Adviser). RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. We commenced a rebranding of the fuel offer in the Mid-West sites at the start of the year which is still ongoing. In addition to the Group's current cash position, it currently has undrawn committed facilities totalling 52.5m and undrawn overdraft facilities of 12m. Reports 2022 2021 2020 2019 2018 2017 2016 2015 2014 Archive 10 May 2022 Annual report 2022 Annual report 2022 [PDF] Download pdf Annual report xHTML [ZIP] Download zip Interactive PDF version Open link 08 Nov 2022 Half-yearly report 2022 Half-yearly report 2022 Download pdf View and download our archive of results materials. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. The final stage involves vertical integration of the supply chain or fuel distribution. Man Group PLC : Form 8.3 . Report Writing. Annual Financial Report 2020 AIB Group Country by Country Report 2020 2020 Half- Yearly Financial Results AIB Group plc 2020 Half-Yearly Financial Results Presentation AIB Group plc 2020 Half-Yearly Financial Results Announcement AIB Group plc 2020 Half-Yearly Financial Report 17 Joyce Way Parkwest Business Park Dublin 12 D12 F2V3 Ireland Headquarters +353 (0)1 512 4800 You may delete and block all cookies from this site, but if you do, parts of the site may not work. Cash flows used in the value in use assessment are calculated based on management's best estimate of pre-tax cash flow for the CGU for the coming three years and forecasted thereafter over the remaining useful life of the assets in the CGU using a long-term growth rate of 2%. This data is provided by Digital Look. Adjusted (loss)/profit before tax is calculated as follows: Adjusted Diluted EPS is calculated using the (loss)/profit for the financial year adjusted for share based payments, non-recurring operating charges, interest on shareholder loans, impairment charges, the impact of IFRS 16, acquisition related amortisation charges and the related non-controlling interest and tax impact on these items divided by the weighted average number of ordinary shares in issue for diluted earnings per share. The adjusted EBITDA calculation can be found in note 3. By using this site, you agree to use the content for private use only. The Annual Report and a notice c, The Company's Annual General Meeting is expected to be held at, 11.00 am on Tuesday, 1 September 2020. 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. Armstrong Teasdale > The Legal 500 Rankings Corporate and commercial > M&A: smaller deals, up to 50m Tier 3 Armstrong Teasdale's London corporate team had a busy 2021, advising on more than 30 M&A deals.Team head Peter Kohl, qualified in both England and the United States, has more than 30 years' transactional and advisory experience in M&A, venture capital, capital markets and corporate . Stoxx Europe 600 : Applegreen Delists from Euronext Growth, London's AI.. Applegreen : Form 38.5 (EPT/RI) - Applegreen plc - Shore Capital Stockbrokers Ltd. B&J Holdings Limited, Blackstone Infrastructure Par.. Applegreen : Irish High Court Greenlights Applegreen Takeover By Co-Founders, Chief Executive Officer & Executive Director, Chief Operating Officer & Executive Director. 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. 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). This website is for Private Investors* only, To continue to use Investegate, please confirm you are a private investor. 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. 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. The Group's cash position is more positive than expected due to the stronger than expected performance. However we look forward to the future with growing confidence whilst cognisant of the risks that may still impact the business in the future, it said. 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. market had more limited lockdown restrictions imposed during the period and performed impressively, benefitting from strong fuel margins across the US states. In 2021 Applegreen moved from a PLC to a private ownership company structure . 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. 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; Allergan plc. Dissertation Proposal. Enter the number of Applegreen Plc shares you hold and we'll calculate your dividend payments: 4. . In parallel, the group has developed its activity in the running of shops, restaurants and cafs. 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. Self . 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. To this day, Applegreen is still under the guardianship of Bob and Joe and supported by our dedicated team in our headquarters in Dublin. 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. Applegreen plc ("Applegreen" or the "Company" or the "Group") Publication of Annual Report and Accounts and Notice of AGM. 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