Please click on the tabs below to select the year you require. Writing Services . The CODM has been identified as the Board of Executive Directors. ROLLS-ROYCE HOLDING S PLC - ANNUAL REPORT 2020 5 C H A I R M A N ' S S T A T E M E N T Board developments In August, Stephen Daintith informed the Board that he had decided to leave to take up another opportunity. A YEAR OF GROWTH Revenue Non-Fuel Gross Profit. 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. However, footfall and volumes were severely impacted from mid-March as governments and customers took measures to contain the spread of the Covid-19 virus. General information and basis of preparation. It said it was not issuing financial guidance for current and future years, adding that previously published market expectations should be disregarded. APPLEGREEN PLC 2019 ANNUAL REPORT + FINANCIAL STATEMENTS Applegreen Spalding, UK 2 APPLEGREEN PLC ANNUAL REPORT AND FINANCIAL STATEMENTS 2019 3. 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'). The financial information in this report has been prepared in accordance with the Group's accounting policies. This data is provided by Digital Look. Rate Fix announcements are filtered from this site. 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 . Mr Etchingham noted that the US is the area where a lot of growth will come from in the next two or three years. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Wherever you are. I confirm and agree. The acquisition is conditional on gaining at least 75% in. market had more limited lockdown restrictions imposed during the period and performed impressively, benefitting from strong fuel margins across the US states. 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. 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. Some of the cookies are essential for parts of the site to operate and have already been set. 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! Improving the customer journey to inspire loyalty is central to what we do, ensuring we provide a smooth and enjoyable experience. 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 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. 1. 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; 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). 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. 9 October 2015. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy Peter Hewer / Alistair de Kare-Silver, Stephane Auton / Patrick Castle / Daniel Bush. Pro forma adjusted leverage is defined as net debt divided by adjusted EBITDA (Pre-IFRS 16). Net debt position comprises current and non-current borrowings (excluding shareholder loans and IFRS 16 lease liabilities) and cash and cash equivalents. 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 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. Our financial and sustainability results are for the twelve months ended December 31, 2019 compared to the twelve months ended December 31, 2018. The CODM also reviews adjusted EBITDA on a consolidated basis. 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. 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. The auditors' report on those financial statements was unqualified and did not contain an emphasis of matter paragraph. Adjusted EBITDA refers to EBITDA adjusted for share based payments and non-recurring items. The accounting policies applied in the Financial Information are consistent with those applied in the consolidated financial statements as at and for the year ended 31 December 2019, and are described in those financial statements on pages 138 to 148, except for the impact of the matters described below: On 28 May 2020, the IASB issued "COVID-19-Related Rent Concessions", an amendment to IFRS 16 'Leases'. 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. 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. Stewardship report. 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. 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. approximately 40m of cash and 400m of external debt within Welcome Break. The company operates as a roadside convenience food and beverage retailer that sells fuel, food, and other groceries under its Bakewell and Applegreen brands, as well as other partnered international brands, such as . Obtains access to the information in a personal capacity; Furthermore, Management expectations indicate a comfortable level of headroom over the revised covenants in both the Applegreen and Welcome Break facilities. . The interim goodwill impairment testing process has not identified any impairments. Finance providers were engaged at an early stage to ensure there was sufficient covenant flexibility and access to additional borrowing facilities. 2. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. Please note, this site uses cookies. 2023 FE fundinfo. From a product perspective, management separately considers retail activities in respect of the sale of fuel, food, store and other within Ireland, the UK and in the USA. ("Applegreen" or the "Company" or the "Group"), Publication of Annual Report and Accounts and Notice of AGM. Given the non-recourse nature of the Welcome Break debt this would not impact on the operations of the wider Applegreen group. 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. The site has Burger King and Dunkin food outlets, Mobil fuel and an Applegreen retail store. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; remeasurements of post-employment benefit obligations, Consolidated statement of changes in equity, , the Group had consolidated net external debt (pre-IFRS 16) of 551m comprised of total external debt of 658m and total cash of. The impairment charge relates to service stations in Ireland, UK and US. 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. 10.68. Results & Presentations. 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 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. APPLEGREEN (trading name, 2019-10-03 - 2024-10-03) BURGER KING OF BARRINGTON (trading name, 2019-10-03 - 2024-10-03) Agent Name CORPORATION SERVICE COMPANY Agent Address 10 Ferry Street Suite 313, Concord, NH, 03301, USA Directors / Officers CORPORATION SERVICE COMPANY, agent Elizabeth Pierce, president Elizabeth Pierce, director Registry Page 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. 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"). 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. 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 remainder of the Applegreen estate traded ahead of Management's expectations, aided by strong store sales in the local petrol filling station sites, good fuel margins and extensive cost saving measures. General information and basis of preparation (continued). To this day, Applegreen is still under the guardianship of Bob and Joe and supported by our dedicated team in our headquarters in Dublin. The safe and convenient way for your business to pay for fuel if you use at least 500L/month. RT 2023. 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