Our financial and sustainability results are for the twelve months ended December 31, 2019 compared to the twelve months ended December 31, 2018. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy Other primarily relates to income arising from the operation of hotels and gaming machines in the UK sites. All rights reserved. It said that it has a resilient business model, providing an essential service and its stores remain open, albeit some with significantly reduced food offerings. Dublin 2, Ireland. Applegreen is not a large company by global standards. The Group has reported a resilient performance in H1 2020 in an unprecedented environment where COVID-19 impacted all of our markets. 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"). Investegate takes no responsibility for the accuracy of the information within The Company's Annual General Meeting will be held at 11.00 am on Wednesday, 6 . 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 announcements are supplied by the denoted source. 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. Selling and distribution costs (excluding rent, depreciation and net impairments charges) for the Group reduced by 31.0m compared to H1 2019. Applegreen is an Irish company founded in 1992 that operates 620 petrol stations in Ireland, the UK and the US. "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. In 2021 Applegreen moved from a PLC to a private ownership company structure in . Geographically, management considers the performance in Ireland, the UK and the USA. 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. Results & Presentations. The Group is organised into the following operating segments: Retail Ireland - Involves the sale of fuel, food and store within the Republic of Ireland. 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%). To get access to the full report and learn more about CreditRiskMonitor's robust financial risk analysis and timely news service, request a personalized demo and free trial today. Mein Nisinta Seirbhse Poibl na hireann. The Sturbridge Service Area reopened in June 2020 following a knock down and rebuild. 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). 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. Administration expenses (excluding share-based payment expense, non-recurring costs and depreciation) increased by 0.9m to support the growing estate. We have updated our Privacy and Cookie Policy. About 3rd year commerce student . 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; 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? -2020 Please work from home. 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 . 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). Applegreen plc, B&J Holdings Limited and others agreed to acquire U.S. motorways business of HMSHost Corporation for $380 million. Mid-West acquisition included in 2020 figures. 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. 3. Applegreen plc is a forecourt retail business headquartered in Dublin, Ireland. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. This website is for Private Investors* only, To continue to use Investegate, please confirm you are a private investor. 27/02/2023. APPLEGREEN PLC 2019 ANNUAL REPORT + FINANCIAL STATEMENTS Applegreen Ballymount Ireland Adjusted EBITDA pre-IFRS 16 Site Numbers Non-Fuel Gross ProfitRevenue Welcome Break Investegate reserves the 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! It achieved revenue growth of 53% over the last. The interim goodwill impairment testing process has not identified any impairments. All rights reserved. For further information, please contact rns@lseg.com or visit www.rns.com. 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. 6. Interest cost on employee benefit obligations, Origination and reversal of temporary differences. Applegreen plc operates motorway service areas, trunk road service areas, and petrol filling stations. 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. 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. 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. This website is for Private Investors* only, To continue to use Investegate, please confirm you are a private investor. The purpose was to assess and evaluate. 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). HL accepts no responsibility for its accuracy and you should independently check data before making any . An impairment charge of 1.4 million (30 June 2019: 1.1million) was recognised in the Consolidated Income Statement within selling and distribution costs. 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. 02/10/2020. Weighted average number of ordinary shares for diluted earnings per share ('000), (Loss)/earnings per share - Diluted (cent). The Restaurant Group plc Annual Report 2020 03 Overview Strategic report Governance Financial statements. The management team has a strong track record of delivery and the talent pipeline will underpin our expansion in the three markets. : supporting our front-line workers with free fuel to transport patients and blood supplies and food donations to hospital staff and our charity partners. During the year Applegreen continued its expansion and finished with 556 sitesat the end of December. Having considered the above factors, the Directors are of the view that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for a period of twelve months following the date of this report. The Group operates a number of service station sites in Ireland, the UK and the USA. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. Applegreen 21st Anniversary Annual Report Annual Report for Irish forecourt retailer, Applegreen. Please note, this site uses cookies. Assets under construction relate to development costs incurred in the upgrade of the Group's financial ERP system. 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. With 193 service stations right across the country, youll find Applegreen is only a short journey away. Applegreen said its revenue fell by . To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms. We have now established a large Petrol Filling Station (PFS) footprint in the US and our aim is to expand our presence as a recognised operator of large Service Area sites on strategic road networks in that market. Impairment assessments are conducted at this level when indicators of impairment are considered to exist. 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 Company published its preliminary results for the year end 31 December 2019 on 27 March 2020. There will be increased focus on MSA growth in these regions. Rate Fix announcements are filtered from this site. General information and basis of preparation. 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 have opted for early application as permitted in the amendment. The report highlights the company's financial and non-financial performance for the year and gives an update on strategy, innovation, digitalization and sustainability. King, Subway, Greggs, KFC, 7-Eleven, Chopstix, Freshii etc in addition to our own proprietary Bakewell brand. Applegreen Plc (APGNA) Ireland Create Alert Add to Watchlist Applegreen Plc historical data, for real-time data please try another search 5.700 0.000 0.00% 09/03 - Delayed Data. 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. 1. Bob Etchingham, Applegreen's chief executive, said the company's absolute focus at present is navigating the various issues associated with Covid-19 and to ensure itis looking after itsstaff while continuing to deliver the essential service it provides to its customers. Why the Choice of Carbon Metrics Matters. approximately 40m of cash and 400m of external debt within Welcome Break. -2021 You NEED to come back to the office . The safe and convenient way for your business to pay for fuel if you use at least 500L/month. 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. Exam Preparation. Active Engagement. "That scenario sees a significant impact on working capital during April and May with a levelling off in June and improving thereafter. 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. 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. Applegreen Plc PESTEL Analysis Model was proposed by Michael E. Porter in 1979. 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. Please confirm that you are a private investor using the buttons below. . 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. Closing date: December 31. Significant assumptions used in the value in use assessments are summarised below: Cash flows used in the value in use assessment are calculated based on management's best estimate of pre-tax cash flow for each individual site for the coming three years and forecasted thereafter over the remaining useful lives of the assets in the site using long term growth rates. We are planning on recognising that there will be some public health measures that are going to impact our business, and we are providing for those in our forecast. Reports archive 2021 Annual Report 2021 Annual Report 2021 PDF 10.4MB 2020 Annual Report Annual Report PDF 4.1MB 2019 Annual Report Annual Report PDF 4.5MB 2018 Annual Report Annual Report PDF 4.9MB Strategic Report Annual Report 2021. 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 USmarket had more limited lockdown restrictions imposed during the period and performed impressively, benefitting from strong fuel margins across the US states. The Group's cash position is more positive than expected due to the stronger than expected performance. The CODM also reviews adjusted EBITDA on a consolidated basis. All rights reserved. In addition to the Group's current cash position, it currently has undrawn committed facilities totalling 52.5m and undrawn overdraft facilities of 12m. ("Applegreen" or the "Company" or the "Group"), Publication of Annual Report and Accounts and Notice of AGM. We are also progressing exciting opportunities with new food brand partnerships to commence food operations in the Connecticut sites in 2021. 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. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so; It said it was not issuing financial guidance for current and future years, adding that previously published market expectations should be disregarded. The board said it. Want to talk about Annual Reports? Dissertation Proposal. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. The recoverable amount of each CGU is based on a value in use calculation. Core Applegreen stand-alone leverage is 2.2x, Strong fixed asset base - carrying value (cost less depreciation) of land and buildings at 30 June 2020 is 378.4m, In order to preserve liquidity in the current environment, the Board is not recommending the payment of an interim dividend, Estate expansion continued with 559 sites at the end of June 2020, Sites remained open throughout the crisis, albeit some with significantly reduced food franchise offerings, Swift and decisive action taken across the Group to manage the cost base, Positive momentum exiting the period continued with the business trading ahead of management's expectations in Q3 to date, The Group, and Welcome Break in particular, have seen a sharp recovery and positive momentum in Q2 and into Q3, aided by government stimulus, increased traffic volumes and staycations, Sales volumes fell to 57% of the prior year period in April 2020 during the peak of the lockdown, improving significantly to 29% of the prior year in June 2020, After the period end, this recovery continued as remaining food offers were reopened, As separately announced, Group is part of a Consortium, for the design, construction, financing, operation and maintenance of the 27 motorway service areas on the New York State Thruway, Pre-IFRS 16 net debt (excluding shareholder loans) reduced significantly post-period end to 480.9m at 31 August 2020, representing cash balances of 216.7m and gross external debt of 697.6m, Whilst management remain cautious around the on-going uncertainty caused by the COVID-19 pandemic, the Board is confident that Applegreen is well positioned to benefit from future opportunities, Applegreen plc will host a webcast for analysts and institutional investors today at 8.30am (UK time). The Group traded ahead of expectations in the second quarter of 2020 and has remained profitable at an EBITDA level which further underlines the resilience and adaptability of our business during this difficult time. 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. Some of the cookies are essential for parts of the site to operate and have already been set. Our finance providers demonstrated their strong support for the business by approving these additional facilities and waiving or relaxing covenant conditions. 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. 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. 2. Net loss totaledEUR11.9M vs. income of EUR5.9M. 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. View D&B Scores & Ratings Similar Companies Nearby Shares in the Applegreen were up 3.0% at 520.00 pence on Tuesday in London. 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. As of April 2022, the business operates 620 forecourt sites and employs circa 15,000 people across Ireland, UK and America. Investegate takes no responsibility for the accuracy of the information within Privacy and Cookie PolicyTerms, *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: Applegreen plc banking group and the Welcome Break banking group secured additional facilities of 52.5m and 25.4m respectively. Applegreen plc ('the Company') is a company incorporated in the Republic of Ireland. There are typically 2 dividends per year (excluding specials), and the dividend cover is approximately 1.5. LowFuelcard, the smartest way to fuel your business. The Welcome Break business, which we anticipated would be the most heavily impacted part of the estate because of its dependence on motorway volumes, traded in line with Management's expectations for the second quarter and trading continues to improve as restrictions are lifted. Delayed London Stock Exchange 2020 Annual Report. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. The adjusted EBITDA calculation can be found in note 3. The financial information in this report has been prepared in accordance with the Group's accounting policies. The recommended offer is made by Blackstone at a price of 5.75 per share in cash, for the entire issued, and to be issued, share capital of Applegreen. 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. Find the latest Applegreen plc (APGN.F) stock quote, history, news and other vital information to help you with your stock trading and investing. Applegreen PLC Feb 2020 - Jun 2021 1 year 5 months. Welcome Break have subsequently drawn down the additional facilities of 25.4m in July. The company said it was working hard to protect the health and safety of its employees and customers. Terms & Conditions. 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. In 2019 costs relate to business combination acquisition costs and the upgrade of our financial ERP system. right to publish a filtered set of announcements. Applegreen plc, B&J Holdings Limited and others completed the acquisition of U.S. motor.. Autogrill S p A : Sells US Motorways Business To Blackstone Infrastructu.. Applegreen plc, B&J Holdings Limited and others agreed to acquire U.S. motorways busine.. Man Group Plc : Form 8.3 - Applegreen plc. Term Papers. The company also announced it is part of Empire State Thruway Partners, which has been awarded and signed a conditional 33-year lease for 27 motorway service areas on the New York State Thruway. . The site has Burger King and Dunkin food outlets, Mobil fuel and an Applegreen retail store. This page (LON:APGN) was last updated on 2/25/2023 by MarketBeat.com Staff. 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. 107m. Given the non-recourse nature of the Welcome Break debt this would not impact on the operations of the wider Applegreen group. Applegreen is at different stages of this lifecycle in its three markets. Terms and conditions relating to the use and distribution of this information may apply. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; King, Subway, Greggs, KFC, 7-Eleven, Chopstix, Freshii etc in addition to our own proprietary Bakewell brand. The auditors' report on those financial statements was unqualified and did not contain an emphasis of matter paragraph. The strength of this business is its focus on science-led innovations which underpin products catering to consumers from infant through to the elderly. Applegreen Plc 5.700 0.000 0.00% General Chart Financials Technical Forum Financial Summary Income Statement Balance Sheet Cash Flow Ratios Dividends Earnings APGNA Financial Summary For the. The Company published its preliminary results for the year end 31 December 2019 on 27 March 2020. 2020. Images Courtesy of Getty Images. The impairment charge arose from lower forecasts for future profitability in respect of these sites because of COVID-19 related trading conditions. Those projections showed that the Group will continue to operate viably. For further information, please contact, We have updated our Privacy and Cookie Policy. FEMSA's 2019 integrated Annual Report reflects our commitment to strong corporate governance and transparency, as exemplified by our organizational culture. 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. 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. 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. Overseas students deserve investigation into their missing money, says Transparency International Ireland. 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. 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. Download pdf. Annual Report for Irish forecourt retailer, Applegreen. Whilst the business has shown a strong recovery, the Board is conscious of the need to preserve cash and has not proposed an interim dividend payment for 2020. I confirm and agree. . Stewardship report. Food volumes were resilient with the Burger King drive thru sites in South Carolina maintaining strong food volumes throughout the period. Drury Porter Novelli (Ireland PR Advisor), Simon Hockridge / Back Submit. NAV, EMM/EPT, Rule 8 and FRN Variable Please confirm that you are a private investor using the buttons below. 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. As at December 2019, the business operated 556 forecourt sites and employed c.11,798 people. market had more limited lockdown restrictions imposed during the period and performed impressively, benefitting from strong fuel margins across the US states. 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. The final stage involves vertical integration of the supply chain or fuel distribution. 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2022 Abridged report PDF (5.29 MB) Group annual report - Integrated and strategic report . this site. Applegreen plc is a petrol forecourt retailer in the Republic of Ireland and the United Kingdom. Cash flows used in the value in use assessment also include maintenance capital expenditure required to maintain the site assets in their current condition. 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. 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. Subway, Greggs, KFC, 7-Eleven, Chopstix, Freshii etc in addition to the wider Group! For parts of the Group 's cash position is more positive than performance... Impacted all of our markets the cookies are essential for parts of the wider applegreen Group hard protect! Freshii etc in addition to our own proprietary Bakewell brand interim goodwill impairment testing process not... Only, to continue to operate and have already been set position more... ) was last updated on 2/25/2023 by MarketBeat.com staff ) increased by 0.9m to support the growing estate our proprietary! 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applegreen plc annual report 2020