Shares in the Applegreen were up 3.0% at 520.00 pence on Tuesday in London. 9 October 2015. The Group operates a number of service station sites in Ireland, the UK and the USA. 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 reported like for like growth in fuel revenue of 10.8% and fuel gross profit of 7.4% at a constant currency basis. Free access to Real-time quotes, Financial news, Market data and investing analysis. Applegreen asked Spinach to design and produce their 2018 Annual Report following the acquisition of Welcome Break, an exciting development for the group which saw them become the second largest Motorway Service Area (MSA) operator in the UK. 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. 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. 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. 17 Joyce Way Parkwest Business Park Dublin 12 D12 F2V3 Ireland Headquarters +353 (0)1 512 4800 Prudential plc provides life and health insurance and asset management to more than 18 million life . 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 . Download pdf. But it cautioned that it expects a material reduction in profitability for the current financial year due to the outbreak of Covid-19. The USmarket had more limited lockdown restrictions imposed during the period and performed impressively, benefitting from strong fuel margins across the US states. Annual Report for Irish forecourt retailer, Applegreen. of an announcement should be directed to the source. Corporation with Board of Directors. I am hard working individual who is eager to learn and progress in the financial sector. 5. 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'. [1] It is a major petrol retailer in Ireland, and operates convenience stores and motorway service areas. Collect points every time you fill up or shop at Applegreen. The report highlights the company's financial and non-financial performance for the year and gives an update on strategy, innovation, digitalization and sustainability. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so; Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so; 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. Report Writing. 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. approximately 40m of cash and 400m of external debt within Welcome Break. Allergan plc (NYSE: AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical company and a leader in a new industry model - Growth Pharma. From there, under the stewardship of Chairman Bob Etchingham and CEO Joe Barrett, Applegreen expanded in Ireland, growing year on year. 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. For this reason, they continue to adopt the going concern basis for preparing the interim financial statements. Queries about the content The company reported like for like growth in fuel revenue . Increase your profits and maximise your potential by joining the leading Irish forecourt retailer with an already established and trusted consumer brand. The impairment charge relates to service stations in Ireland, UK and US. Impairment of property, plant and equipment and intangibles (other than goodwill). This data is provided by Digital Look. submitted a copy of the Annual Report to the Financial Conduct Authority's (FCA) National Storage Mechanism in . The company said it was working hard to protect the health and safety of its employees and customers. 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. Copyright 2023 Surperformance. Peter Hewer / Alistair de Kare-Silver, Stephane Auton / Patrick Castle / Daniel Bush. 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. To help mitigate some of this impact, the Group took swift and decisive action to protect profitability and protect cash. Applegreens interim report shows that revenues fell to 1.1bn in the first six months of this year compared with 1.5bn last year. Annual Report 2022 E-Book - EN. Applegreen is an Irish company founded in 1992 that operates 620 petrol stations in Ireland, the UK and the US. Applegreen's 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. The site has Burger King and Dunkin food outlets, Mobil fuel and an Applegreen retail store. Applegreen's headquarters are based in Park West Business Park in Dublin, Ireland. Back Submit. For more related info, FAQs and issues please refer to DearFlip WordPress Flipbook Plugin Help documentation. 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 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). 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. MSA sites are strategic infrastructure assets that have high barriers to entry due to long development lead times and government legislation. 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. 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. Areas Annual Reports Applegreen Illustration Applegreen plc operates motorway service areas, trunk road service areas, and petrol filling stations. Fusion Mediaandany provider of the data contained in this websitewill not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. The terms of the deal have yet to be finalised. Distributed by Public, unedited and unaltered, on 30 June 2020 09:43:07 UTC. Changes in lease payments that arise from such rent concessions have been recognised in the Unaudited Consolidated Income Statement. Very tight management of working capital with a focus on reducing inventory levels and working with suppliers on payables. . 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). Why the Choice of Carbon Metrics Matters. All rights reserved. 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. It achieved revenue growth of 53% over the last. 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. Mein Nisinta Seirbhse Poibl na hireann. 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. Closing date: December 31. 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. 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 for Irish forecourt retailer. 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. Term Papers. 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. 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. We have updated our Privacy and Cookie Policy. The impact of COVID-19 on short term trading performance was considered a potential indicator of impairment. 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. Applegreen PLC. 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. Diversity, Equity and Inclusion report. 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; Latest years. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. Latest annual report and accounts. Trade and operations of the Group were severely impacted from mid-March as governments and customers took increasing measures to contain the spread of the COVID-19 virus. 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. 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. Applegreens net debt stood at 550.7 million at the end of June, about 5.2 times Ebitda. 92.6m cash and 437.8m external debt within Welcome Break. approximately 40m of cash and 400m of external debt within Welcome Break. The adjusted EBITDA calculation can be found in note 3. 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. 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. 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