2020 Annual Report. Annual Audited Accounts 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. Address Applegreen plc. The award is also subject to the Consortium securing financing for the project, a process which is ongoing. Closing date: December 31. For this reason, they continue to adopt the going concern basis for preparing the interim financial statements. 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. Finance providers were engaged at an early stage to ensure there was sufficient covenant flexibility and access to additional borrowing facilities. All rights reserved. Applegreen is the number one Motorway Service Area Operator (MSA) in the Republic of Ireland and the number two Motorway Service Area Operator in the United Kingdom. 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. 5. Dublin 2, Ireland. Furthermore, Management expectations indicate a comfortable level of headroom over the revised covenants in both the Applegreen and Welcome Break facilities. 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. 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. 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. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 10.68. 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. (Loss)/profit from continuing operations attributable to the owners of the Company ('000), Weighted average number of ordinary shares in issue for basic earnings per share ('000). Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; The Group has reported a resilient performance in H1 2020 in an unprecedented environment where COVID-19 impacted all of our markets. General information and basis of preparation. Privacy and Cookie PolicyTerms, *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: Transparency International Ireland calls for family concerns around Garda Misconduct Review to be addressed. 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. Applegreen is not a large company by global standards. Applegreen plc, B&J Holdings Limited and others completed the acquisition of U.S. motorways business of HMSHost Corporation. Annual Report for Irish forecourt retailer. The accounting policies and methods of computation and presentation adopted in the preparation of the Financial Information are consistent with those described and applied in the annual report for the year ended 31 December 2019 with the exception of treatment of COVID 19 related rent concessions and government grants and assistance, as described in note 2. APPLEGREEN PLC 2019 ANNUAL REPORT + FINANCIAL STATEMENTS Applegreen Spalding, UK 2 APPLEGREEN PLC ANNUAL REPORT AND FINANCIAL STATEMENTS 2019 3. The board said it was not recommending the payment of an interim dividend. LowFuelcard, the smartest way to fuel your business. 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. Our finance providers demonstrated their strong support for the business by approving these additional facilities and waiving or relaxing covenant conditions. -2020 Please work from home. This page (LON:APGN) was last updated on 2/25/2023 by MarketBeat.com Staff. Glencore plc ("Glencore" or the "Company") has today: published its Annual Report for the year ended 31 December 2020 ("Annual Report") on its website www.glencore.com as required by DTR 4.1.3 R and 6.3.5 R; and. Through sixteen handcrafted paper cut-out illustrations, illuminated and photographed, we visualised the concept of tangible growth. Find out more about our investors, dealers, fuel card incentives and our plans for the future. No impairments were identified in 2019. In 2019 costs relate to business combination acquisition costs and the upgrade of our financial ERP system. this site. 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. The Go-Ahead Group plc Annual Report and Accounts 2021 Strategic report 1ection 172(1) and non-financial S information statements 2 Our strengths 4 Chair's letter 7 Group Chief Executive's review 10 London & South Eastern Railway 12 Group Q&A 16 Our markets 18 Our business model 20 Our stakeholders 24 Our strategy 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. Find the latest Applegreen plc (APGN.F) stock quote, history, news and other vital information to help you with your stock trading and investing. Retail USA - Involves the sale of fuel, food and store within the United States of America. 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. Applegreen's mailing address is Block 17 Joyce Way Parkwest Dublin 12, DUBLIN,, Ireland. The group recorded a loss of 26 million as against a profit of 7.4 million during the same period in 2019. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around . Cash flows used in the value in use assessment also include maintenance capital expenditure required to maintain the site assets in their current condition. By using this site, you agree to use the content for private use only. 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. Rate Fix announcements are filtered from this site. NAV, EMM/EPT, Rule 8 and FRN Variable 2023 FE fundinfo. Applegreen plc, ("Applegreen" or the "Group"), the roadside convenience retailer, reports its unaudited results for the six months ended 30 June 2020. Applegreen PLC 2014 - Jan 2018 4 years. Applegreen is a major petrol forecourt retailer with operations in the Republic of Ireland, the United Kingdom and the USA. Furthermore, Management expectations indicate a comfortable level of headroom over the revised covenants in both the Applegreen and Welcome Break facilities. The acquisition is conditional on gaining at least 75% in. 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. Latest years. 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; 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. 1. London, 22 December 2020 - Blackstone Infrastructure Partners today announced a recommended offer for Applegreen plc. Home. County Louth, Ireland Barmaid . Report this profile Report Report. The terms of the deal have yet to be finalised. 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. 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 note, this site uses cookies. 1. 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. The interim goodwill impairment testing process has not identified any impairments. Current trade and other receivables are non-interest bearing and are generally less than 30 day credit terms. Please note, this site uses cookies. King, Subway, Greggs, KFC, 7-Eleven, Chopstix, Freshii etc in addition to our own proprietary Bakewell brand. 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. Store sales performed exceptionally well with higher sales than 2019 through the summer months. The financial information in this report has been prepared in accordance with the Group's accounting policies. All rights reserved. Annual Report 2019 - 2020 View Now Download. 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. Currency in EUR. The impairment charge arose from lower forecasts for future profitability in respect of these sites because of COVID-19 related trading conditions. 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. Dissertation Proposal. of an announcement should be directed to the source. For more related info, FAQs and issues please refer to DearFlip WordPress Flipbook Plugin Help documentation. So far in 2020, Applegreen's shares have risen 15%. 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. 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. Interim. 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