Business
2023 Interim Results
2023 Interim Results.
About this update from Rentokil Initial Plc
[{"type":"text","content":"\n\n \n2023 Interim Results\nStrong operational and financial performance: Organic Revenue¹ growth of 5.9%; excellent momentum in bolt-on M&A with increased spend expectation for full year\nEffective delivery on Terminix integration plan; cost synergies firmly on track\n\n\n\nFinancial Results¹\n\n\nAER\n\n\n\n\n\nCER\n\n\n\n\n£m\n\n\nH1 2023\n£m\n\n\nH1 2022\n£m\n\n\nChange\n%\n\n\nH1 2023\n£m\n\n\nH1 2022\n£m\n\n\nChange\n%\n\n\n\n\nRevenue\n\n\n2,671\n\n\n1,572\n\n\n69.9%\n\n\n\n\n\n2,666\n\n\n1,613\n\n\n65.3%\n\n\n\n\nAdjusted EBITDA\n\n\n602\n\n\n350\n\n\n72.0%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted Operating Profit\n\n\n437\n\n\n233\n\n\n88.0%\n\n\n\n\n\n434\n\n\n239\n\n\n81.7%\n\n\n\n\nAdjusted Profit before Tax\n\n\n377\n\n\n226\n\n\n67.3%\n\n\n\n\n\n383\n\n\n229\n\n\n66.9%\n\n\n\n\nFree Cash Flow\n\n\n229\n\n\n151\n\n\n51.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDiluted Adjusted EPS\n\n\n11.41p\n\n\n9.45p\n\n\n20.7%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nStatutory Results\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n2,671\n\n\n1,572\n\n\n69.9%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating Profit\n\n\n304\n\n\n170\n\n\n79.3%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nProfit before Tax\n\n\n240\n\n\n162\n\n\n48.1%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nEPS\n\n\n7.35p\n\n\n6.67p\n\n\n10.2%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nDividend Per Share\n\n\n2.75p\n\n\n2.40p\n\n\n14.6%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n \n2023 Interim Highlights (Unless otherwise stated, all financials are presented at constant exchanges rates and Organic Revenue growth figures exclude COVID disinfection.)\n\n\n\n●\n\n\nRevenue up 65.3%, reflecting the benefit of M&A, including Terminix. Strong Organic Revenue growth of 5.9%, reflecting growth across all regions, and driven by resilient underlying demand and continued effective pricing. Statutory Revenue up 69.9% to £2,671m at AER\n\n\n\n\n\n\n\n-\n\n\nOrganic Revenue growth of 4.1% in North America, achieved alongside the start of the integration pilot programme and exit of 64 branches; Organic Revenue growth of 4.8% in North America Pest Control services despite lower industry-wide lead flow from residential and termite customers\n\n\n\n\n\n\n\n-\n\n\nOrganic Revenue up 11.1% in Europe, the Group's second largest region\n\n\n\n\n\n\n\...