Rentokil Initial Plc · LSE:RTO
Rentokil Initial — Investor Day (May 2015)
88 slides from Rentokil Initial's investor day presentation, May 1, 2015
Slide 1: Rentokil Pest Control Investor Seminar
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 Welcome 1
Slide 2: Forward-looking statements
This presentation contains statements that are, or may be, forward-looking regarding the group's financial position and results, business strategy, plans and objectives. Such statements involve risk and uncertainty because they relate to future events and circumstances and there are accordingly a nu
Slide 3: Rentokil Pest Control Investor Seminar
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 3
Slide 4: Andy Ransom, Chief Executive
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 Andy Ransom Chief Executive Rentokil Initial plc 4
Slide 5: Rentokil: The Global Leader in Pest Control
The Global Leader in Pest Control 8.45 Rentokil: The Global Leader in Pest Control Andy Ransom 9.00 Delivering Expertise to The Frontline: The Rentokil Model Phill Wood 9.20 Growth Opportunity in North America John Myers 9.35 A Strong Brand around the World Stewart Power 9.50 Coffee 10.10 3 x Innova
Slide 6: Today's Speakers
Today’s Speakers Alain van Lidth de Jeude Paul Cochrane Managing Director, Benelux and Latin America Regional MD, Asia Joined Rentokil Initial in 2001 and was appointed as MD Rentokil Joined Rentokil Initial in 1990 and was appointed MD Asia in 2013. Prior Pest Control Europe in 2006. Started Rentok
Slide 7: Pest Control: A Compelling Growth Industry
Pest Control A Compelling Growth Industry • £10bn industry, growing at a CAGR of 5.3% to 2019* £10bn global industry • Attractive business model – sets us apart from other industries 5.3% CAGR* – Revenue is typically on a contract recurring basis – for Rentokil 75% – Multiple portfolio levers – rete
Slide 8: Rentokil = Pest Control
Rentokil = Pest Control • Unrivalled global leadership position – Most international across 60+ countries • Strongest brand around the world, particularly important in Emerging • Significant operational leverage – Proven, repeatable lean business model with best people, tools and training – On avera
Slide 9: Delivering Expertise to The Frontline: The Rentokil Model
The Global Leader in Pest Control Delivering Expertise to The Frontline: The Rentokil Model Phill Wood Regional MD, UK & Rest of World Region 9
Slide 10: Delivering The Rentokil Model Around the World
Delivering The Rentokil Model Around the World Delivering Experience from UK to the Rest of World Region UK as the Lead Market in the Region Delivering into Rest of World Markets • A strong, growing business • A set of 20 smaller pest control markets – Generally market leader with good shares • Deve
Slide 11: Rentokil in the UK
Rentokil in the UK Founded in 1925 While others have remained the same… Some things have changed substantially over the years… Customers continue to place heavy emphasis on technician & surveyor training & quality assessment, as well as a proactive management approach to identifying & communicating
Slide 12: The UK Pest Control Market
Rentokil in the UK The UK Pest Control Market 100% A total market of around £400m 90% • £6 per head population – second highest spend 80% 42% on Pest Control per head in Europe 70% • Four major competitors of which only Rentokil & Ecolab are pure Pest plays 60% • Market Share Small Operators Mitie &
Slide 13: Rentokil in the UK: Revenue & Profit Growth
Rentokil in the UK Revenue & Profit Growth Historical Revenue & Profit trends: Cumulative Revenue Growth • Revenue - Over the period from 2010 to 2014 we have grown revenue by 25% • Average annual revenue growth 6% over the period • 2014 includes acquisition of loss making Green Compliance pest busi
Slide 14: The Rentokil Model
The Rentokil Model Championed in the UK Investment in Sales & Technical Capability Leveraging our Functions through Driving Sales The Country Model Productivity SPEED Cloud Technology to Driving Density engage across organisation One Service & Sales Team and deliver tight control Innovations to Driv
Slide 15: Investment in Sales and Technical Capabilities
The Rentokil Model Investment in Sales and Technical Capabilities Formal training programmes for all FLCs on a regular basis to equip them with the right skills and keep them up to date on products, competition, services & legislation Sales Academy Technical Academy Route 1 eLearning 3,000 technical
Slide 16: Develop Leaders of the Future
The Rentokil Model Develop Leaders of the Future Formal, well-structured training & development A formal graduate through Aspiring Managers, Team Leader programme, with 59 Training & Living Leaders to help us develop graduates commencing in existing & future Leaders, leading to 21 front line roles p
Slide 17: Sales Productivity
The Rentokil Model Sales Productivity With Focused Sales Management & Integrated Marketing A model geared around Supporting Techs to enquiry generation Generate Leads Route 1 Programme Brand & Local Community Support Structured & targeted PR • Leads per Sales head per day are up 23% from 2011 to 201
Slide 18: Driving Density Through One Service Team
The Rentokil Model Driving Density Through One Service Team Using technology – consistent national training/qualification level & business scale to maximise time spent with customers and minimise travel Fast responses to customers • Revenue per technician – indexed forward from 2011 Levels – 11% gro
Slide 19: Using Innovation To Drive Margin
The Rentokil Model Using Innovation To Drive Margin G+ and our speed approach enabling us to launch an average of 3 new innovations per quarter: Speed of execution – Pest Disinfection offer from concept to launch in ONE MONTH: • Innovations under three years old account for circa 30% of new sales •
Slide 20: Speed - Cloud Technology
The Rentokil Model Speed - Cloud Technology to Engage Organisation and Deliver Tight Control Everyone has an android device Standard survey, pricing & quoting tools everywhere Speed Central – mobile responsive online libraries of relevant information for different roles Timely, managed & controlled
Slide 21: Leverage of Business Functions Through Country Model
The Rentokil Model Leverage of Business Functions Through Our Country Model All support functions run as a Country Area team supporting all UK based businesses Each support function has a standard operating model, marginally tailored for each business • Support functions consolidated for all busines
Slide 22: Established Rentokil Pest Businesses
Supporting Growth in Rest of World Markets Leveraging UK Capability To Deliver International Growth Market Revenue Profit Relative Position Growth Growth Margin Ireland 1 6% 7% H Delivering Growth in Rest of World Estonia 1 18% 23% H Norway 2 11% 20% H Turkey 1 15% 158% M Established Rentokil Pest B
Slide 23: Deploying Capability to RoW Markets Using Speed
The Rentokil Model Deploying Capability to RoW Markets Using Speed Run a virtual region with Virtual regional support Drive rate of new service Transfer best practice in Sales System rollouts virtual business reviews teams with regular launches to develop the & Marketing & provide on a regular basis
Slide 24: Rentokil Pest Control Investor Seminar
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 24
Slide 25: The Growth Opportunity In North America
The Growth Opportunity In North America John Myers Regional MD, North America 25
Slide 26: The Quadrant Approach
The Quadrant Approach Our Strategic Approach for running the Pest Control Business • Asia • North America Quadrant Performance for Pest • Latin America • UK • MENAT • Germany • East Africa • Our Emerging markets are the future; • France • Fiji • Nordics they are the building blocks to drive 11% of R
Slide 27: The North American Pest Control Market
The North American Pest Control Market Rentokil Well-Placed for Growth in the World’s Biggest Pest Market Half the Worldwide Market Rentokil Number Three & Gaining Share Mid East & RoW 0.3 N Africa 0.2 Rollins 17% LatAm Other 55% (incl Orkin) 0.8 Asia 1.4 Pacific 0.5 Terminix 17% North America Europ
Slide 28: Rentokil Pest Control in the North American Market
Rentokil Pest Control in the North American Market Our 10 Year History of Growth $m 500 Revenue Growth % +9% 400 +42% Revenue $ 300 +4% +5% +6% +0% +26% +18% +90% 200 100 +24% +18% APBITA Growth % +8% +5% +51% +16% +14% +76% +12% APBITA $ 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Since acq
Slide 29: North American Acquisitions
North American Acquisitions We Have A Clear Acquisition Model That Links Value To Strategy Rationale Strategy • Two thirds of the North American opportunity is • Once regions achieve scale in commercial, then The Residential/Termite target bolt-on residential acquisitions Residential • The Residenti
Slide 30: North American Acquisitions
North American Acquisitions We Have A Clear Acquisition Model That Links Value To Strategy Rationale Strategy • Two thirds of the North American opportunity is • Once regions achieve scale in commercial, then The Residential/Termite target bolt-on residential acquisitions Residential • The Residenti
Slide 31: Driving Local Profitability
Driving Local Profitability Accelerate Profitability Through Local Density Impact of Density on Branch Profitability Operating Margins* Local Market Share * Margins before Corporate Overhead 31
Slide 32: Driving Local Profitability
Driving Local Profitability Accelerate Profitability Through Local Density M&A Activities Impact of Density on Branch Profitability • Bolt on example Before After Operating Margins* Revenue $884,000 $1,463,000 Operating $154,000 $295,000 Margin* 17% 20% Local Organic Growth Local Market Share * Marg
Slide 33: Driving Local Profitability
Driving Local Profitability Accelerate Profitability Through Local Density M&A Activities Impact of Density on Branch Profitability • Bolt on example Before After Operating Margins* Revenue $884,000 $1,463,000 Operating $154,000 $295,000 Margins* 17% 20% Local Organic Growth • Invest in Commercial S
Slide 34: The North America Pest Business
The North America Pest Business A portfolio of businesses delivering varying levels of profit performance • Operating Margins* • Operating Margins* Quadrant Impact on Margin 6.7% 23.8% • Our North American Pest branches are a portfolio of locations delivering Growth Potential different levels of rev
Slide 35: North American Acquisitions
North American Acquisitions We Have A Clear Acquisition Model That Links Value To Strategy Rationale Strategy •Two thirds of the North American opportunity is •Once regions achieve scale in commercial, then The Residential/Termite target bolt-on residential acquisitions Residential •The Residential
Slide 36: National Account Customers in the US
National Account Customers in the US Acquisitions Have Opened Up a $680m Market for Rentokil Under-represented in National Accounts But, Well-Placed for Growth Share 12% 10% 8% 6% 4% 10.2% 2% 7.8% 5.4% 3.9% 2.5% 0% XX Top 50 cities by population No Rentokil business coverage Rentokil business covera
Slide 37: North American Acquisitions
North American Acquisitions We Have A Clear Acquisition Model That Links Value To Strategy Rationale Strategy •Two thirds of the North American opportunity is •Once regions achieve scale in commercial, then The Residential/Termite target bolt-on residential acquisitions Residential •The Residential
Slide 38: The North American Strategy for Profitable Growth
The North American Strategy for Profitable Growth A Clear and Consistent Strategy The Approach • Invest in Commercial Sales Reps and B2B marketing support for targeted sectors • Upsell a wider range of services and new innovations to our existing customers The Local Rentokil Organic Growth • Investm
Slide 39: The North American Strategy for Profitable Growth
The North American Strategy for Profitable Growth A Clear and Consistent Strategy The Approach • Invest in Commercial Sales Reps and B2B marketing support for targeted sectors • Upsell a wider range of services and new innovations to our existing customers The Local Rentokil Organic Growth • Investm
Slide 40: The North American Strategy for Profitable Growth
The North American Strategy for Profitable Growth A Clear and Consistent Strategy The Approach • Invest in Commercial Sales Reps and B2B marketing support for targeted sectors • Upsell a wider range of services and new innovations to our existing customers The Local Rentokil Organic Growth • Investm
Slide 41: The North American Strategy for Profitable Growth
The North American Strategy for Profitable Growth A Clear and Consistent Strategy The Approach • Invest in Commercial Sales Reps and B2B marketing support for targeted sectors • Upsell a wider range of services and new innovations to our existing customers The Local Rentokil Organic Growth • Investm
Slide 42: The North American Strategy for Profitable Growth
The North American Strategy for Profitable Growth A Clear and Consistent Strategy The Approach • Invest in Commercial Sales Reps and B2B marketing support for targeted sectors • Upsell a wider range of services and new innovations to our existing customers The Local Rentokil Organic Growth • Investm
Slide 43: Rentokil Pest Control Investor Seminar
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 43
Slide 44: A Strong Brand Around The World
The Global Leader in Pest Control A Strong Brand Around The World Stewart Power Chief Marketing Officer 44
Slide 45: Rentokil Around The World: Strong Positions And Brands
Rentokil Around The World Strong Positions And Strong Brands Strong Market Positions Around the World Strong and Consistent Branding Market Number of Rentokil Markets Position Mature Emerging Total Number 1 16 31 47 Number 2 2 9 11 Number 3 3 2 5 Number 4/5 2 1 3 An Excellent Position But Need To Ke
Slide 46: Building Brand Strength Through Integrated Programmes
Building Brand Strength Through Integrated Programmes Leveraging Local Development Around The World Building Brand Awareness Building Brand Salience Building Brand Leadership Multi-Channel Marketing (Key Focus on Digital) Service Innovation 46
Slide 47: Winning The Battle For Customers Online
Winning The Battle For Customers Online A Core Area Of Competence That We Leverage Around The World Customers come to us to look for 30% pa growth in online visitors answers to their pest problems and accelerating conversion rates 2014 Organic Visitors, rentokil.com sites 2013 2012 2011 2010 J F M A
Slide 48: Brand Leadership Through Innovation
Brand Leadership Through Innovation Tangible Value of New Product Sales Rentokil has always been defined by its What Innovation delivers for us Innovation and Technical Leadership • Innovative Products • Direct upsell opportunities – Fast, effective and targeted treatments • Realising a higher price
Slide 49: Differentiating Through Our Innovation
Differentiating Through Our Innovation It’s How We Do It As Much As What We Deliver Understanding Animal Measuring Product Behaviour Efficacy Developing New Products and Service Offers Developing & Testing Regulatory & Technical Novel Interventions Compliance 49
Slide 50: Break-out Sessions
Break-out Sessions (by badge colour dot) Session 1 Session 2 Session 3 Break-out Presenters Room 10.10–10.25 10.30–10.45 10.50-11.05 1) Insect Savvas Othon Harpley Control Mark Reader 2) Rodent Nigel Cheeseright Bartholomew Control Berwyn Evans 3) The Role of Jacob Catsburg Prescot Information Stewa
Slide 51: Rentokil Pest Control Investor Seminar
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 51
Slide 52: The Global Leader in Pest Control
The Global Leader in Pest Control 52
Slide 53: Rentokil around the World
The Global Leader in Pest Control Rentokil around the World 1 May 2015 Andy Ransom Chief Executive Rentokil Initial plc 53
Slide 54: The Rentokil Family
The Rentokil Family The Most International Pest Control Company Around The World 66 Territories covering 91% of world’s economy – Market Leader in 47 54
Slide 55: Rentokil Around The World: Coverage Advantage
Rentokil Around The World Our Coverage Is A Differentiating Advantage Highest Coverage of World Economy Company-Owned Business Model • Our model is for company-owned businesses Pest Company Territories % World GDP – We do not franchise (except four small, legacy franchises) – We JV by exception (Jap
Slide 56: Growth From Emerging Markets
Growth From Emerging Markets A Major Contributor To The Category’s Growth Quadrant Positioning – Pest Performance: Emerging Quadrant • Asia • North America • Latin America • UK • MENAT • Germany • 11% of revenue but 32% of growth • East Africa • France • Fiji • Nordics • Growth rate of 31% • Pacific
Slide 57: The Market Leader In Asia
The Global Leader in Pest Control The Market Leader In Asia Paul Cochrane Regional MD, Asia 57
Slide 58: Rentokil In Asia
Rentokil In Asia Good Momentum and a Strong Platform to Leverage Growth 2012 2013 2014 CAGR Revenue (£m） 41.4 46.6 52.3 Growth % +11% +12% +12% +12% Organic % +11% +13% +10% +12% A Strong Base To Build From 12 Countries 224 Service Locations 1,865 Technicians and 91 Field Biologists Sourcing: RI Int
Slide 59: The Asian Pest Control Market
The Asian Pest Control Market Growth Outperforms GDP 1 2 3 Rentokil Position 2014 Revenue, 11-14 CAGR% 2 £2.2m, + 12.5% 2 £6.1m , +34.9% £1.5m, +1% 3 £3.5m, +30% £4.0m, +2% £2.5m, +6.6% £1.3m, +10.4% £0.9m, +49% £13m, + 8.3% £1m, + 5% £11m , +8.4% £5.8m, +15% The market leader across Asia with stron
Slide 60: Case Study from Malaysia
Case Study from Malaysia Leverage Brand and Strong Positions In An Established Market (2011-14 CAGR 8.3%) pa) Key growth drivers • Established Pest Control Market – Mind-set on Pest Control Service • Continuous density building via geographic/customer tier expansion, right sector mix • Differentiati
Slide 61: Case Study from Malaysia – Selangor Branch
Case Study from Malaysia – Selangor Branch Selling Additional Services to Customers for Retention (87% in 2012 to 89% in 2014) +22% Others £m 3 +9% Residential Shah Alam Offices 2 Industrial And Manufacturing (Non Food) 1 Food Processing Food & Beverage 2012 2013 2014 Key Facts • Population: 1.8Mill
Slide 62: Rentokil In Asia: Focus on Audited Industries
Rentokil In Asia Focus on Audited Industries (Primarily Food) and Brand Protection Industrial & Food Chain Food & Hotels Office Residential Manufacturing Processing Food Retailer Beverage Service Sector 13% 13% 8% 9% 8% 6% 13% Split 2012-14 +18% +28% +21% +19% +16% +9% +9% CAGR Export Assurance Risi
Slide 63: Huge Opportunity for Growth in China & India
Rentokil In Asia Huge Opportunity for Growth in China & India Pest Control Markets Population: 323m 1,390 m 1,260 m Pest Control (1) (2) Population: 1.26bn Industry: £ 4,950m £ 231 m £ 128 m (2) Spend / Capita: £15.30 / capita £0.17 / capita Sabiha £0.10to validate / capita (1.1% of US) (0.7% of US)
Slide 64: Factors Driving Growth in China and India
Factors Driving Growth in China and India 1 Explosive Growth of Emerging Middle Class Driving Up Expectations for Hygiene • 230-300 million middle class (est 630m by 2022)(1,5) • 160 million middle-class(3)(est. 200M/2020)(4) • 127 cities with 1 million + population(1) • 53 cities with 1 million + p
Slide 65: Factors Driving Growth in China and India
Factors Driving Growth in China and India 2 Professionalising of Food Industry Rapidly Driving Need for Pest Control • 2nd Largest retail market after USA(1) • Online food ordering $800m and growing 20-30% pa World’s largest on-line retail market(5) • The Indian food manufacturing industry accounts
Slide 66: Case Study from China
Case Study from China Driving Profitable Growth Through Targeting Top Cities (2011-14 CAGR 34% pa) £m 7 6 5 +28% 4 +44% 3 +31% 2 1 0 2012 2013 2014 Key Growth Driver • Target Top 18 city Cluster, sector mix focus to build density • High performing sales force, supported with defined sales & marketin
Slide 67: Case Study from China – Shanghai Branch
Case Study from China – Shanghai Branch Focus on Density & Sector Mix To Drive Revenue And Margin Improvement £m +25% 2 Others +32% Office/FM Industrial Hotel 1 Food Service Food Retailer 8% 14% 21% 32% 4% Food Processing 0 2012 2013 2014 Key Facts Of Shanghai Branch • Focus on 3 city clusters, Shan
Slide 68: Rentokil In Asia: M&A Accelerates Growth
Rentokil In Asia M&A Accelerates Growth While Increasing Profitability 1 2 3 Rentokil Position • Target top 5% of the 6700 pest control Rentokil Share, No of Providers service providers in 8 key countries 2 3%, 121 • Drive consolidation in established 3%, 3,000 2 markets through bolt-on acquisitions
Slide 69: Rentokil In Asia: Strong Position, Clear Plan
Rentokil In Asia Strong Position, Good Momentum, Huge Opportunities & A Clear Plan Differentiated Business Strategy Differentiated Service Offer Differentiated Service Delivery • Momentum in organic revenue growth • Meeting needs of target customer • Outstanding customer service - Integrated service
Slide 70: Our Expansion into Latin America
The Global Leader in Pest Control Our Expansion into Latin America Alain van Lidth de Jeude Regional MD, South America 70
Slide 71: Focus On Latin America
Focus On Latin America South America, Central America and Mexico Dynamic Population Economic Potential Maturing Pest Market • 600m Population • $9,500 GDP / Capita • Professionalising pest industry – Growing 1.2% pa (0.7% in Asia) – $36k in EU, $6k in Asia – Supporting exports into US • Young popula
Slide 72: Pest Control In Latin America
Pest Control In Latin America Principal Markets Latin America £840m Market Consolidating with the arrival (including Mexico and Central America) of International Players Mexico • Rentokil (6 countries) £200m – Brazil, Colombia, Chile Brazil – Mexico, Guatemala, El Salvador £320m • Ecolab (3 Counties
Slide 73: Rentokil In Latin America: City-based Strategy
Rentokil In Latin America A City-based Strategy To Drive Profitability South America Highly Urbanised Route Density Delivers Cost Leadership City Country Millions of People Sao Paolo* Brazil 20 Bueno Aires Argentina 13 Rio* Brazil 12 Lima Peru 9 Bogota * Colombia 9 Santiago* Chile 6 Belo Horizonte B
Slide 74: Entering New Markets: What We Look For In An Acquisition
Entering New Markets What We Look For In An Acquisition Quality in the Metrics Quality in the Business • City coverage in target regions/countries • Quality of contract portfolio – Absolute density and density relative to competition – Target sectors – Service Mix & Upsell Potential • Quality of fin
Slide 75: Rentokil In Latin America: Our Journey To Date
Rentokil In Latin America Our Journey To Date Colombia Mexico Market Entry: 2014 Acquisitions: 2 Market Entry: 2011 Market Position: 5 Acquisitions: 1 Market Position: 2 Brazil Guatemala Market Entry: 2012 Acquisitions: 3 Market Entry: 2015 Market Position: 2 Acquisitions: 1 Market Position: 2 Chile
Slide 76: Rentokil In Latin America: Local Growth Supporting International Growth
Rentokil In Latin America Local Growth Supporting International Growth Rentokil’s Added Value to Acquisitions Delivering Growth for Rentokil • Ultimately the opportunity to grow faster – Accelerating growth still further within fast growing markets • Access to our world class capability – The strong
Slide 77: Our Track-Record Of Creating Leverage Through Acquisitions
The Global Leader in Pest Control Our Track-Record Of Creating Leverage Through Acquisitions Chris Hunt Group M&A Director 77
Slide 78: Recap On M&A Case Studies
Creating Leverage Through Acquisitions Recap On M&A Case Studies National Density (US) City Density (Asia) Market Entry (Latin America) • Highest M&A focus • Acquiring quality competitors in • Identify the right platform – Quality • Extend footprint with medium sized target city clusters in the econ
Slide 79: Strong Track Record
Creating Leverage Through Acquisitions Strong Track Record Pest Acquisitions since 2012 55 Pest Acquisitions since 2012 Acquisitions: 18 Acquisitions: 28 1 Revenue: £26m Revenue: £145m 4 Bahamas, Brazil (3), Chile (2), Colombia, North America (21), UK (2), Lithuania, El Salvador, French Guyana, Guat
Slide 80: Our Model for Value Creation
Creating Leverage Through Acquisitions Our Model for Value Creation Disciplined Evaluation Clear Integration Plan Governance Model • Market position & Experience • Role of management • Investment Committee Review – Pre & post DD • Scale & density • Secure key customers • Customer/segment relationshi
Slide 81: Financial Value Creation – Deals vs Investment Case
Creating Leverage Through Acquisitions Financial Value Creation – Deals done vs Investment Case 2012 to H1 2014 Total Performance (n=33 deals)(1) Acquisitions: 10 Acquisitions: 16 Revenue: +4% Revenue: -- • All quadrants met or exceeded IRR EBITA: +2% EBITA: +16% targets % of total spend: 20% % of t
Slide 82: Creating Leverage Through Acquisitions: In Summary
Creating Leverage Through Acquisitions In Summary Proven Track Record Proven Integration Model Proven Value Creation 23 IRR 14 12 20% 20% 6 27% 23% 1. We have a very strong 2. We have the model to 3. Our acquisitions deliver track record and a good transfer our know-how to real financial value pipel
Slide 83: Pest Control: A Financially Attractive Category
The Global Leader in Pest Control Pest Control: A Financially Attractive Category Jeremy Townsend Chief Financial Officer 83
Slide 84: Further Potential For Margin Improvement
Pest Control – Further Potential For Margin Improvement Low Capital Intensity/High Cash Generation • Pest Control ongoing revenue +8.5% in 2014 (+12% in Q4) • Category profit +8.4% in 2014 (+10% in Q4) • Pest Control: 41% of group revenue and 44% of group profit • Clear capital allocation strategy f
Slide 85: High Revenue Growth And M&A Focus
Pest Control – High Revenue Growth And M&A Focus Increasing Exposure To Higher Growth Markets We have increased our exposure We have increased our exposure to Pest to Pest Control Control & Emerging & Emerging and Growth quadrants and Growth quadrants 85
Slide 86: Rentokil Pest Control: A Compelling Growth Story
The Global Leader in Pest Control Rentokil Pest Control A Compelling Growth Story Andy Ransom Chief Executive 86
Slide 87: Rentokil = Pest Control
Rentokil = Pest Control • Unrivalled global leadership position – Most international across 60+ countries • Strongest brand around the world, particularly important in Emerging • Significant operational leverage – Proven, repeatable lean business model with best people, tools and training – On avera
Slide 88: Rentokil Pest Control Investor Seminar
The Global Leader in Pest Control Rentokil Pest Control Investor Seminar 1 May 2015 88