Bunzl Plc · LSE:BNZL
Bunzl — Shareholder Meeting (April 2023)
12 slides from Bunzl's shareholder meeting presentation, Apr 25, 2023
Slide 1: Bunzl 2023 Annual General Meeting
BUNZL 2023 ANNUAL GENERAL MEETING April 2023
Slide 2: Income Statement
INCOME STATEMENT Very strong adjusted operating profit growth and improved margin REPORTED CONSTANT FY 22 revenue £m 2022 2021 GROWTH EXCHANGE growth2 Revenue 12,039.5 10,285.1 17.1% 9.8% 9.8% Adjusted operating profit1 885.9 752.8 17.7% 11.1% Operating margin1 7.4% 7.3% Adjusted profit before incom
Slide 3: Highly Cash Generative Model
HIGHLY CASH GENERATIVE MODEL Strong cash generation, supported by working capital improvement and disposal Cash conversion over the last 10 years Net debt : EBITDA1,2 over the last 10 years Average cash conversion1 since 2004 107% 98% 103% 102% 102% 2.3x 101% 99% 97% 97% 2.1x 95% 94% 2.0x 2.0x TARGE
Slide 4: Three Decades of Consecutive Dividend Growth
THREE DECADES OF CONSECUTIVE DIVIDEND GROWTH Maintained dividend growth through periods of uncertainty 10.0% 62.7 y-o-y dividend growth, in line with 30-year CAGR Dividend per share CAGR 9.6% 30 years of consecutive annual dividend increases 4.0 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09
Slide 5: Disciplined Approach to Capital Allocation
DISCIPLINED APPROACH TO CAPITAL ALLOCATION Highly cash generative model continues to drive stakeholder value Capital allocation Progressive dividend Value accretive acquisitions priorities £2.0bn of dividend payments since 2004 £4.7bn of committed spend since 2004 Sustainable annual dividend growth
Slide 6: Progress Against Our Sustainability Commitments
PROGRESS AGAINST OUR SUSTAINABILITY COMMITMENTS Tailored solutions for a better world Better packaging solutions Responsible supply chain Investing in our people Focus on Climate Change In 2022: In 2022: In 2022: In 2022: • 2% of Group revenues relate • 930 audits completed • Women comprise 21% of o
Slide 7: Bunzl's Agility Is a Key Asset and Differentiator
BUNZL’S AGILITY IS A KEY ASSET AND DIFFERENTIATOR Achieving growth through periods of disruption demonstrates resilience ADJUSTED OPERATING PROFIT1,2 (£m) Resilience proven during historic challenges Operational resilience Portfolio resilience Agile decentralised model Diversified portfolio of essen
Slide 8: Appendices
Appendices 2021ANNUAL 2023 FULL YEAR RESULTS GENERAL MEETING 8
Slide 9: Appendix 1: Alternative Performance Measures
APPENDIX 1 Alternative performance measures This presentation includes various performance measures defined under International Financial Reporting Standards (‘IFRS’) as well as a number of alternative performance measures. The principal alternative performance measures used in this presentation are
Slide 10: Appendix 2: Statutory P&L
APPENDIX 2 Statutory P&L £m 2022 2021 Revenue 12,039.5 10,285.1 Adjusted operating profit1 885.9 752.8 Operating margin1 7.4% 7.3% Adjusting items (184.3) (129.5) Operating profit 701.6 623.3 Net finance expense (67.9) (54.6) Disposal of business 0.9 - Profit before income tax 634.6 568.7 Reported t
Slide 11: Appendix 3: Financial Track Record 2004-2022
APPENDIX 3 Financial track record 2004 – 2022 Revenue (£bn) Adjusted operating profit1 (£m) Proven compounding 12.0 886 growth strategy CAGR 2.4 169 c.9-10% 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Adjusted EPS1 (p) Dividend pe
Slide 12: Disclaimer
DISCLAIMER This document has been prepared by Bunzl plc (the ‘Company’) solely for use at the presentation of the Company’s AGM in respect of the period ended 31 December 2022. For the purposes of this disclaimer, “Presentation” shall mean this document, the oral presentation of the slides by the Co