Mitchells & Butlers plc · LSE:MAB
Mitchells & Butlers — FY2014 Earnings Presentation
5 slides from Mitchells & Butlers's earnings presentation, Nov 25, 2014
Slide 1: Supplementary Slides - Full Year Results 2014
Supplementary Slides Full Year Results 2014 25th November 2014
Slide 2: FY 2014 - Outlet numbers by market segment
FY 2014 - Outlet numbers by market segment Special: Browns 27 Upmarket Miller & Carter 35 social: Country Pubs 315 All Bar One 50 Family: Alex 41 Harvester 213 Castle 110 Nicholson’s 80 Toby Carveries 158 Heartlands: Crown Carveries 112 Oak Tree, Everyday social: Sizzling Pubs and O’Neill’s 328 Embe
Slide 3: FY 2014 - Outlet reconciliation
FY 2014 - Outlet reconciliation Total Total MAB Franchised managed Opening outlets 1,649 60 1,589 (end FY 2013) Transfers 1 (1) Disposals (13) (4) (9) Acquisitions 23 23 Closing outlets 1,659 57 1,602 (end FY 2014) Average trading pubs* 1,591 FY 2014 average £23.2k weekly take* Note: Lodges attached
Slide 4: FY 2014 - Financial covenants summary
FY 2014 - Financial covenants summary Securitisation restricted payment tests Test Actual (Relevant year) Headroom Free cash flow to debt service 1.3x 1.5x £43m EBITDA to debt service 1.7x 1.9x £38m Securitisation covenants Covenant Actual (Relevant year) Headroom Free cash flow to debt service 1.1x
Slide 5: FY 2014 - Securitisation profile
FY 2014 - Securitisation profile Debt service -250.00 -200.00 Annual amortisation -150.00 Annual cash interest £ms -100.00 -50.00 0.00 Sep 14 Sep 15 Sep 16 Sep 17 Sep 18 Sep 19 Sep 20 Sep 21 Sep 22 Sep 23 Sep 24 Sep 25 Sep 26 Sep 27 Sep 28 Sep 29 Sep 30 Sep 31 Sep 32 Sep 33 Sep 34 Sep 35 Sep 36 Supp