Bunzl Plc · LSE:BNZL
Bunzl — Shareholder Meeting (2010)
14 slides from Bunzl's shareholder meeting presentation, May 29, 2010
Slide 1: Annual General Meeting 2010
ANNUAL GENERAL MEETING 2010
Slide 2: Business Overview
Business Overview Business to business distribution Sales channel £4.6bn revenue in 2009 Products Wide range of non-food consumable products From leading brand manufacturers Sourcing Own brands and unbranded products Sourcing centre in Shanghai – no own manufacturing More than 12,000 employees Footp
Slide 3: 2009 Business Area Analysis
2009 Business Area Analysis Revenue Operating profit* 4% 5% 20% 26% 53% 50% 23% 19% North America UK & Ireland Continental Europe Rest of the World Diversified by geography *Before intangible amortisation and corporate costs
Slide 4: Markets We Serve 2009
Markets We Serve 2009 Other 5% Healthcare 7% Grocery Non-Food Retail 29% 8% Cleaning & Safety 21% Foodservice 30% Diversified by customer markets
Slide 5: Income Statement 2009
Income Statement 2009 £m 2009% 2008% Growth % Revenue 4,648.7% 4,177.3% 11 % Operating profit* 295.7% 280.5% 5 Adjusted earnings per share* (p) 55.9 % 52.7% 6 *Before intangible amortisation
Slide 6: Summary 2009
Summary 2009 Growth % Constant Reported Exchange Revenue 011 (0 Operating profit* 005 (6) Adjusted eps* 006 (5) Dividend per share 005 Return on operating capital 055% Operating cash flow to operating profit* 102% *Before intangible amortisation
Slide 7: Overview 2009
Overview 2009 • Overall strong management focus • New business wins • Margin management • Operating cost reductions • Working capital management • Good results in North America and Continental Europe • Encouraging second half performance • North America - positive underlying growth • Continental Eur
Slide 8: Financial Track Record
Financial Track Record Revenue (£bn) Operating profit (£m) 312 4.6 00-05 continuing operations only Before amortisation and corporate costs 297 4.2 00-05 continuing operations only 259 3.6 241 3.3 218 2.9 183 2.4 171 2.3 158 164 2.1 2.2 1.8 128 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000
Slide 9: Strategy
Strategy Organic Growth Operating Model Efficiencies Acquisition Growth Consistent strategy
Slide 10: Organic Growth - Resilient Markets
Organic Growth - Resilient Markets Foodservice Grocery Cleaning & Healthcare Hygiene Exposure to resilient markets
Slide 11: Organic Growth - Drivers
Organic Growth - Drivers Growing market sectors Fragmented competitors • Exposed to growing sectors e.g. • None do what we do, on our scale • Foodservice – away from home trend and across our markets • Cleaning & Hygiene – away from home • Bunzl’s national footprint • Healthcare – demographics • Saf
Slide 12: Operating Model Efficiencies
Operating Model Efficiencies • Significant headcount reductions implemented since mid 2008 • Ongoing initiatives: • Investment in IT • Warehouse consolidations • Northeast US • Australia • France Ongoing focus on cost efficiencies
Slide 13: Acquisition Growth
Acquisition Growth Business Acquired Country Sector Revenue WK Thomas Mar 2009 UK Horeca £25m Industrial Supplies Mar 2009 UK Cleaning & Hygiene Clean Care Jan 2010 Denmark Cleaning & Hygiene DKK60m Hamo Feb 2010 Denmark Horeca DKK43m Weita Mar 2010 Switzerland All CHF71m Improving market for acquis
Slide 14: Annual General Meeting 2010
ANNUAL GENERAL MEETING 2010