Travis Perkins plc · LSE:TPK
Travis Perkins — Shareholder Meeting (May 2015)
34 slides from Travis Perkins's shareholder meeting presentation, May 28, 2015
Slide 1: Travis Perkins
Travis Perkins ®™
Slide 2: Chairman's Introduction
PREMIERSHIP " AVIVA PREMIERSHIP aoe 2 lara CHAMPION® = CHAIRMAN’S ~ INTRODUCTION MIERSHIP
Slide 3: Performance & Outlook
PERFORMANCE & OUTLOOK
Slide 4: 2014 key messages
2014 key messages _ * Excellent volume growth in TP and Benchmarx capacity increases Significant market 6 “ey * Wickes share gains and further Toolstation growth outperformance * Keyline and CCF material share gains * Stepped up second half growth capex Investing in & * New branches and optimising e
Slide 5: Group performance highlights
Group performance highlights Revenue ° Continued sales growth outperformance growth of £5.6bn . . . 10% EBITA ° Good growth in operating profit growth to £384m 15% adj. ° Strong earnings growth EPS growth to 119p . . LAROCE ° Improving return on capital 40bps to 10.4% Dividend ° Dividend growth unde
Slide 6: Medium-long term sustainable RMI growth
Medium-long term sustainable RMI growth Smaller ; families driving 27.8m Only 60 % 225,000 new homes maintained to households across the a satisfactory per year country level Travis Perkins ®
Slide 7: Our growth not constrained by the market
Our growth not constrained by the market * Majority of the markets we compete in are highly fragmented Market *° Proliferation of small family-owned businesses fragmentation Our businesses are #1 or #2 in each of our markets, but with relatively low rnarket shares * Sourcing & supply chain: sourcing
Slide 8: Significant achievements in our first year
Significant achievements in our first year Customer innovation * New TP format trials underway * Further price investment to grow share ° Heavyside range & sector extensions * Promotional & branded ranges into Wickes * Strong growth from Wickes online * City Plumbing format conversions Travis Perkin
Slide 9: Financial Review
Handles itchen Ranges FINANCIAL REVIEW
Slide 10: Group performance summary
Group performance summary Year-on-year Year ended 31 December 2014 2013 change Revenue £5,581m £5,149m 84% Like-for-like sales growth 7.3% 5.0% 2.3ppt Adjusted EBITA £384m £348m 10.3% Adjusted profit before tax £362m £321m 12.8% Adjusted net profit after tax £291m £249m 16.9% Free cash flow £255m £2
Slide 11: Good progress towards medium-term ratios
Good progress towards medium-term ratios weenie Mery om 201 Net debt - £358m £344m £14m Lease adjusted debt - £1,827m £1,818m £9m LA Gearing - 441% 45.6% 1.5ppt Fixed charge cover 3.5x 3.1x 2.9x 0.2x LA Debt: EBITDAR 2.5x 2.8x 3.0x 0.2x Dividend cover 2.5-3,25x 3.1x 3.3x 0.2x Definitions disclosed i
Slide 12: Confident in consistent medium term guidance
Confident in consistent medium term guidance * Continue to outperform in majority of our markets * Good operating margin prospects for the Group ° Targeting sustainable low double digit EBITA growth p.a. Add 200-300bps to lease adjusted ROCE over medium term Focus on 3 key areas: — Modernise Travis
Slide 13: Questions
\ QUESTIONS.
Slide 14: 2015 AGM
2015 AGM
Slide 15: Receive annual accounts and reports
Resolution 1 ° To receive the Company's annual accounts and the reports of the directors and auditor thereon for the financial year ended 31 December 2014 For 171,159,239 99,94% Against 107,485 0.06% Withheld 431,529 Travis Perkins ® 2015 AGM ~ 28 May 2014 15
Slide 16: Approve directors' remuneration report
Resolution 2 ° To approve the directors’ remuneration report (other than the remuneration policy) contained within the annual report and accounts for the financial year ended 31 December 2014. For 166,086,786 9800% Against 3,587,091 2.00% Withheld 2,224,376 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 17: Declare final dividend
Resolution 3 ° To declare a final dividend for the financial year ended 31 December 2014 of 25.75 pence per ordinary share, payable to shareholders on the register at the close of business on 1 May 2015 For 171,275,276 99.99% Against 977 0.01% Withheld 422,000 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 18: Appoint Coline McConville as non-executive director
Resolution 4 * To appoint Coline McConville as a non-executive director of the Company For 169,498,088 99.42% Against 992,215 058% Withheld 1,207,899 Travis Perkins ® 2015 AGM - 28 May 2014
Slide 19: Appoint Pete Redfern as non-executive director
Resolution 5 ° To appoint Pete Redfern as a non-executive director of the Company For 171,073,593 99.88% Against 198,135 0.12% Withheld 426,474 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 20: Appoint John Rogers as non-executive director
Resolution 6 ° To appoint John Rogers as a non-executive director of the Company For 171,073,364 99.88% Against 197,540 0.12% Withheld 427,298 Travis Perkins ® 2015 AGM ~ 28 May 2014 20
Slide 21: Re-appoint Ruth Anderson
Resolution 7 ° To re-appoint Ruth Anderson as a non-executive director of the Company For 171,071,851 99.88% Against 200538 = 0.12% Withheld 425,864 Travis Perkins ® 2015 AGM - 28 May 2014 21
Slide 22: Re-appoint Tony Buffin
Resolution 8 ° To re-appoint Tony Buffin as a director of the Company For 171,076,249 99.88% Against 197,212 0.12% Withheld 424,682 Travis Perki ns @ 2015 AGM ~ 28 May 2014 22
Slide 23: Re-appoint John Carter
Resolution 9 ° To re-appoint John Carter as a director of the Company For 171,078,198 99.89% Against 194,830 0.11% Withheld 425,225 Travis Perki ns @ 2015 AGM ~ 28 May 2014 23
Slide 24: Re-appoint Chris Rogers
Resolution 10 ° To re-appoint Chris Rogers as a non-executive director of the Company For 169,362,347 99.64% Against 604,771 0.36% Withheld 1,730,021 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 25: Re-appoint Andrew Simon
Resolution 11 ° To re-appoint Andrew Simon as a non-executive director of the Company For 164,338,075 9639% Against 6,147,321 3.61% Withheld 1,212,857 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 26: Re-appoint Robert Walker
Resolution 12 ° To re-appoint Robert Walker as a non-executive director of the Company For 167,730,882 9799% Against 3,437,221 2.01% Withheld 530,150 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 27: Appoint KPMG LLP as auditor
Resolution 13 ° To appoint KPMG LLP, Chartered Accountants, as auditor of the Company For 170,758,453 99.70% Against 510,899 0.30% Withheld 428,850 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 28: Authorise Audit Committee to fix auditor remuneration
Resolution 14 * To authorise the Audit Committee of the Board to fix the remuneration of KPMG LLP For 171,172,825 99.94% Against 96,061 0.06% Withheld 429,367 Travis Perkins ® 2015 AGM - 28 May 2014 28
Slide 29: Authorise directors to allot securities
Resolution 15 * To authorise the directors to allot securities For 151,322,664 8841% Against 19,846,212 11.59% Withheld 529,377 Travis Perki ns @ 2015 AGM ~ 28 May 2014 29
Slide 30: Allot securities for cash free from pre-emption
Resolution 16 ° To authorise the directors to allot securities for cash free from pre- emption For 153,687,338 89.81% Against 17,437,762 10.19% Withheld 573,153 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 31: Special Resolution: general meeting on 14 days' notice
Resolution 17 — Special Resolution ° To call a general meeting other than an AGM on not less than 14 clear day’s notice For 151,257,661 88.31% Against 20,014,489 1169% Withheld 426,103 Travis Perkins ® 2015 AGM - 28 May 2014 31
Slide 32: Special Resolution: market purchases of own shares
Resolution 18 - Special Resolution ° To authorise the Company to make market purchases of its own ordinary shares For 171,233,598 99,98% Against 35,924 0.02% Withheld 428,731 Travis Perkins ® 2015 AGM ~ 28 May 2014
Slide 33: Thank you
| 7% THANK YOU 4 fs
Slide 34: Contact
CO N TACT. Download the Travis Perkins IR Matt Johnson | +44 7584 491 284 app for iPad Graeme Barnes | +44 7469 401 819 vCard Travis Perkins®