Mitchells & Butlers — H1 2012 Earnings Presentation

4 slides from Mitchells & Butlers's earnings presentation, May 18, 2012

Slide 1: Supplementary Information – Half Year Results
Supplementary Information Half Year Results – 18 May 2012
Slide 2: Estate details by food spend
Estate details by food spend High Miller & Carter Harvester Crown 200 26 Toby Carveries Vintage Inns 143 119 233 Food as % of sales 25 81 Alex 40 Sizzling 47 Browns Premium Pubs Ember All Bar One Country 220 Dining 130 Town Centre & Community Nicholson’s 81 Metropolitan 76 Professionals O’Neill’s 97
Slide 3: Outlet reconciliation H1 2012
Outlet reconciliation H1 2012 Total Franchised Total MAB Managed Closing outlets (end FY 11) 1,605 69 1,536 Transfers - (5) 5 Disposals (2) - (2) Acquisitions 26 1 25 Closing outlets (end H1 12) 1,629 65 1,564 Average trading pubs* 1,545 Average weekly take* £22.2k Note: Lodges attached to sites do
Slide 4: Financial covenants summary H1 2012
Financial covenants summary H1 2012 Securitisation Restricted Payment Tests Test Actual Headroom (Relevant Year) Free Cash flow to Debt Service 1.3x 1.6x £49m EBITDA to Debt Service 1.7x 2.0x £52m Securitisation Covenants Covenant Actual Headroom (Relevant Year) Free Cash flow to Debt Service 1.1x 1