Slide 1: Annual General Meeting 27 January 2012
ANNUAL GENERAL MEETING 27 JANUARY 2012
Slide 2: 2011 Highlights
2011 Highlights 1. Encouraging performance against challenging consumer backdrop • Revenue and profit growth, strong margin performance • Double digit EPS growth 2. Focused and consistent growth plans • New-builds performing ahead of target • Continued roll out of Retail Agreement, performing in lin
Slide 3: Dealing with the downturn
Dealing with the downturn 3 Strategy adapted to current consumer and customer trends
Slide 4: Strategy
Strategy KEY COMPONENTS OF OUR STRATEGY OBJECTIVES • ‘F-Plan’ • New-build investment • Innovative agreements 1. Sustainable growth • Greater control of retail offer 2. Lower gearing ratios 3. Higher return on capital • Localness • Premium ales 4 A clear strategy focused on growth and return
Slide 5: 'F-Plan' – food is 42% of retail sales
‘F-Plan’ – food is 42% of retail sales Food Families Females 40/50’s and beyond 5 26 million meals served each year
Slide 6: Building the best pubs
Building the best pubs Cobblestones, March Blue Jay, Derby Running Horse, Fakenham The Orchard, Amesbury 6 High returns – 18.6% EBITDA ROI on 2010/11 sites
Slide 7: Growth in a difficult market
Heading (Arial Black 22pt) Heading Growth (Arial Black market in a difficult 22pt) 7 Flexibility ensures right pub, right operator, right model
Slide 8: 'Localness' and 'Premium' add value
‘Localness’ and ‘Premium’ add value 1. ‘Localness’ • Local beers with genuine local provenance 2. ‘Premium’ • 27% share of UK premium cask ale sector* • 24% share of UK bottled ale sector* 3. Innovation • FastcaskTM now 20% of cask ale brewed • New 2.8% beer (lower duty rate) * Source: BBPA Presenta
Slide 9: AGM Statement
AGM Statement 1. Managed lfl sales + 5%, operating margin in line with last year* • Food +5.5% • Wet +4.8% • Eight weeks to 21 January +7% 2. Leased, tenanted and franchise lfl profits +3%* • Eight weeks to 21 January +4% 3. Beer volumes +2%* • Premium cask ale +3%, bottled ale +7% 4. On track to op
Slide 10: www.marstons.co.uk
It’s all about Pedigree