Bunzl Plc · LSE:BNZL
Bunzl — Shareholder Meeting (2007)
31 slides from Bunzl's shareholder meeting presentation, 2007
Slide 1: Annual General Meeting 2007
a BUNZL Es Annual General Meeting 2007
Slide 2: Bunzl is a focused, international outsourcing company
Bunzl is a focused, international company providing outsourcing solutions and value-added distribution across North America, Europe and Australasia
Slide 3: Consistent Growth in Outsourcing
Consistent Growth in Outsourcing Revenue (£m) Operating Profit (£m) 3,500 250 3,000 200 2,500 150 2,000 1,500 100 1,000 50 500 0 0 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 Discontinued operations Outsourcing 1991 – 2003 under UK GAAP as reported
Slide 4: Return on Average Operating Capital
Return on Average Operating Capital % 61.4 61.7 59.3 45.1 38.9 39.0 41.1 36.5 32.2 33.0 97 98 99 00 01 02 03 04 05 06 1997 – 2003 under UK GAAP; 2004 – 2006 under IFRS (continuing operations)
Slide 5: Adjusted Earnings per Share
Adjusted Earnings per Share Pence 41.7 38.7 31.3 32.1 28.6 29.7 26.0 19.9 21.0 18.0 97 98 99 00 01 02 03 04 05 06 1997 – 2003 under UK GAAP; 2004 – 2006 under IFRS (continuing operations)
Slide 6: Summary 2006
Summary 2006 Revenue up 14% Operating profit* up 11% Adjusted eps†* up 8% Dividend per share up 8% Return on operating capital 61.7% Operating cash flow 90% of operating profit* * Before intangible amortisation † From continuing operations
Slide 7: By Business Area 2006
By Business Area 2006 Revenue Operating profit* 4% 4% 16% 17% 57% 54% 23% 25% North America Continental Europe UK & Ireland Australasia * Before intangible amortisation and corporate
Slide 8: By Business Area 2006 (£m)
By Business Area 2006 (£m) Revenue Operating profit* 117 9 545 41 1,897 131 774 60 North America Continental Europe UK & Ireland Australasia * Before intangible amortisation and corporate
Slide 9: The markets we serve
The markets we serve Revenue 2006 Foodservice Grocery Stores 30% 28% Healthcare 4% Other 9% Non-Food Retail 10% Cleaning & Safety 19%
Slide 10: Key Highlights for 2006
Key Highlights for 2006 • Organic revenue growth of c. 5% • Acquisition spend £162m and annualised revenue £390m • Three key acquisitions open up new growth opportunities • Successful integration of 2005 acquisitions • Announced new redistribution organisation for North America
Slide 11: Acquisitions
Acquisitions • Important source of growth • Nine acquisitions announced in 2006 - North America (4), UK & Ireland (3), Continental Europe (1), Australasia (1) • Major step forward in the key sectors of healthcare, North America redistribution and non-food retail • Total annualised revenues c. £390m
Slide 12: Strategy
Strategy • Pursue organic growth • Acquire in similar sectors with opportunities for further consolidation • Extend global footprint • Increase international sourcing and consolidation • Continue to make operating model more efficient • Further develop product offering
Slide 13: Slide 13
Slide 14: Resolution 1: Adoption of accounts
Annual General Meeting 2007 Resolution 1: Adoption of accounts Proxies Cast For Against Withheld 246.8m 244.8m 2.0m 0.2m 100% 99.2% 0.8%
Slide 15: Slide 15
Slide 16: Resolution 2: Declaration of final dividend
Annual General Meeting 2007 Resolution 2: Declaration of final dividend Proxies Cast For Against Withheld 247.1m 247.1m - - 100% 100%
Slide 17: Slide 17
Slide 18: Resolution 3: Re-appointment of J F Harris
Annual General Meeting 2007 Resolution 3: Re-appointment of J F Harris as a director Proxies Cast For Against Withheld 247.1m 246.7m 0.4m - 100% 99.8% 0.2%
Slide 19: Slide 19
Slide 20: Resolution 4: Re-appointment of M J Roney
Annual General Meeting 2007 Resolution 4: Re-appointment of M J Roney as a director Proxies Cast For Against Withheld 245.2m 243.3m 1.9m 1.8m 100% 99.2% 0.8%
Slide 21: Slide 21
Slide 22: Resolution 5: Re-appointment and remuneration of auditors
Annual General Meeting 2007 Resolution 5: Re-appointment and remuneration of auditors Proxies Cast For Against Withheld 239.6m 236.3m 3.3m 7.5m 100% 98.6% 1.4%
Slide 23: Slide 23
Slide 24: Resolution 6: Approval of remuneration report
Annual General Meeting 2007 Resolution 6: Approval of remuneration report Proxies Cast For Against Withheld 245.6m 239.3m 6.3m 1.5m 100% 97.4% 2.6%
Slide 25: Slide 25
Slide 26: Resolution 7: Authority to allot shares
Annual General Meeting 2007 Resolution 7: Authority to allot shares Proxies Cast For Against Withheld 247.1m 247.0m 0.1m - 100% 100%
Slide 27: Slide 27
Slide 28: Resolution 8: Authority to allot shares for cash
Annual General Meeting 2007 Resolution 8: Authority to allot shares for cash Proxies Cast For Against Withheld 247.1m 247.0m 0.1m - 100% 100%
Slide 29: Slide 29
Slide 30: Resolution 9: Authority to purchase own shares
Annual General Meeting 2007 Resolution 9: Authority for the Company to purchase its own shares Proxies Cast For Against Withheld 247.1m 242.6m 4.5m - 100% 98.2% 1.8%
Slide 31: Slide 31