Welcome to Greencore
Fact Sheet
GREENCORE AT A GLANCE
A leading manufacturer of convenience food in the UK and the US
Employs over
11,000 people
Annual Turnover
Market leader in
Manufactures
4,000 products
across 20 categories
the majority of its
categories
£1.3bn
28 locations in the
UK, US and Ireland
Listed on FTSE 250
London
stock exchange
2
OUR VISION & STRATEGY
To be a fast growing, international
convenience food leader
 Deepen food to go leadership
 To have market leading propositions in complementary
convenience food categories
 Build distinctive, enduring customer partnerships
 Win in the UK and US markets now and other
geographies in the years ahead
3
THE GREENCORE WAY
 The Greencore Way is a critical
factor to the delivery of our
strategy
 It describes who we are and how
we will succeed
 Our core principles are central to
how we deliver our vision:
 People at the Core
 Great Food
 Business Effectiveness
 Cost Efficiency
4
GROUP EXECUTIVE BOARD
Patrick Coveney
CEO
Greencore Group
Peter Haden
CDO
Greencore
Group
Chris Kirke
MD
Greencore
Food to Go
Phil Taylor
Group
HR Director
Liam McClennon
CEO
Greencore
USA
Eoin Tonge
MD
Greencore
Grocery
Kevin Moore
MD
Greencore
Prepared Meals
Alan Williams
CFO
Greencore
Group
5
HISTORY
ORIGINS
TRANSITION
FOCUS
DEVELOPMENT
A broad-based food and
agribusiness centred around
the Irish sugar business
Exit of sugar and rebalancing of
the portfolio
Focused convenience food
business in the UK and the US
achieving growth mainly
through acquisition
Scale convenience food
business with significant growth
through organic initiatives
supplemented by M&A
 Exit of sugar announced
 Strong UK growth
 Strong position in UK
 Greencore established in
1991 following the
privatisation of Irish
Sugar
 Acquisition of various
malt and ingredients
businesses in 1990’s
 Diversification into
convenience food
following acquisition of
Hazlewood Foods in
2001
in 2006
 Commencement of
disposal programme,
which sees disposal of
malt, water, Dutch and
grain trading businesses
through acquisitions of
Uniq in 2011 and
International Cuisine in
2012
 Entry in to US market
through five acquisitions
commencing in 2008
market with organic
growth & developments
 Scaled up US business
with a platform for
further growth largely
through organic
initiatives
 Win in other geographies
in the years ahead
6
BUSINESS OVERVIEW
Food to Go
 No.1 manufacturer of sandwiches
 Also manufactures sushi as well as
snack and side of plate salads
 UK sites in Worksop, London (2),
Northampton, Spalding & Crosby
Prepared Meals
USA
 A fast growing food to go business in the US,
serving both the convenience and small store
channel and the grocery channel
 Seven sites operating in Newburyport (MA),
Brockton (MA), Fredericksburg (VA), Salt Lake
City (UT), Chicago (IL), Jacksonville (FL) and
Minneapolis (MN) with two sites under
construction
 Leading manufacturer of chilled
prepared meals, quiche, chilled pasta
sauce & chilled soup
 UK sites in Kiveton, Warrington,
Wisbech, Bristol & Consett
Grocery
Ingredients & Property
 No.1 manufacturer in own label cooking
 Trilby Trading – a leading importer and
sauces & pickles
 A leading manufacturer of frozen
Yorkshire Puddings, ambient cakes and
chilled desserts
 UK sites in Selby, Leeds, Hull &
Evercreech
distributor of oil and fats for food processing
 Premier and United Molasses – leading
importers and distributors of molasses for
animal feed and industrial use in Ireland
 Property – management of the Group surplus
property assets
7
FINANCIAL SUMMARY
FY14
Revenue
Versus FY13
£1,273.5m
+6.4%
Operating profit1
£82.9m
+11.4%
Operating margin1
6.5%
+30 bps
£68.7m
+15.5%
Adjusted earnings per share2
15.9p
+13.6%
Dividend per share
5.45p
+13.5%
£212.1m
-£20.7m
13.7%
+100bps
Adjusted PBT2
Net debt
ROIC
1. EBITDA, operating profit and operating margin are stated before exceptional items and acquisition related amortisation. These are non-IFRS measures. Operating profit, financing and tax for FY13
have been restated to reflect the impact of IAS19 (Revised)
2. Adjusted PBT and adjusted earnings measures are stated before exceptional items, pension finance items, acquisition related amortisation, FX on inter-company and certain external balances and
the movement in the fair value of all derivative financial instruments and related debt adjustments. FY13 comparatives have been restated to reflect the impact of IAS19 (Revised).
8
FACTS & FIGURES
Each year Greencore manufactures more than:
600 million sandwiches
150 million ready meals
200 million bottles of cooking sauces, pickles and
condiments
40 million quiche
3 million Christmas cakes a year
500 million Yorkshire puddings
9
FURTHER INFORMATION
FY15 dates:
AGM & IMS
Half-yearly financial report
IMS
Financial year end
Announcement of results
27 January 2015
19 May 2015
28 July 2015
25 September 2015
24 November 2015
For all media enquiries please contact::
Michael Evans
Group Communications Director
e:
[email protected]
t:
+44 (0) 7824 416503
w:
www.greencore.com
@GreencoreGroup
10
11