2008InterimResults 1 . - PowerPoint PPT Presentation

. 2008�Interim�Results� �������������� 1

. �������� ����������������� Divisional�&�Financial�Review� ���������� Operational�Developments ������������������������������ Q&A� *At constant exchange rates 2

. Andrew�Macfarlane 3

. �������������������� � ������������� � ��������������� � � ���������������������� ������ � ������ � ����"� � #� !� !� !� Revenue� 1,178.1� � 1,120.6� 1,068.8� 4.8� EBITA� 68.2� � 59.4� 122.4� (51.5)� Interest� (24.6)� � (24.3)� (38.7)� 37.2� Associates� 1.2� � 1.0� 1.1� (9.1)� PBTA� 44.8� � 36.1� 84.8� (57.4)� One.off�items� 3.3� � 3.2� 3.2� .� ��$������%�&�� 48.1� � 39.3� 88.0� (55.3)� � � � � � � Free�cash�flow� � � � .� (actual�exchange�rates)� ��(16.4)� 48.8� � � � � � � Basic�EPS�(continuing� 0.66p� 2.88p� (77.1)� operations)� � � � � � � Interim�DPS� � 0.65p� 2.13p� (69.5)� � � � � � � � � � � � � � € average exchange rate 1.30 (2007: 1.46) 4

. ��$������%�&� ���������'(������������� � )����� � )����� � ������ � ����"� � #� !� !� !� !� � � � � � � � ���*�+��,� (15.4)� (12.5)� (27.9)� 24.1� .� � � � � � � � � &�(������-������!� 24.6� 20.2� 44.8� 53.5� (16.3)� � � � � � � � %������������ 11.4� 17.8� 29.2� 28.3� 3.2� � � � � � � � �����������.��/����� 8.6� 9.1� 17.7� 18.6� (4.8)� � � � � � � � �����%������� 6.0� 4.8� 10.8� 14.3� (24.5)� � � � � � � � �!0���� 0.9� 1.3� 2.2� 2.5� (12.0)� � � � � � � � ������1.�����������2� 2.7� 2.2� 4.9� 4.8� 2.1� � � � � � � � �������������� (10.1)� (9.0)� (19.1)� (20.5)� 6.8� � � � � � � � ��$������'�3&�� ��4"� 5546� 7�47� ��847� 18�4�2� � � � � � � � ����������� �47� �49� �4�� �4�� 164�2� � � � � � � � 3�������� 1�94"2� 16472� 1�9452� 15�4"2� 5"4�� � � � � � � � ��$������%�&�� �947� �94"� 5645� ��4�� 188452� In 2008, certain shared service, IT and other costs that were treated as central costs in 2007 are being charged to the business that benefit from them. In H1 these costs totalled £3.7m and have principally been recharged to TWS £0.8m, Pest Control £1.3m, Facilities Services £1.1m and Asia Pacific £0.2m. Comparative figures have not been restated. 5

. :���;��;*�����������������$������%�3&� � � !� � � � ������"� ��847� � � Changes�due�to <� � � � • City�Link� � (52.0)� • Australia�Pest�Control�&�Washrooms� � (4.2)� • UK�Washroom� (1) � � (3.7)� • UK�Pest�Control� (2) � � (2.3)� • France�Textiles/Washrooms� � (1.5)� • Benelux�Textiles/Washrooms� � (1.1)� • Central�Costs� (3) � � 1.4� • Other�businesses�in�total� � 0.4� �������� � 7�47� (1) Excluding Wipers: £0.8m additional central costs recharged in 2008 (2) Of which £0.5m is additional central cost recharged in 2008 (3) Of which £3.7m is the benefit of additional central costs recharged to divisions in 2008 6

. ���*�+��, � � ������ � � )�� � )�� � ��� !� !� !� � Revenue� 95.2� 96.1� 191.3� � Recurring�Costs� (101.5)� (106.4)� (207.9)� � Non.recurring�costs� (1) � (9.1)� (2.2)� (11.3)� � ��$������%�3&�� 1�8492� 1��482� 1�"462� � One.off�items� (2) � (1.5)� .� (1.5)� � %�3&�� 1�7462� 1��482� 1�6492� � Change�in�network�revenue�(%)� (10.6)%� (7.0)%� (8.8)%� � Change�in�RPC�(%)� (2.5)%� (2.1)%� (2.3)%� (1) Comprising Q1: asset write-downs and additional provisions for bad debts, service credits and transit liability claims Q2: franchisee receivable write-off and additional leasehold depreciation (2) Comprising Q1: redundancy and asset write-downs associated with depot integration 7

. ���*�+��,�= :���;��;*��������������������,���/���� 260 N etw ork Reven ue 240 £m Jun-07 Y TD 212.3 220 Prior Y ear Lost (29.0) 200 N ew business 11.7 180 Lost business (11.8) £ M N et W in 08 (0.1) 160 U ptrade 52.5 140 D ow ntrade (42.1) N et U ptrade 08 10.4 120 193.6 Jun-08 Y TD 100 80 2007 N etwork Prior Y ear Los t N ew B us ines s Los t B us ines s U ptrade D owntrade 2008 N etwork R evenue R evenue 8

. ���*�+��,�= >�!0�����������!����������� 35,000 No. of trading customers per reporting period 30,000 H1 2008 H2 2007 25,000 20,000 15,000 10,000 7 7 7 7 7 7 7 8 8 8 8 8 8 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 / / / / / / / / / / / / / / 6 7 8 9 0 1 2 1 2 3 4 5 6 7 0 0 0 0 1 1 1 0 0 0 0 0 0 0 9

. ���*�+��,�; ��!0�����-��,�*�>�����,���/���� City Link - Combined Network Revenue (13 Week MA) 9.5 Q1 Q2 Q3 Q4 9.0 8.5 Weekly Revenue £ M 8.0 7.5 AUGUST BANK MAY BANK HOLIDAY HOLIDAY 7.0 EASTER 6.5 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 / / / / / / / / / / / / / / / / / / / / / / / / / / 1 1 2 2 2 3 3 4 4 5 5 6 6 7 7 8 8 8 9 9 0 0 1 1 2 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 1 / / / / / / / / / / / / / / / / / / / / / / / / / / 4 8 1 5 9 4 8 1 5 9 3 6 0 4 8 1 5 9 2 6 0 4 7 1 5 9 0 1 0 1 2 1 2 1 2 0 2 0 2 0 1 0 1 2 1 2 1 2 0 2 0 1 2006 2007 2008 10