PLC | Investors

Five year record

The statistics below reflect the latest published information. For financial years prior to 2021, these statistics represent the comparatives from the following years’ financial statements, except statistics for 2018 which have been restated for IFRS 15 ‘Revenue from contracts with customers’ and statistics for 2019 which have been restated for IFRS 16 ‘Leases’. In addition, during 2021, the Group disposed of its operations in Asia and agreed to dispose of its operations in Poland, which were treated as discontinued in 2021. The 2020 statistics have been restated to be consistent with 2021 to present Asia and Poland as discontinued operations, with years prior to 2020 not restated.

During the 2018 financial year, the Group reassessed its reportable segments and determined that the retailing and associated activities previously disclosed within the International segment should be disaggregated into the Central Europe and Asia segments. Following the presentation of the Group’s operations in Asia as discontinued operations, the Group no longer presents Asia as a separate reportable segment in 2021, with 2020 segment statistics restated and years prior to 2020 not restated. The Group redefined profit APMs during 2019 to exclude the amortisation of acquired intangibles. Historical data for the redefined measures have not been restated as the impact is not considered material. Refer to Note 1 and the Glossary for a full list of APMs and their definitions, as well as changes to APMs.

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  2017 2018 2019 2020
(restated(a)(b)(c)(d))
2021(a)(b)(c)
Financial statistics (£m)          
SalesΔ          
UK & ROI 37,692 38,656 44,883 45,752 48,848
Central Europe 5,977 6,343 6,030 3,968 3,862
Asia 5,186 4,947 4,873 - -
Tesco Bank 1,012 1,047 1,097 1,068 735
Group sales(f) 49,867 50,993 56,883 50,788 53,445
Revenue          
UK & ROI 43,524 44,914 51,643 52,898 53,170
Central Europe 6,195 6,585 6,298 4,125 3,982
Asia 5,186 4,947 4,873 - -
Tesco Bank 1,012 1,047 1,097 1,068 735
Group revenue 55,917 57,493 63,911 58,091 57,887
Operating profit/(loss) before exceptional items and amortisation of acquired intangiblesΔ(f)          
UK & ROI 803 1,059 1,868 2,202 1,866
Central Europe 58 119 221 176 124
Asia 262 299 319 - -
Tesco Bank 157 169 199 193 (175)
Group operating profit/(loss) before exceptional items and amortisation of acquired intangiblesΔ(f) 1,280 1,646 2,607 2,571 1,815
Operating profit margin before exceptional items and amortisation of acquired intangiblesΔ 2.3% 2.9% 4.1% 4.4% 3.1%
Operating profit/(loss)          
UK & ROI 519 1,205 1,949 1,923 2,079
Central Europe 190 212 279 209 127
Asia 231 277 252 - -
Tesco Bank 77 145 169 74 (470)
Group operating profit/(loss) 1,017 1,839 2,649 2,206 1,736
Share of post-tax profits/(losses) of joint ventures and associates (107) (6) 32 (8) 26
Net finance costs (765) (533) (1,064) (1,170) (937)
Profit/(loss) before tax 145 1,300 1,617 1,028 825
Taxation (87) (306) (347) (290) (104)
Profit/(loss) for the year from continuing operations 58 994 1,270 738 721
Discontinued operations (112) 216 - 235 5,426
Profit/(loss) for the year (54) 1,210 1,270 973 6,147
Attributable to:          
Owners of the parent (40) 1,208 1,272 971 6,143
Non-controlling interests (14) 2 (2) 2 4
Profit before tax, exceptional items and amortisation of acquired intangibles, net pension finance costs and fair value remeasurements of financial instrumentsΔ(f) 781 1,284 1,806 1,869 1,161
Other financial statistics          
Diluted earnings/(losses) per share – continuing operations 0.81p 12.11p 13.04p 7.54p 7.54p
Diluted earnings per share – continuing operations before exceptional items and amortisation of acquired intangibles, net pension finance costs and fair value remeasurements of financial instrumentsΔ(f) 7.30p 11.90p 14.01p 15.02p 9.52p
Diluted EPS before exceptional and other items (adjusted for share consolidation)∆(f)(g) - -   18.98p 11.94p
Dividend per share(e) - 3.00p 5.77p 9.15p 9.15p
Cash generated from retail operating activities (£m)Δ 2,278 2,773 3,637 3,580 1,162
Free cash flow (£m)Δ 1,288 1,388 889 1,493 1.187
Return on capital employed (ROCE)(f) 8.1% 11.0% 7.9% 6.1% 6.2%
Total shareholder return(f) (7.5%) 8.7% 10.2% 5.2% 2.6%
Net debt (£m)Δ(f) 3,279 2,625 13,204 12,298 11,955
Discounted operating lease commitments - continuing operations 7,440 6,931 - - -
Pension deficit, net of deferred tax – Group (£m) 5,504 2,728 2,338 2,573 1,004
Total indebtedness (£m)Δ(f) 16,673 12,284 15,542 14,871 12,959
Enterprise value (£m)(f) 19,262 19,452 35,024 34,676 29,336
           
Group retail statistics          
Number of stores(h) 6,809 7,033 6,993 4,613 4,673
Total sales area (’000 sq. ft.)(h) 89,041 92,983 91,298 63,971 63,980
Average employees 464,520 448,988 464,505 354,451 367,321
Average full-time equivalent employees (FTE) 342,770 327,916 321,490 243,031 242,911
           
UK & ROI Retail statistics          
Number of stores(h) 3,739 3,952 3,961 3,968 4,008
Total sales area (’000 sq. ft.)(h) 43,610 42,032 50,521 50,401 50,443
Average full-time equivalent employees (FTE) 218,522 210,312 223,542 210,771 214,470
Revenue (exc. fuel) (per FTE – £) 172,486 183,804 200,781 217,070 227,761
Weekly revenue (exc. fuel) (per sq. ft. – £) 16.31 17.36 18.65 17.11 18.63

 

Δ2020 APM reconciliations in Glossary section on pages 164 to 169.

(a) Prepared on an IFRS 15 basis.

(b) Prepared on an IFRS 9 basis.

(c) Prepared on an IFRS 16 basis

(d) 53 weeks

(e) Dividend per share relating to the interim and proposed final dividend.

(f) See Glossary for definitions.

(g) Diluted EPS before exceptional and other items (adjusted for share consolidation) is provided to aid comparability, as the sale of our businesses in Thailand and Malaysia, and the share consolidation and special dividend which followed, distort our financial result in the year. As such, this metric is presented on a basis other than in accordance with IAS 33 and captures the full impact of the share consolidation as if it had taken place at the start of the 2019/20 financial year. Please see page 210 for a reconciliation to diluted adjusted EPS

(h) Including franchise stores.