Five year record
The statistics below reflect the latest published information. For financial years prior to 2020, these figures represent the comparatives from the following years’ financial statements, except figures for 2019 and 2018 which have been restated for IFRS 16 ‘Leases’ and IFRS 15 ‘Revenue from contracts with customers’ respectively (see below). 2018 figures have not been restated for IFRS 16. Korea was first classified as a discontinued operation during the 2016 financial year, and Turkey during 2017. In respect of the discontinued operation in Turkey, 2016 statistics have been re-presented to be consistent with 2017.
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. Refer to Note 2. 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. The Group adopted IFRS 9 ‘Financial instruments’ and IFRS 15 during the 2019 financial year, neither of which had a material impact on the Group’s performance. The financial data for the 2018 financial year has been restated for IFRS 15.
The Group adopted IFRS 16 during the 2020 financial year. Refer to Notes 1 and 37 for details. Figures for 2019 have been restated but prior historical data has not. 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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| 2016 | 2017 | 2018 (restated)(a) |
2019 (restated)(b) |
2020(c) | |
| Financial statistics (£m) | |||||
| SalesΔ | |||||
| UK & ROI | 37,189 | 37,692 | 38,656 | 44,883 | 45,752 |
| Central Europe | 5,268 | 5,977 | 6,343 | 6,030 | 5,332 |
| Asia | 4,447 | 5,186 | 4,947 | 4,873 | 5,218 |
| Tesco Bank | 955 | 1,012 | 1,047 | 1,097 | 1,068 |
| Group sales(e) | 47,859 | 49,867 | 50,993 | 56,883 | 57,370 |
| Revenue | |||||
| UK & ROI | 43,080 | 43,524 | 44,914 | 51,643 | 52,898 |
| Central Europe | 5,451 | 6,195 | 6,585 | 6,298 | 5,576 |
| Asia | 4,447 | 5,186 | 4,947 | 4,873 | 5,218 |
| Tesco Bank | 955 | 1,012 | 1,047 | 1,097 | 1,068 |
| Group revenue | 53,933 | 55,917 | 57,493 | 63,911 | 64,760 |
| Operating profit/(loss) before exceptional items and amortisation of acquired intangiblesΔ(e) | |||||
| UK & ROI | 503 | 803 | 1,059 | 1,868 | 2,230 |
| Central Europe | 102 | 58 | 119 | 221 | 156 |
| Asia | 218 | 262 | 299 | 319 | 426 |
| Tesco Bank | 162 | 157 | 169 | 199 | 193 |
| Group operating profit/(loss) before exceptional items and amortisation of acquired intangiblesΔ(e) | 985 | 1,280 | 1,646 | 2,607 | 3,005 |
| Operating profit margin before exceptional items and amortisation of acquired intangiblesΔ | 1.8% | 2.3% | 2.9% | 4.1% | 4.6% |
| Operating profit/(loss) | |||||
| UK & ROI | 597 | 519 | 1,205 | 1,949 | 1,944 |
| Central Europe | 111 | 190 | 212 | 279 | 85 |
| Asia | 203 | 231 | 277 | 252 | 415 |
| Tesco Bank | 161 | 77 | 145 | 169 | 74 |
| Group operating profit/(loss) | 1,072 | 1,017 | 1,839 | 2,649 | 2,518 |
| Share of post-tax profits/(losses) of joint ventures and associates | (21) | (107) | (6) | 32 | 18 |
| Net finance costs | (849) | (765) | (533) | (1,064) | (1,221) |
| Profit/(loss) before tax | 202 | 145 | 1,300 | 1,617 | 1,315 |
| Taxation | 54 | (87) | (306) | (347) | (380) |
| Profit/(loss) for the year from continuing operations | 256 | 58 | 994 | 1,270 | 935 |
| Discontinued operations | (127) | (112) | 216 | - | 38 |
| Profit/(loss) for the year | 129 | (54) | 1,210 | 1,270 | 973 |
| Attributable to: | |||||
| Owners of the parent | 138 | (40) | 1,208 | 1,272 | 971 |
| Non-controlling interests | (9) | (14) | 2 | (2) | 2 |
| Profit before tax, exceptional items and amortisation of acquired intangibles, net pension finance costs and fair value remeasurements of financial instrumentsΔ(e) | 509 | 781 | 1,284 | 1,806 | 2,276 |
| Other financial statistics | |||||
| Diluted earnings/(losses) per share – continuing operations | 3.22p | 0.81p | 12.11p | 13.04p | 9.54p |
| 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(e) | 5.79p | 7.30p | 11.90p | 14.01p | 18.23p |
| Dividend per share(d) | - | - | 3.00p | 5.77p | 9.15p |
| Cash generated from retail operating activities (£m)Δ | 2,581 | 2,278 | 2,773 | 3,637 | 4,241 |
| Free cash flow (£m)Δ | 1,482 | 1,288 | 1,388 | 889 | 1,866 |
| Return on capital employed (ROCE)(e) | 6.2% | 8.1% | 11.0% | 7.9% | 9.1% |
| Total shareholder return(e) | (11.8%) | (7.5%) | 8.7% | 10.2% | 5.2% |
| Net debt (£m)Δ(e) | 5,110 | 3,729 | 2,625 | 13,204 | 12,298 |
| Discounted operating lease commitments - continuing operations | 7,814 | 7,440 | 6,931 | - | - |
| Pension deficit, net of deferred tax – Group (£m) | 2,612 | 5,504 | 2,728 | 2,338 | 2,573 |
| Total indebtedness (£m)Δ(e) | 15,536 | 16,673 | 12,284 | 15,542 | 14,871 |
| Enterprise value (£m)(e) | 20,101 | 19,262 | 19,452 | 35,024 | 34,676 |
| Group retail statistics | |||||
| Number of stores(f) | 6,733 | 6,809 | 7,033 | 6,993 | 7,005 |
| Total sales area (’000 sq. ft.)(f) | 91,195 | 89,041 | 92,983 | 91,298 | 87,552 |
| Average employees | 475,399 | 464,520 | 448,988 | 464,505 | 423,092 |
| Average full-time equivalent employees (FTE) | 351,289 | 342,770 | 327,916 | 321,490 | 293,963 |
| UK & ROI Retail statistics | |||||
| Number of stores(f) | 3,743 | 3,739 | 3,952 | 3,961 | 3,968 |
| Total sales area (’000 sq. ft.)(f) | 45,253 | 43,610 | 42,032 | 50,521 | 50,401 |
| Average full-time equivalent employees (FTE) | 225,378 | 218,522 | 210,312 | 223,542 | 210,768 |
| Revenue (exc. fuel) (per FTE – £) | 165,007 | 172,486 | 183,804 | 200,781 | 217,073 |
| Weekly revenue (exc. fuel) (per sq. ft. – £) | 15.68 | 16.31 | 17.36 | 18.65 | 17.11 |
(a) Restated for IFRS 15, excludes Booker.
(b) Restated for IFRS 16.
(c) 53 weeks.
(d) Dividend per share relating to the interim and proposed final dividend.
(e) See Glossary for definitions.
(f) Including franchise stores.