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.