Five year record
Figures below reflect the latest published information. For financial years prior to 2019, these figures represent the comparatives from the following years’ financial statements. During 2017, the Group decided to sell its operations in Turkey. Accordingly, these operations were treated as discontinued in 2017. The 2016 statistics have been re-presented to be consistent with 2017. Prior years have not been re-presented. Korea was first classified as a discontinued operation in 2015/16. China was first classified as a discontinued operation in 2013/14.
The Group has determined new segments and defined new non-GAAP measures for 2015/16 onwards. Refer to Note 1 and Note 2. 2014/15 data for these new measures and segments has been presented, but prior historic data has not.
In 2018, the Group reassessed its reportable segments and determined that the retailing and associated activities previously disclosed within the International segment should be segregated between the Central Europe and Asia segments. Refer to Note 2. The Group had also determined new segments and defined new APMs during 2016. Historical data up to 2015 data for these new measures and segments has been presented, but prior historic data has not. The Group determined new APMs during 2019 and historical data for the new measures have not been restated as the impact is not considered material. Refer to Note 1 and the Glossary.
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| 2015(a) | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Financial statistics (£m) | |||||
| Sales | |||||
| UK & ROI | 38,228 | 37,189 | 37,692 | 38,656 | 44,883 |
| Central Europe | 6,186 | 5,268 | 5,977 | 6,343 | 6,030 |
| Asia | 4,492 | 4,447 | 5,186 | 4,947 | 4,873 |
| Tesco Bank | 947 | 955 | 1,012 | 1,047 | 1,097 |
| Group sales(c) | 49,853 | 47,859 | 49,867 | 50,993 | 56,883 |
| Revenue | |||||
| UK & ROI | 45,062 | 43,080 | 43,524 | 44,914 | 51,643 |
| Central Europe | 6,424 | 5,451 | 6,195 | 6,585 | 6,298 |
| Asia | 4,492 | 4,447 | 5,186 | 4,947 | 4,873 |
| Tesco Bank | 947 | 955 | 1,012 | 1,047 | 1,097 |
| Group revenue | 56,925 | 53,933 | 55,917 | 57,493 | 63,911 |
| Operating profit/(loss) before exceptional items and amortisation of acquired intangibles(c) | |||||
| UK & ROI | 498 | 503 | 803 | 1,059 | 1,537 |
| Central Europe | (4) | 102 | 58 | 119 | 186 |
| Asia | 258 | 218 | 262 | 299 | 286 |
| Tesco Bank | 188 | 162 | 157 | 169 | 197 |
| Group operating profit/(loss) before exceptional items and amortisation of acquired intangibles(c) | 940 | 985 | 1,280 | 1,646 | 2,206 |
| Operating profit margin before exceptional items and amortisation of acquired intangibles | 1.7% | 1.8% | 2.3% | 2.9% | 3.5% |
| Operating profit/(loss) | |||||
| UK & ROI | (5,334) | 597 | 519 | 1,205 | 1,535 |
| Central Europe | (666) | 111 | 190 | 212 | 232 |
| Asia | 97 | 203 | 231 | 277 | 219 |
| Tesco Bank | 153 | 161 | 77 | 145 | 167 |
| Group operating profit/(loss) | (5,750) | 1,072 | 1,017 | 1,839 | 2,153 |
| Share of post-tax profits/(losses) of joint ventures and associates | (13) | (21) | (107) | (6) | 35 |
| Net finance costs | (571) | (849) | (765) | (533) | (514) |
| Profit/(loss) before tax | (6,334) | 202 | 145 | 1,300 | 1,674 |
| Taxation | 670 | 54 | (87) | (306) | (354) |
| Profit/(loss) for the year from continuing operations | (5,664) | 256 | 58 | 994 | 1,320 |
| Discontinued operations | (102) | (127) | (112) | 216 | – |
| Profit/(loss) for the year | (5,766) | 129 | (54) | 1,210 | 1,320 |
| Attributable to: | |||||
| Owners of the parent | (5,741) | 138 | (40) | 1,208 | 1,322 |
| Non-controlling interests | (25) | (9) | (14) | 2 | (2) |
| Profit before tax, exceptional items and amortisation of acquired intangibles, net pension finance costs and fair value remeasurements on financial instruments(c) | 516 | 509 | 781 | 1,284 | 1,958 |
| Other financial statistics | |||||
| Diluted earnings/(losses) per share – continuing operations | (69.56)p | 3.22p | 0.81p | 12.11p | 13.55p |
| Diluted earnings per share – continuing operations before exceptional items and amortisation of acquired intangibles, net pension finance costs and fair value remeasurements on financial instruments(c) |
5.70p | 5.79p | 7.30p | 11.90p | 15.40p |
| Dividend per share(b) | 1.16p | – | – | 3.00p | 3.67p |
| Cash generated from retail operating activities (£m) | 1,860 | 2,581 | 2,278 | 2,773 | 2,502 |
| APM: Free cash flow (£m) | (716) | 1,482 | 1,288 | 1,388 | 906 |
| Return on capital employed (ROCE)(c) | 4.0% | 6.2% | 8.1% | 11.0% | 11.1% |
| Total shareholder return(c) | (9.5)% | (11.8)% | (7.5)% | 8.7% | 10.2% |
| Net debt (£m)(c) | 8,481 | 5,110 | 3,729 | 2,625 | 2,863 |
| Discounted operating lease commitments – continuing operations (£m) | 9,353 | 7,814 | 7,440 | 6,931 | 6,999 |
| Pension deficit, net of deferred tax – Group (£m) | 3,885 | 2,612 | 5,504 | 2,728 | 2,338 |
| Total indebtedness (£m)(c) | 21,719 | 15,536 | 16,673 | 12,284 | 12,200 |
| Enterprise value (£m)(c) | 28,415 | 20,101 | 19,262 | 19,452 | 24,683 |
| Group retail statistics | |||||
| Number of stores(d) | 6,849 | 6,733 | 6,809 | 7,033 | 6,993 |
| Total sales area (’000 sq. ft.)(d) | 95,811 | 91,195 | 89,041 | 92,983 | 91,298 |
| Average employees | 480,607 | 475,399 | 464,520 | 448,988 | 464,505 |
| Average full-time equivalent employees (FTE) | 362,370 | 351,289 | 342,770 | 327,916 | 321,490 |
| UK & ROI Retail statistics | |||||
| Number of stores(d) | 3,710 | 3,743 | 3,739 | 3,952 | 3,961 |
| Total sales area (’000 sq. ft.)(d) | 45,946 | 45,253 | 43,610 | 42,032 | 50,521 |
| Average full-time equivalent employees (FTE) | 225,192 | 225,378 | 218,522 | 210,312 | 223,542 |
| Revenue (exc. fuel) (per FTE – £) | 169,757 | 165,007 | 172,486 | 183,804 | 200,781 |
| Weekly revenue (exc. fuel) (per sq. ft. – £) | 15.81 | 15.68 | 16.31 | 17.36 | 18.65 |
(a) 53 weeks.
(b) Dividend per share relating to the interim and proposed final dividend.
(c) See glossary for definitions.
(d) Including franchise stores.