Actualización comercial del segundo trimestre
Arquero Daniels Midland Co.
n / a
18:45 03/05/24
18 de abril de 2024
PLC INICIAL RENTOKIL
ACTUALIZACIÓN DE TRADING DEL PRIMER TRIMESTRE
POSITIVE OVERALL START
Rentokil Initial plc ("the Group"), today issues a Trading Update for the first three months of the 2024 financial year covering the period 1 January 2024 to 31 March 2024.
| AER1 | CER | ||||
| Q1 2024 £ m | Q1 2023 £ m | Cambios % | Q1 2024 £ m | Q1 2023 £ m | Cambios % |
Ingresos
|
1,270 |
1,259 |
0.9% |
1,294 |
1,233 |
4.9% |
Unless otherwise stated, figures related to the first quarter and are stated at constant exchange rates.
Andy Ransom, director ejecutivo de Rentokil Initial plc, dijo:
"We have made a positive overall start to 2024. The Group has performed well and our RIGHT WAY 2 plan has delivered a stabilising performance in North America. With the key trading period for the business ahead of us, we remain confident in delivering on our guidance of 2-4% Organic Revenue growth in the region.
"As the year proceeds, we look forward to continued progress, driven by our focus on North America growth and the Terminix integration plan, which is in the advanced stages of preparation for the first full branch integrations commencing mid-year."
· Group Revenue up 4.9%, of which 3.1% was Organic Revenue growth. Continued pricing momentum.
· North America growth performance has stabilised with Organic Revenue up 1.5%. Early initiatives of RIGHT WAY 2 growth plan underway.
- Organic Revenue in Pest Control overall up 1.5% and Pest Control services for commercial, residential and termite customers up 1.0%.
- Inbound digital lead flow performance was similar to Q4, with an improvement in lead quality, which had a positive impact on our sales conversion and return on marketing spend. We are encouraged by increased lead flows in the first two weeks of April.
- Technician sales leads participation rates improved by 8ppts from February to March.
- Customer retention was stable at 79.5%, and our pricing activities were successful in passing cost inflation to our customers.
- North America colleague retention increased further to 76.7% (31 December 2023: 75.2%), with the largest improvement in sales colleague roles (up 2.7ppts to 69.1%). We launched a new compensation plan for our new Terminix sales colleagues to support the continued improvement in sales colleague retention.
- New 'Terminix It' multi-channel advertising and marketing campaign launched in late Q1 to build brand awareness and preference with key customer segments, and set to ramp up in the peak season.
· Good momentum in Organic Revenue growth was sustained in all other regions: +6.2% in Europe inc. LATAM, the Group's second largest region; +4.1% in UK & Sub Saharan Africa; +4.3% in Asia & MENAT; and +7.3% in Pacific.
· Organic Revenue growth across all categories: Pest Control up 2.7%, Hygiene & Wellbeing up 3.8%, and France Workwear up 7.7%.
· Terminix integration plan saw further progress towards full branch integration starting mid-year.
- Completion of the merger of the Rentokil and Terminix legal entities into Rentokil North America, Inc. with all employees, customers and suppliers now contracted to the same legal entity. The legal combination is a critical enabler of future integration activities, which will allow for shared use of resources and the harmonisation of operating standards and pay plans.
- Go live of the new combined general ledger and internal reporting systems, facilitating integrated performance management, and continued progress on the development of the operational technology stack.
· The Group's bolt-on M&A programme continued to create value with 8 deals, delivering annualised revenue in the year before acquisition of £45m. This includes the acquisition of HiCare Services Private Limited, the second largest pest control company in India. We remain confident in our targeted spend of c.£250m in 2024.
· The Group is on track to deliver on expectations for FY 2024, including 2-4% Organic Revenue growth in North America, accompanied by modest margin progression, which we continue to expect to be weighted towards H2.
Resumen de desempeño financiero (en CER)
Desempeño Regional
Ingresos |
Crecimiento orgánico de los ingresos
| |||
T1 2024 £ m | T1 2023 £ m |
Cambios % | Q1 2024 % | |
|
|
|
| |
Norteamérica | 761 | 743 | 2.3 | 1.5 |
Control de plagas | 739 | 721 | 2.4 | 1.5 |
Higiene y Bienestar | 22 | 22 | 0.8 | 0.6 |
|
|
|
| |
Europe (inc LATAM) | 274 | 256 | 7.4 | 6.2 |
Control de plagas | 130 | 120 | 8.6 | 6.5 |
Higiene y Bienestar | 87 | 83 | 5.5 | 4.7 |
Ropa de trabajo de Francia | 57 | 53 | 7.7 | 7.7 |
|
|
|
| |
Reino Unido y África subsahariana | 103 | 92 | 12.3 | 4.1 |
Control de plagas | 50 | 48 | 4.1 | 4.1 |
Higiene y Bienestar | 53 | 44 | 21.2 | 4.1 |
|
|
|
| |
Asia y MENAT | 86 | 81 | 5.7 | 4.3 |
Control de plagas | 63 | 59 | 6.7 | 5.4 |
Higiene y Bienestar | 23 | 22 | 3.2 | 1.4 |
|
|
|
| |
Costa | 67 | 58 | 14.4 | 7.3 |
Control de plagas | 34 | 28 | 20.1 | 9.9 |
Higiene y Bienestar | 33 | 30 | 9.1 | 5.0 |
|
|
|
| |
Central | 3 | 3 | (0.3) | (0.3) |
Total en CER | 1,294 | 1,233 | 4.9 | 3.1 |
Total en AER | 1,270 | 1,259 | 0.9 |
|
Rendimiento de la categoría
Ingresos |
Crecimiento orgánico de los ingresos | |||
T1 2024 £ m | T1 2023 £ m |
Cambios % | Q1 2024 % | |
|
|
|
| |
Control de plagas | 1,016 | 976 | 4.0 | 2.7 |
Higiene y Bienestar | 218 | 201 | 8.7 | 3.8 |
Ropa de trabajo de Francia | 57 | 53 | 7.7 | 7.7 |
Central | 3 | 3 | (0.3) | (0.3) |
Total en CER | 1,294 | 1,233 | 4.9 | 3.1 |
Total en AER | 1,270 | 1,259 | 0.9 |
|
The Company will host a webcast and teleconference at 9:30 a.m. BST to discuss the results. The audio webcast and accompanying presentation materials will be accessible via the IR section of the Company's website (www.rentokil-initial.com/investors). To ask questions, please join via the teleconference with conference ID 1097846 on one of the dial-in options below, with additional international access numbers found at https://registrations.events/directory/international/itfs.html. A replay will be available on the Company website after the call.
Reino Unido: + 44 20 3481 4247
Estados Unidos: +1 (646) 307 1963
Rentokil Initial intends to publish its 2024 Interim Results on 25 July 2024.
Consultas:
Investors / Analysts: Peter Russell, Rentokil Initial plc, + 44 7795 166506
Media: Malcolm Padley, Rentokil Initial plc, +44 7788 978199
Notas
1AER - tipos de cambio reales; CER - tipos de cambio constantes de 2023
Declaración de precaución
Para utilizar las disposiciones de "puerto seguro" de los EE. Ley de Reforma de Litigios sobre Valores Privados de 1995 (la "PSLRA") y la doctrina general de las declaraciones de advertencia, Rentokil Initial plc ("la Compañía") proporciona la siguiente declaración de advertencia: Este comunicado contiene declaraciones prospectivas dentro del significado de la PSLRA . Forward-looking statements can sometimes, but not always, be identified by the use of forward-looking terms such as "believes," "expects," "may," "will," "shall," "should," "would," "could," "potential," "seeks," "aims," "projects," "predicts," "is optimistic," "intends," "plans," "estimates," "targets," "anticipates," "continues" or other comparable terms or negatives of these terms and include statements regarding Rentokil Initial's intentions, beliefs or current expectations concerning, amongst other things, the results of operations of the Company and its consolidated entities ("Rentokil Initial" or "the Group), financial condition, liquidity, prospects, growth, strategies and the economic and business circumstances occurring from time to time in the countries and markets in which Rentokil Initial operates. Las declaraciones prospectivas se basan en planes, estimaciones y expectativas actuales que están sujetas a riesgos, incertidumbres y suposiciones. Si uno o más de estos riesgos o incertidumbres se materializaran, o si las suposiciones subyacentes resultaran incorrectas, los resultados reales pueden variar materialmente de los indicados o anticipados por dichas declaraciones prospectivas. La Compañía no puede garantizar que dichos planes, estimaciones o expectativas se lograrán y, por lo tanto, los resultados reales pueden diferir materialmente de cualquier plan, estimación o expectativa en dichas declaraciones prospectivas. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include: the Group's ability to integrate acquisitions successfully, or any unexpected costs or liabilities from the Group's disposals; difficulties in integrating, streamlining and optimising the Group's IT systems, processes and technologies; the availability of a suitably skilled and qualified labour force to maintain the Group's business; the Group's ability to attract, retain and develop key personnel to lead the business; the impact of environmental, social and governance ("ESG") matters, including those related to climate change and sustainability, on the Group's business, reputation, results of operations, financial condition and/or prospects; inflationary pressures, such as increases in wages, fuel prices and other operating costs; supply chain issues, which may result in product shortages or other disruptions to the Group's business; weakening general economic conditions, including changes in the global job market, or decreased consumer confidence or spending levels especially as they may affect demand from the Group's customers; the Group's ability to implement its business strategies successfully, including achieving its growth objectives; the Group's ability to retain existing customers and attract new customers; the highly competitive nature of the Group's industries; cyber security breaches, attacks and other similar incidents, as well as disruptions or failures in the Group's IT systems or data security procedures and those of its third-party service providers; extraordinary events that impact the Group's ability to service customers without interruption, including a loss of its third-party distributors; the Group's ability to protect its intellectual property and other proprietary rights that are material to the Group's business; the Group's reliance on third parties, including third-party vendors for business process outsourcing initiatives, investment counterparties, and franchisees, and the risk of any termination or disruption of such relationships or counterparty default or litigation; the identification of material weaknesses in the Group's internal control over financial reporting within the meaning of Section 404 of the Sarbanes-Oxley Act; any future impairment charges, asset revaluations or downgrades; failure to comply with the many laws and governmental regulations to which the Group is subject or the implementation of any new or revised laws or regulations that alter the environment in which the Group does business, as well as the costs to the Group of complying with any such changes; termite damage claims and lawsuits related thereto and any associated impacts on the termite provision; the Group's ability to comply with safety, health and environmental policies, laws and regulations, including laws pertaining to the use of pesticides; any actual or perceived failure to comply with stringent, complex and evolving laws, rules, regulations and standards in many jurisdictions, as well as contractual obligations, including data privacy and security; changes in tax laws and any unanticipated tax liabilities; adverse credit and financial market events and conditions, which could, among other things, impede access to or increase the cost of financing; the restrictions and limitations within the agreements and instruments governing our indebtedness; a lowering or withdrawal of the ratings, outlook or watch assigned to the Group's debt securities by rating agencies; an increase in interest rates and the resulting increase in the cost of servicing the Group's debt; and exchange rate fluctuations and the impact on the Group's results or the foreign currency value of the Company's ADSs and any dividends. La lista de factores que se presenta aquí es representativa y no debe considerarse como una declaración completa de todos los posibles riesgos e incertidumbres. Los factores no enumerados pueden presentar importantes obstáculos adicionales para la realización de declaraciones prospectivas. La Compañía le advierte que no confíe indebidamente en ninguna de estas declaraciones prospectivas, ya que no son garantías de rendimiento o resultados futuros y que el rendimiento y los resultados reales, incluidos, entre otros, los resultados reales de las operaciones, la situación financiera y la liquidez del Grupo. , y el desarrollo de nuevos mercados o segmentos de mercado en los que opera el Grupo, pueden diferir materialmente de las realizadas o sugeridas por las declaraciones prospectivas contenidas en este comunicado.
Additional information concerning these and other factors can be found in Rentokil Initial's filings with the U.S. Securities and Exchange Commission ("SEC"), which may be obtained free of charge at the SEC's website, http:// www.sec.gov, and Rentokil Initial's Annual Reports, which may be obtained free of charge from the Rentokil Initial website, https://www.rentokil-initial.com
No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings per share of Rentokil Initial for the current or future financial years would necessarily match or exceed the historical published earnings per share of Rentokil Initial.
This communication presents certain further non-IFRS measures, which should not be viewed in isolation as alternatives to the equivalent IFRS measure, rather they should be viewed as complements to, and read in conjunction with, the equivalent IFRS measure. These include revenue and measures presented at actual exchange rates ("AER" - IFRS) and constant full year 2023 exchange rates ("CER" - Non-IFRS). Non-IFRS measures presented also include Organic Revenue. Definitions for these measures can be found in the Group's 2023 Annual Report on Page 63. The Group's internal strategic planning process is also based on these measures, and they are used for incentive purposes. These measures may not be calculated in the same way as similarly named measures reported by other companies.
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