Review the balance sheet and accounts data provided in the 'Materials', 'Part 2'. Analyse the financial performance
Fantastic news! We've Found the answer you've been seeking!
Question:
Review the balance sheet and accounts data provided in the 'Materials', 'Part 2'. Analyse the financial performance of the company and its ability to createe and capture value.
https://markets.ft.com/data/equities/tearsheet/summary?s=WTB:LSE
WHITBREAD GROUP PLC | ||||||||||
Global ratios | ||||||||||
3/3/2022 | 25/2/2021 | 27/2/2020 | 28/2/2019 | 1/3/2018 | 2/3/2017 | 3/3/2016 | 26/2/2015 | 27/2/2014 | 28/2/2013 | |
th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | |
12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | |
Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | |
IFRS | IFRS | IFRS | IFRS | IFRS | Local GAAP | IFRS | IFRS | IFRS | IFRS | |
Profitability ratios | ||||||||||
∟ ROE using P/L before tax (%) | 0.65 | -40.19 | 8.28 | 4.27 | 20.26 | 17.94 | 18.64 | 22.36 | 20.22 | 24.00 |
∟ ROCE using P/L before tax (%) | 3.09 | -12.28 | 6.29 | 4.16 | 15.11 | 13.26 | 13.53 | 14.86 | 14.10 | 14.22 |
∟ ROA using P/L before tax (%) | 0.19 | -11.77 | 3.70 | 3.36 | 11.63 | 10.35 | 10.64 | 12.12 | 10.24 | 10.64 |
∟ ROE using Net income (%) | 0.41 | -36.13 | 6.45 | 60.06 | 16.14 | 14.48 | 14.80 | 17.65 | 18.89 | 19.52 |
∟ ROCE using Net income (%) | 3.00 | -10.73 | 5.37 | 51.59 | 12.25 | 10.87 | 10.96 | 11.85 | 13.29 | 11.83 |
∟ ROA using Net income (%) | 0.12 | -10.58 | 2.89 | 47.26 | 9.26 | 8.35 | 8.45 | 9.57 | 9.57 | 8.65 |
∟ Profit margin (%) | 1.00 | n.s. | 13.99 | 12.95 | 17.31 | 17.03 | 16.94 | 17.76 | 14.94 | 16.63 |
∟ Gross margin (%) | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ EBITDA margin (%) | 30.30 | -70.52 | 26.05 | 28.27 | 24.99 | 24.92 | 24.88 | 25.71 | 48.24 | 25.04 |
∟ EBIT margin (%) | 12.46 | n.s. | 19.78 | 14.41 | 17.94 | 17.83 | 18.11 | 19.25 | 17.12 | 19.12 |
∟ Cash flow / Operating revenue (%) | 18.47 | -83.90 | 17.18 | n.s. | 20.83 | 20.82 | 20.22 | 20.48 | 45.08 | 19.45 |
∟ Enterprise value / EBITDA (x) | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Market cap / Cash flow from operations (x) | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Operational ratios | ||||||||||
∟ Net assets turnover (x) | 0.24 | 0.11 | 0.30 | 0.28 | 0.81 | 0.73 | 0.74 | 0.80 | 0.82 | 0.77 |
∟ Interest cover (x) | 1.06 | -4.06 | 2.80 | 7.57 | 14.01 | 14.73 | 12.85 | 26.85 | 7.90 | 10.79 |
∟ Stock turnover (x) | 94.47 | 62.12 | 150.11 | 141.32 | 67.52 | 64.44 | 62.03 | 68.28 | 75.22 | 72.55 |
∟ Collection period (days) | 9 | 11 | 51 | 10 | 22 | 11 | 11 | 29 | 10 | 0 |
∟ Credit period (days) | 367 | 754 | 29 | 14 | 72 | 19 | 18 | 63 | 17 | 0 |
∟ Export revenue / Operating revenue (%) | n.a. | n.a. | 0.96 | 0.59 | 3.81 | 3.90 | 3.40 | 3.39 | 3.60 | 3.16 |
∟ R&D expenses / Operating revenue (%) | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
Structure ratios | ||||||||||
∟ Current ratio (x) | 0.67 | 0.68 | 0.95 | 6.07 | 0.43 | 0.91 | 0.72 | 0.44 | 0.35 | 0.32 |
∟ Liquidity ratio (x) | 0.66 | 0.67 | 0.93 | 6.05 | 0.37 | 0.85 | 0.65 | 0.37 | 0.30 | 0.26 |
∟ Shareholders liquidity ratio (x) | 0.60 | 0.62 | 1.02 | 5.67 | 2.27 | 2.22 | 2.03 | 1.77 | 1.56 | 1.15 |
∟ Solvency ratio (Asset based) (%) | 29.57 | 29.28 | 44.76 | 78.69 | 57.41 | 57.70 | 57.08 | 54.21 | 50.64 | 44.33 |
∟ Solvency ratio (Liability based) (%) | 41.99 | 41.40 | 81.04 | n.s. | n.s. | n.s. | n.s. | n.s. | n.s. | 79.63 |
∟ Gearing (%) | 171.57 | 179.22 | 107.57 | 17.73 | 47.86 | 50.37 | 52.97 | 60.33 | 69.92 | 87.67 |
Per employee ratios | ||||||||||
∟ Profit per employee (th) | 1 | -32 | 8 | 7 | 11 | 13 | 12 | 12 | 9 | 10 |
∟ Operating revenue per employee (th) | 53 | 23 | 57 | 58 | 63 | 74 | 71 | 67 | 63 | 60 |
∟ Costs of employees / Operating revenue (%) | 36.96 | 77.23 | 29.52 | 28.69 | 25.40 | 25.52 | 25.20 | 25.58 | 26.45 | 26.59 |
∟ Average cost of employee (th) | 20 | 18 | 17 | 17 | 16 | 19 | 18 | 17 | 17 | 16 |
∟ Shareholders funds per employee (th) | 82 | 79 | 97 | 175 | 53 | 70 | 64 | 53 | 47 | 42 |
∟ Working capital per employee (th) | -52 | -47 | 4 | 0 | -8 | -1 | 0 | -5 | 0 | 1 |
∟ Total assets per employee (th) | 279 | 271 | 217 | 223 | 93 | 122 | 113 | 98 | 92 | 94 |
WHITBREAD GROUP PLC | ||||||||||
Profit & loss account | ||||||||||
3/3/2022 | 25/2/2021 | 27/2/2020 | 28/2/2019 | 1/3/2018 | 2/3/2017 | 3/3/2016 | 26/2/2015 | 27/2/2014 | 28/2/2013 | |
th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | |
12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | |
Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | |
IFRS | IFRS | IFRS | IFRS | IFRS | Local GAAP | IFRS | IFRS | IFRS | IFRS | |
∟ Operating revenue (Turnover) | 1,832,700 | 751,700 | 2,071,500 | 2,049,100 | 3,295,100 | 3,106,000 | 2,921,800 | 2,608,100 | 2,294,300 | 2,031,300 |
∟ Sales | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Costs of goods sold | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Gross profit | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Other operating expenses | 1,604,300 | 1,582,000 | 1,661,700 | 1,753,900 | 2,704,000 | 2,552,200 | 2,392,600 | 2,106,100 | 1,901,600 | 1,643,000 |
∟ Operating P/L [=EBIT] | 228,400 | -830,300 | 409,800 | 295,200 | 591,100 | 553,800 | 529,200 | 502,000 | 392,700 | 388,300 |
∟ Financial P/L | -210,100 | -205,400 | -120,000 | -29,800 | -20,600 | -25,000 | -34,200 | -38,800 | -49,900 | -50,600 |
∟ Financial revenue | 4,900 | -1,000 | 26,300 | 9,200 | 21,600 | 12,600 | 7,000 | -20,100 | -200 | -14,600 |
∟ Financial expenses | 215,000 | 204,400 | 146,300 | 39,000 | 42,200 | 37,600 | 41,200 | 18,700 | 49,700 | 36,000 |
∟ P/L before tax | 18,300 | -1,035,700 | 289,800 | 265,400 | 570,500 | 528,800 | 495,000 | 463,200 | 342,800 | 337,700 |
∟ Taxation | 6,700 | -104,800 | 63,900 | 50,300 | 116,200 | 102,100 | 101,900 | 97,600 | 22,600 | 63,000 |
∟ P/L after tax | 11,600 | -930,900 | 225,900 | 215,100 | 454,300 | 426,700 | 393,100 | 365,600 | 320,200 | 274,700 |
∟ Extr. and other P/L | n.a. | n.a. | n.a. | 3,520,000 | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Extr. and other revenue | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Extr. and other expenses | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ P/L for period [=Net income] | 11,600 | -930,900 | 225,900 | 3,735,100 | 454,300 | 426,700 | 393,100 | 365,600 | 320,200 | 274,700 |
Memo lines | ||||||||||
∟ Export revenue | n.a. | n.a. | 19,900 | 12,100 | 125,500 | 121,000 | 99,400 | 88,300 | 82,500 | 64,200 |
∟ Material costs | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Costs of employees | 677,400 | 580,500 | 611,500 | 587,800 | 837,000 | 792,500 | 736,300 | 667,100 | 606,900 | 540,100 |
∟ Depreciation & Amortization | 326,900 | 300,200 | 129,900 | 284,000 | 232,200 | 220,100 | 197,600 | 168,400 | 714,100 | 120,400 |
∟ Other operating items | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Interest paid | 215,000 | 204,400 | 146,300 | 39,000 | 42,200 | 37,600 | 41,200 | 18,700 | 49,700 | 36,000 |
∟ Research & Development expenses | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Cash flow | 338,500 | -630,700 | 355,800 | 4,019,100 | 686,500 | 646,800 | 590,700 | 534,000 | 1,034,300 | 395,100 |
∟ Added value | 1,237,600 | 49,400 | 1,177,500 | 4,696,200 | 1,681,900 | 1,579,000 | 1,470,100 | 1,317,400 | 1,713,500 | 1,034,200 |
∟ EBITDA | 555,300 | -530,100 | 539,700 | 579,200 | 823,300 | 773,900 | 726,800 | 670,400 | 1,106,800 | 508,700 |
WHITBREAD GROUP PLC | ||||||||||
Balance sheet | ||||||||||
3/3/2022 | 25/2/2021 | 27/2/2020 | 28/2/2019 | 1/3/2018 | 2/3/2017 | 3/3/2016 | 26/2/2015 | 27/2/2014 | 28/2/2013 | |
th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | th GBP | |
12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | 12 months | |
Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | Unqualified | |
IFRS | IFRS | IFRS | IFRS | IFRS | Local GAAP | IFRS | IFRS | IFRS | IFRS | |
Assets | ||||||||||
Fixed assets | 8,233,500 | 7,429,100 | 6,977,600 | 4,336,700 | 4,542,100 | 4,351,200 | 4,157,900 | 3,568,300 | 3,150,000 | 3,002,400 |
∟ Intangible fixed assets | 159,300 | 159,100 | 172,800 | 175,600 | 300,700 | 275,700 | 258,100 | 248,100 | 223,000 | 215,400 |
∟ Tangible fixed assets | 7,494,700 | 7,016,500 | 4,232,000 | 4,090,000 | 4,176,000 | 3,972,400 | 3,831,000 | 3,278,400 | 2,894,100 | 2,748,900 |
∟ Other fixed assets | 579,500 | 253,500 | 2,572,800 | 71,100 | 65,400 | 103,100 | 68,800 | 41,800 | 32,900 | 38,100 |
Current assets | 1,340,600 | 1,371,700 | 846,200 | 3,566,800 | 361,900 | 757,800 | 493,900 | 252,700 | 197,500 | 172,300 |
∟ Stock | 19,400 | 12,100 | 13,800 | 14,500 | 48,800 | 48,200 | 47,100 | 38,200 | 30,500 | 28,000 |
∟ Debtors | 45,500 | 22,100 | 292,800 | 55,700 | 202,700 | 92,600 | 92,700 | 211,200 | 66,900 | 0 |
∟ Other current assets | 1,275,700 | 1,337,500 | 539,600 | 3,496,600 | 110,400 | 617,000 | 354,100 | 3,300 | 100,100 | 144,300 |
∟ Cash & cash equivalent | 1,132,400 | 1,256,000 | 502,600 | 3,403,200 | 90,600 | 63,000 | 57,100 | 2,100 | 41,400 | 40,800 |
Total assets | 9,574,100 | 8,800,800 | 7,823,800 | 7,903,500 | 4,904,000 | 5,109,000 | 4,651,800 | 3,821,000 | 3,347,500 | 3,174,700 |
Liabilities & equity | ||||||||||
Shareholders funds | 2,831,200 | 2,576,800 | 3,502,100 | 6,218,900 | 2,815,600 | 2,947,800 | 2,655,400 | 2,071,400 | 1,695,000 | 1,407,300 |
∟ Capital | 133,700 | 133,700 | 133,700 | 133,700 | 133,700 | 133,700 | 133,700 | 133,700 | 133,700 | 133,700 |
∟ Other shareholders funds | 2,697,500 | 2,443,100 | 3,368,400 | 6,085,200 | 2,681,900 | 2,814,100 | 2,521,700 | 1,937,700 | 1,561,300 | 1,273,600 |
Non-current liabilities | 4,728,100 | 4,191,700 | 3,429,800 | 1,097,000 | 1,238,700 | 1,325,200 | 1,308,100 | 1,171,800 | 1,089,200 | 1,220,200 |
∟ Long term debt | 4,564,400 | 4,110,000 | 743,700 | 819,900 | 814,500 | 803,900 | 882,500 | 526,000 | 433,000 | 521,600 |
∟ Other non-current liabilities | 163,700 | 81,700 | 2,686,100 | 277,100 | 424,200 | 521,300 | 425,600 | 645,800 | 656,200 | 698,600 |
∟ Provisions | 162,500 | 56,000 | 145,400 | 133,300 | 103,800 | 74,300 | 117,400 | 27,800 | 79,500 | 139,300 |
Current liabilities | 2,014,800 | 2,032,300 | 891,900 | 587,600 | 849,700 | 836,000 | 688,300 | 577,800 | 563,300 | 547,200 |
∟ Loans | 129,300 | 426,500 | 337,400 | 5,600 | 108,900 | 159,700 | 98,400 | 77,900 | 95,900 | 13,600 |
∟ Creditors | 1,865,900 | 1,575,300 | 165,500 | 78,000 | 662,600 | 162,100 | 144,400 | 458,000 | 109,300 | 0 |
∟ Other current liabilities | 19,600 | 30,500 | 389,000 | 504,000 | 78,200 | 514,200 | 445,500 | 41,900 | 358,100 | 533,600 |
Total shareh. funds & liab. | 9,574,100 | 8,800,800 | 7,823,800 | 7,903,500 | 4,904,000 | 5,109,000 | 4,651,800 | 3,821,000 | 3,347,500 | 3,174,700 |
Memo lines | ||||||||||
∟ Working capital | -1,801,000 | -1,541,100 | 141,100 | -7,800 | -411,100 | -21,300 | -4,600 | -208,600 | -11,900 | 28,000 |
∟ Net current assets | -674,200 | -660,600 | -45,700 | 2,979,200 | -487,800 | -78,200 | -194,400 | -325,100 | -365,800 | -374,900 |
∟ Enterprise value | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
∟ Number of employees | 34,328 | 32,503 | 36,034 | 35,514 | 52,705 | 42,044 | 41,175 | 38,816 | 36,447 | 33,716 |
Related Book For
Understanding Financial Statements
ISBN: 978-0133874037
11th edition
Authors: Lyn Fraser, Aileen Ormiston
Posted Date: