Investor Presentaiton
SALES PERFORMANCE
Continued underlying like-for-like sales growth
£m
H122
H121
% change
•
UK system sales
674.1
716.5
(5.9)%
As expected, system sales declined 5.6% due to
the change in the VAT rate
Ireland system sales
36.4
35.8
1.8%
•
Adjusting for VAT, system sales grew 3.4%
Total system sales
710.5
752.3 (5.6)%
•
Supply chain revenue
190.7
183.1
4.2%
Royalty, rental & other revenue
38.1
40.8
(6.7)%
Corporate stores revenue
17.6
17.7
(0.6)%
NAF & eCommerce
31.9
36.2
(11.9)%
Total DPG reported revenue
278.3
277.8
0.2%
UK & Ireland EBITDA
61.7
69.5
(11.2)%
Reported EBITDA margin % of
8.7%
9.2%
(0.5)%
system sales
•
Supply chain revenue up 4.2% reflecting
underlying sales growth and recovery of
inflation
Royalty and corporate stores revenue impacted
by the VAT rate change
Revenue relating to the National Advertising
Fund ("NAF") and eCommerce funds is
recognised based on costs incurred and has
decreased due to lower marketing and IT spend
in the period.
Marketing spend to increase in H2
UK VAT reduction from 20% to 5% effective from 15 July 2020 to 30 September
2021, increased to 12.5% on 1 October 2021 and reverted back to 20% on 1 April 2022
5
HALF YEAR RESULTS 2022
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