Bunzl Results Presentation Deck
STRENGTH THROUGH THE PANDEMIC
Pandemic has highlighted the strength of Bunzl's business model and strategy
Financial performance 2021 vs. 2019
●
●
●
●
Revenue +17% higher¹, with underlying
revenue² +9% higher¹
Adjusted operating profit³ +23% higher¹
Mix of sector and product revenue provided
resilience through the period
Average of 102% cash conversion; Free Cash
Flow +15% higher at actual exchange rates
Two further years of consecutive dividend
per share growth
Continued strategic progress
Almost £1bn of committed acquisition spend
over 2020 and 2021
●
●
●
Percentage of digital orders increased from
62% in 2019 to 67% in 2021
84% of Group revenues in 2021 generated by
non-packaging products and packaging4
products made from alternative materials
Strength of employee engagement with
having a strong commitment to Bunzl
Launch of sustainability commitments,
including net zero carbon ambition
Attractive outlook
●
Exited 2021 with net debt: EBITDA3,5 of 1.6x
compared to target level of 2.0-2.5x
Active acquisition pipeline
Continued support of Covid-19 related
products through transitionary period
BUNZL
Longer-term attractive sector exposure
Notes
1. At constant exchange rates
2. Underlying revenue is a measure of revenue over comparative periods at constant exchange rates, excluding the incremental impact of acquisitions and disposals and adjusted for differences in trading days between years
3. Alternative performance measure - see Appendix 1
4. Packaging refers to packaging and other products within the foodservice, grocery and retail sectors which are facing legislation or consumer pressure
5. At average exchange rates and based on historical accounting standards, in accordance with Group's external debt covenants
2021 FULL YEAR RESULTS
25View entire presentation