Whitebread Annual Update
Continued market outperformance in the UK; rapid estate growth in Germany
Premier Inn UK
£m
Statutory revenue
Other income (excl. rental income)
Operating costs
Adjusted EBITDAR
Net turnover rent and rental income
Depreciation: Right-of-use asset
Depreciation and amortisation: Other
Adjusted operating profit / (loss)
Interest: Lease liability
Adjusted profit/ (loss) before tax
●
●
●
FY21 FY20
FY22
1,668.2
70.1
577.4 2,050.3
142.5 13.6
(1,248.6) (861.7) (1,270.2)
489.8 (141.8)
3.9
793.7
2.1
(125.2) (109.9) (103.2)
(168.9) (168.5) (163.2)
199.6 (415.7) 529.4
(117.1) (115.1)
(124.7)
74.9 (532.8)
414.3
Outperforming the market
COVID-19 restrictions in place until July
Strong leisure led recovery from Q2 onwards
4.5
15
Premier Inn Germany
£m
Statutory revenue
Other income (excl. rental income)
Operating costs
Adjusted EBITDAR
Net turnover rent and rental income
Depreciation: Right-of-use asset
Depreciation and amortisation: Other
Adjusted operating (loss) / profit
Interest: Lease liability
Adjusted (loss) / profit before tax
●
FY22 FY21 FY20
35.2
44.3
(65.8)
13.7
3.7
11.5
11.8
11.5
0.3
(43.9) (23.9)
(20.9)
(11.8)
3.9
0.8
(22.9) (16.4)
(0.8)
(9.9)
(5.4)
(1.6)
(15.4)
(38.8)
(13.4)
(8.5)
(6.1)
(0.2)
(23.9)
(44.9) (13.6)
Material estate growth
COVID-19 restrictions in place for the majority of the year
Adjusted loss benefitting from Government grants
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