GROUP - EBIT PERFORMANCE - PRE COVID TO NOW
Domino's
(1)
GROUP - FREE CASH FLOW"
H121
H1 22
Statutory
Statutory
H1 23
Statutory
$ mil
$ mil
$ mil
Underlying EBITDA
218.2
212.8
182.3
Change in working capital
(11.7)
(57.2)
(11.6)
Profit on sale of non-current assets
(13.2)
(13.3)
(11.4)
Other movements
1.9
(2.3)
(1.3)
Operating cash flow before interest & tax
195.1
140.0
157.9
Non-recurring costs
(1.0)
(3.1)
(11.1)
Net interest paid
(6.7)
(5.8)
(8.3)
Tax paid
(25.7)
(38.2)
(29.3)
Net operating cash flow
161.8
92.8
109.1
Capital expenditure
(67.9)
(104.0)
Proceeds from sale of PP&E & intangibles
10.4
15.9
(101.8)
11.5
Loans repaid by franchisees
21.1
22.0
24.9
Net cash used in investing activities
(36.4)
(66.1)
(65.4)
Free cashflow before Acquisitions
125.4
26.7
Net lease principal payments
(29.6)
(31.1)
43.8
(27.9)
Free cashflow (ex acquisitions)
95.8
(4.5)
15.9
Acquisitions
(1.0)
(79.6)
(202.8)
Free cashflow
94.8
(84.1)
(186.9)
1) H123 included one less trading week than H122 (26 weeks vs. 27 weeks)
2) See Appendix 8 for further details on Working Capital
Working Capital is $11.6m higher than FY22. Primarily as a
result of additional build-up of equipment and food
inventories, due to lower than planned sales and store
openings in Europe & Japan. Expect this will unwind in
coming 6 months (2)
Net operating cash flow up +17.6%, to +$109.1m
Higher CAPEX in line with growth strategy & 3-5 year outlook
Proceeds from sale excludes non-cash loans of $22.5m
Loan book continues to recycle across all Regions
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