Mitchells & Butlers plc · LSE:MAB
Mitchells & Butlers — Shareholder Meeting (2013)
8 slides from Mitchells & Butlers's shareholder meeting presentation, Jul 2, 2013
Slide 1: Mitchells & Butlers AGM 2013
Mitchells & Butlers AGM 2013 Alistair Darby Chief Executive 1
Slide 2: M&B: strong fundamentals
M&B: strong fundamentals High quality freehold estate Winning brands and formats Scale: at both unit and corporate levels Highly engaged retail teams Strong balance sheet with secure asset backing Ready for transformation 2
Slide 3: Solid results during period of change
Solid results during period of change Income statement (52 weeks) FY 2012 FY 2011 52 wks £m 52 wks £m Retained Estate: Revenue 1,855 1,762 5.3% Operating profit* 297 288 3.1% Disposed operations - 6 Total operating profit* 297 294 1.0% Interest* (135) (138) Profit before tax* 162 156 3.8% Earnings p
Slide 4: Improving guest satisfaction
Improving guest satisfaction 65% Increased front line 60% labour and training 55% Investment in amenity Improved: 50% Guest satisfaction 45% Guest recommendation Employee engagement 40% FY 2011 FY 2012 Guest satisfaction Net promoter score Improved guest focus throughout the organisation Notes: Gues
Slide 5: Initial thoughts
Initial thoughts Passionate people But… Great pubs, bars and Solid but not spectacular restaurants like-for-likes Brands guests love Inconsistent returns on Good operational capital disciplines Positive frustration Significant opportunities for business growth 5
Slide 6: Recent trading and outlook
Recent trading and outlook Like for like sales growth LFL sales up 4% over the festive 2.5% 2.1% season 2.0% Challenging January post 1.5% holidays and snow 1.0% 1.0% No significant change to economic environment 0.5% -0.1% -0.3% Operational execution is key 0.0% -0.5% FY 12 Wk 1-8 Wk 1-14 WK 1-17 F
Slide 7: Priorities for the year ahead
Priorities for the year ahead Successful execution of established strategy Operational excellence: safe, efficient Ways of working trials Proactive response to cost inflation (especially food) Brand development Focus on returns on expansionary capital Triennial pension valuation A unified business i
Slide 8: Mitchells & Butlers AGM 2013
Mitchells & Butlers AGM 2013 Alistair Darby Chief Executive 8