Mitchells & Butlers — H1 2017 Earnings Presentation

4 slides from Mitchells & Butlers's earnings presentation, June 2017

Slide 1: Half Year Results 2017 Supplementary Slides
Half Year Results 2017 Supplementary Slides –1–
Slide 2: H1 2017 – Outlet reconciliation
H1 2017 – Outlet reconciliation Total Managed Franchised Total MAB Opening outlets (start H1 2017) 1,768 57 1,825 Transfers (2) 1 (1) Disposals (2) (2) (4) Acquisitions 6 6 Closing outlets (end H1 2017) 1,770 56 1,826 Note: Lodges attached to sites do not appear as a separate outlet. –2– Supplementa
Slide 3: H1 2017 – Financial covenants summary
H1 2017 – Financial covenants summary Securitisation Restricted Payments Tests Test Actual (Relevant Year) Headroom Free cash flow to debt service 1.3x 1.5x £31m EBITDA to debt service 1.7x 1.8x £28m Securitisation Covenants Covenant Actual (Relevant Year) Headroom Free cash flow to debt service 1.1
Slide 4: H1 2017 – Securitisation profile
H1 2017– Securitisation profile Annual cash interest Annual amortisation –4–