Mitchells & Butlers — FY2015 Earnings Presentation

4 slides from Mitchells & Butlers's earnings presentation, Nov 24, 2015

Slide 1: Supplementary Slides: Full Year Results 2015
Supplementary Slides Full Year Results 2015 24th November 2015
Slide 2: FY 2015 – Outlet reconciliation
FY 2015 – Outlet reconciliation Total Managed Franchised Total MAB Opening outlets (start FY 2015) 1,775 57 1,832 Transfers (1) (1) Disposals (9) (2) (11) Acquisitions 14 14 Closing outlets (end FY 2015) 1,779 55 1,834 Average trading pubs* 1,769 FY 2015 average weekly take* £22.6k Note: Lodges atta
Slide 3: FY 2015 – Financial covenants summary
FY 2015 – Financial covenants summary Securitisation Restricted Payments Tests Test Actual (Relevant Year) Headroom Free cash flow to debt service 1.3x 1.6x £55m EBITDA to debt service 1.7x 1.9x £41m Securitisation Covenants Covenant Actual (Relevant Year) Headroom Free cash flow to debt service 1.1
Slide 4: FY 2015 – Securitisation profile
FY 2015 – Securitisation profile £ms Debt service (250.00) (200.00) Annual cash interest Annual amortisation (150.00) (100.00) (50.00) 0.00 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Sep-22 Sep-23 Sep-24 Sep-25 Sep-26 Sep-27 Sep-28 Sep-29 Sep-30 Sep-31 Sep-32 Sep-33 Sep-34 Sep-35 Sep-36 Supple