Mitchells & Butlers — FY2016 Earnings Presentation

4 slides from Mitchells & Butlers's earnings presentation, 2016

Slide 1: Full Year Results 2016 Supplementary Slides
Full Year Results 2016 Supplementary Slides –1–
Slide 2: FY 2016 – Outlet reconciliation
FY 2016 – Outlet reconciliation Total Managed Franchised Total MAB Opening outlets (start FY 2016) 1,779 55 1,834 Transfers (3) 2 (1) Disposals (15) (1) (16) Acquisitions 7 1 8 Closing outlets (end FY 2016) 1,768 57 1,825 Note: Lodges attached to sites do not appear as a separate outlet. –2– Supplem
Slide 3: FY 2016 – Financial covenants summary
FY 2016 – Financial covenants summary Securitisation Restricted Payments Tests Test Actual (Relevant Year) Headroom Free cash flow to debt service 1.3x 1.4x £22m EBITDA to debt service 1.7x 1.9x £38m Securitisation Covenants Covenant Actual (Relevant Year) Headroom Free cash flow to debt service 1.1
Slide 4: FY 2016 – Securitisation profile
FY 2016 – Securitisation profile Annual cash interest Annual amortisation –4–