Annual Report and Accounts 2021

Great people delivering sustainable supply chain value

Strategic report

Strategic report

Introduction

1

The Wincanton Way

2

Why invest?

3

Chairman's review

4

At a glance

6

Our markets

8

Our business model

12

Our KPIs

14

Chief Executive Officer's review

15

ESG report

22

Chief Financial Officer's review

31

Risk report

37

Governance

Introduction from the Chairman

43

Board governance

44

Board leadership

46

Governance framework

48

Nomination Committee report

54

Audit Committee report

58

Directors' remuneration

report

Committee Chair Introduction

63

At a glance

68

Report on remuneration

70

Directors' Remuneration Policy

78

Directors' report

Directors' report

81

Statement of

84

Directors' responsibilities

Independent auditor's report

Independent auditor's report

85

Accounts

Consolidated income statement

91

Consolidated statement

92

of comprehensive income

Consolidated balance sheet

93

Consolidated statement

94

of changes in equity

Consolidated statement

95

of cash flows

Notes to the consolidated

96

financial statements

Wincanton plc Company

126

balance sheet

Wincanton plc Company

127

statement of changes in equity

Notes to the Wincanton plc

128

Company financial statements

Group five year record

130

Shareholder information

131

Board of Directors and advisers 132

Chairman's review

4-5

Chief Executive Officer's review

15-21

for more information

for more information

see page

see our website

At the heart of British supply chains.

Our ambition is to be recognised as the leading supply chain partner for UK business.

Last year we defined our purpose as 'Great people delivering sustainable supply chain value'. We continue to do things better for both our customers and wider society driven by our people and their passion for what they do. It's a commitment we call The Wincanton Way and it will drive our success.

FINANCIAL HIGHLIGHTS

Revenue

Underlying EBITDA1

Profit before tax

£1,221.9m

£95.2m

£48.4m

+1.7%

-8.5%

+10.5%

Underlying profit before tax1

Underlying Earnings per share1

Basic earnings per share

£47.2m

32.0p

33.3p

-10.6%

-11.4%

+7.1%

Underlying profit before tax margin

Net cash/(debt)1

Dividend per share

3.9%

£11.9m

10.35p

-50bps

+£22.0m

+165.4%

1 The Directors present the results of the business on an underlying basis as they believe this better represents the performance of the business. See page 36 for further information on these alternative performance measures (APMs) including definitions and a reconciliation of APMs to statutory measures. The definition of non-underlying items can be found in Note 4 to the consolidated financial statements on page 103.

Governancereport Strategic

IndependentDirectors' Accountsreport auditor's report Directors' report remuneration

Wincanton plc Annual Report and Accounts 2021

1

Strategic report

The Wincanton Way

Our ESG commitment

Our commitment to how we work and live our values, connecting and delivering with our colleagues, customers, communities and suppliers.

Environmental

Social

Governance

building the road

celebrating diversity,

ensuring direction and

to net-zero by 2040:

fostering a safe,

control of our business

a commitment to

empowering and

through effective

being the leading

inclusive workplace

management, culture,

third party logistics

and supporting the

systems and processes

partner of net-zero

communities in which

solutions for fleet,

we operate

property and waste

Providing net-zero deliveries on our home delivery operations to all customers by the end of FY 2021/22

Doubling the recycling rate from residual waste by 2025

Building the road to net-zero by 2040 through using alternative fuel vehicles for trucks and employee fleet

Supporting our people, looking after their wellbeing

Investing in local communities and fundraising projects

Developing our teams and providing a safe and inclusive working environment

Ensuring direction and control of our business through effective management, culture, systems and processes

2

Wincanton plc Annual Report and Accounts 2021

Why invest?

A strong investment case

DIFFERENTIATED, MARKET LEADING OFFERING

Underpinned by multiyear

Continued focus on operational

contracts and a diversified

excellence delivering contract

customer portfolio

and organic growth while driving

margin improvement

Market leading position as a

Innovation at the heart of the

trusted partner with enduring

service proposition; continually

customer relationships

evolving the offering to stay agile

versus competition

SIGNIFICANT AND SUSTAINABLE ORGANIC GROWTH PROSPECTS

Disciplined growth through

Positioned to take share in

analytical and selective targeting

growing higher margin markets

of new business

through increasing exposure to

multichannel, eFulfilment, consumer

and construction

Visibility over customers' supply

Flexibility of cost base makes

chains providing insight and ability to

Wincanton well placed in a

offer innovative solutions

competitive environment and

rapidly changing market dynamics

Governance

IndependentDirectors' Accountsreport auditor's report Directors' report remuneration

ROBUST FINANCIAL PROFILE GENERATING SHAREHOLDER VALUE

Strong cash generation and clear

Experienced management team with

capital allocation policy to continually

a track record of delivering growth

invest in growth and maintain

and long term value for shareholders

shareholder dividends

Consistent Earnings Per Share (EPS)

Strong financial profile facilitates

growth supports progressive dividend

complementary, earnings

policy, offering an attractive and

accretive acquisitions

secure yield

Wincanton plc Annual Report and Accounts 2021

3

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Wincanton plc published this content on 04 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2021 07:56:09 UTC.