Annual Report and Accounts 2021
Great people delivering sustainable supply chain value
Strategic report
Strategic report
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.