G4S plc UK DK : G4S presents 2017 segmental results reflecting new organisation structure
July 11 2018 - 1:00AM
.
11 July 2018
G4S presents
2017 segmental results reflecting new organisation
structure
In accordance with IFRS, the
presentation of G4S's results from H1 2018 onwards will reflect the
new organisation structure which was implemented on 1 January
2018. This saw the creation of new management structures for
Secure Solutions and Global Cash Solutions which has enabled us to
further strengthen the Group's strategic, commercial and
operational focus in each of our core service lines.
In addition, the presentation of
the Group's results will reflect the:
-
elimination of the separate presentation of
portfolio businesses as the portfolio programme is substantially
complete; and
-
introduction of the separate presentation of the
impact of business disposals in the current and prior year.
These presentational changes do
not change the Group's audited prior period results.
Ahead of the announcement of its
half year 2018 results on 9 August, to aid comparison with prior
periods, a summary of the Group's results for H1 2017 and FY 2017
reflecting the above changes and presented at average exchange
rates for the six months ended 30 June 2018 is set out below:
£m |
HY 2017 |
FY 2017 |
|
Revenue |
Adjusted
PBITA |
EPS |
Revenue |
Adjusted
PBITA |
EPS |
|
|
|
|
|
|
|
Core businesses
as previously reported |
3,715 |
235 |
8.3 |
7,427 |
496 |
17.9 |
Portfolio businesses as
previously reported |
200 |
2 |
(0.1) |
282 |
(5) |
(1.0) |
Business disposals:
2017 & 2018 |
(156) |
(10) |
(0.4) |
(197) |
(14) |
(0.4) |
Underlying businesses at
actual exchange rates |
3,759 |
227 |
7.8 |
7,512 |
477 |
16.5 |
Exchange differences |
(167) |
(9) |
(0.5) |
(257) |
(14) |
(0.5) |
Underlying businesses at
H1 2018 exchange rates |
3,592 |
218 |
7.4 |
7,255 |
463 |
16.1 |
Reconciliations of the segmental
and total group results as previously reported to those reported in
the new structure are set out at the end of this announcement.
For further
enquiries, please contact:
Helen Parris
Director of Investor Relations
+44 (0) 208 7222125
Sophie
McMillan
Head of
Media
+44 (0) 759 5523483
Notes to
Editors:
G4S is the leading global, integrated security company,
specialising in the provision of security services and solutions to
customers. Our mission is to create material, sustainable value for
our customers and shareholders by being the supply partner of
choice in all our markets.
G4S is quoted on the London Stock
Exchange and has a secondary stock exchange listing in Copenhagen.
G4S is active in around 90 countries and has around 570,000
employees. For more information on G4S, visit www.g4s.com.
Reconciliation of segmental results
for the six months ended 30 June
2017
to the new organisational structure |
|
Core businesses as previously
reported
(a) |
Cash Solutions
(b) |
Secure Solutions
(c) |
Core businesses in new structure |
Revenue - £m |
|
|
|
|
|
|
|
|
|
Africa |
228 |
(34) |
- |
194 |
Asia |
367 |
(115) |
179 |
431 |
Middle East & India |
427 |
(27) |
(179) |
221 |
Europe |
654 |
(146) |
- |
508 |
United Kingdom & Ireland |
649 |
(144) |
- |
505 |
Europe & Middle East |
1,730 |
(317) |
(179) |
1,234 |
Latin America |
350 |
(22) |
- |
328 |
North America |
1,040 |
(149) |
- |
891 |
Americas |
1,390 |
(171) |
- |
1,219 |
Cash Solutions |
- |
637 |
- |
637 |
Total Core/Underlying |
3,715 |
- |
- |
3,715 |
|
Core businesses in new structure |
Portfolio businesses
(d) |
Disposed businesses (e) |
Underlying businesses
at actual exchange rates |
Revenue - £m |
|
|
|
|
|
|
|
|
|
Africa |
194 |
6 |
(1) |
199 |
Asia |
431 |
13 |
(13) |
431 |
Middle East & India |
221 |
|
|
|
Europe |
508 |
|
|
|
United Kingdom & Ireland |
505 |
|
|
|
Europe & Middle East |
1,234 |
97 |
(103) |
1,228 |
Latin America |
328 |
|
|
|
North America |
891 |
|
|
|
Americas |
1,219 |
41 |
(23) |
1,237 |
Cash Solutions |
637 |
43 |
(16) |
664 |
Total Core/Underlying |
3,715 |
200 |
(156) |
3,759 |
|
Underlying businesses
at actual exchange rates |
Exchange differences
(f) |
Underlying businesses
at H1 2018 exchange
rates |
Revenue - £m |
|
|
|
|
|
|
|
Africa |
199 |
(10) |
189 |
Asia |
431 |
(28) |
403 |
Middle East & India |
|
|
|
Europe |
|
|
|
United Kingdom & Ireland |
|
|
|
Europe & Middle East |
1,228 |
(6) |
1,222 |
Latin America |
|
|
|
North America |
|
|
|
Americas |
1,237 |
(106) |
1,131 |
Cash Solutions |
664 |
(17) |
647 |
Total Core/Underlying |
3,759 |
(167) |
3,592 |
Adjusted PBITA (g) - £m |
|
|
|
|
|
Core businesses as previously
reported
(a) |
Cash Solutions
(b) |
Secure Solutions
(c) |
Core businesses in new structure |
|
|
|
|
|
Africa |
24 |
(9) |
- |
15 |
Asia |
30 |
(16) |
14 |
28 |
Middle East & India |
34 |
(1) |
(14) |
19 |
Europe |
48 |
(20) |
- |
28 |
United Kingdom & Ireland |
53 |
(14) |
- |
39 |
Europe & Middle East |
135 |
(35) |
(14) |
86 |
Latin America |
15 |
(3) |
- |
12 |
North America |
57 |
(17) |
- |
40 |
Americas |
72 |
(20) |
- |
52 |
Cash Solutions |
- |
80 |
- |
80 |
Total before corporate costs |
261 |
- |
- |
261 |
Corporate costs |
(26) |
- |
- |
(26) |
Total Core/Underlying |
235 |
- |
- |
235 |
|
Core businesses in new structure |
Portfolio businesses
(d) |
Disposed businesses (e) |
Underlying businesses
at actual exchange rates |
|
|
|
|
|
Africa |
15 |
1 |
(1) |
15 |
Asia |
28 |
1 |
(1) |
28 |
Middle East & India |
19 |
|
|
|
Europe |
28 |
|
|
|
United Kingdom & Ireland |
39 |
|
|
|
Europe & Middle East |
86 |
5 |
(5) |
86 |
Latin America |
12 |
|
|
|
North America |
40 |
|
|
|
Americas |
52 |
- |
(2) |
50 |
Cash Solutions |
80 |
(5) |
(1) |
74 |
Total before corporate costs |
261 |
2 |
(10) |
253 |
Corporate costs |
(26) |
- |
- |
(26) |
Total Core/Underlying |
235 |
2 |
(10) |
227 |
|
Underlying businesses
at actual exchange rates |
Exchange differences
(f) |
Underlying businesses
at H1 2018 exchange
rates |
|
|
|
|
Africa |
15 |
(1) |
14 |
Asia |
28 |
(2) |
26 |
Middle East & India |
|
|
|
Europe |
|
|
|
United Kingdom & Ireland |
|
|
|
Europe & Middle East |
86 |
- |
86 |
Latin America |
|
|
|
North America |
|
|
|
Americas |
50 |
(3) |
47 |
Cash Solutions |
74 |
(3) |
71 |
Total before corporate costs |
253 |
(9) |
244 |
Corporate costs |
(26) |
- |
(26) |
Total Core/Underlying |
227 |
(9) |
218 |
|
Core
businesses
as previously
reported |
Portfolio businesses
(d) |
Disposed businesses
(e) |
Underlying
businesses
at actual
exchange rates |
|
|
|
|
|
Other financial
KPIs - £m |
|
|
|
|
|
|
|
|
Profit before tax |
181 |
1 |
(10) |
172 |
Profit after tax |
138 |
(1) |
(7) |
130 |
Earnings |
128 |
(1) |
(6) |
121 |
Earnings per share - p |
8.3 |
(0.1) |
(0.4) |
7.8 |
Operating cash flow |
192 |
(3) |
(6) |
183 |
|
Underlying
businesses
at actual
exchange rates |
Exchange
differences (f) |
Underlying
businesses at
H1 2018
Exchange
rates |
Other financial
KPIs - £m |
|
|
|
Profit before tax |
172 |
(10) |
162 |
Profit after tax |
130 |
(7) |
123 |
Earnings |
121 |
(7) |
114 |
Earnings per share - p |
7.8 |
(0.5) |
7.4 |
Operating cash flow |
183 |
- |
183 |
Recon
ciliation
to stat
utory
results
|
Under
lying
busin
esses
at
actual
exch
ange
rates |
Add
back:
Dis
posed
bus
inesses (e) |
Restr
ucturing |
One
rous
cont
racts |
Acq
uisition
related
amor
tisation
and
other |
Statutory
results
at
actual
exch
ange
rates |
|
|
|
|
|
|
|
Other
financial
KPIs - £m |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
before
tax |
172 |
10 |
(14) |
(5) |
55 |
218 |
Profit
After
tax |
130 |
7 |
(11) |
(4) |
42 |
164 |
Earnings |
121 |
6 |
(11) |
(4) |
38 |
150 |
Earnings
per
share
- p |
7.8 |
0.4 |
(0.7) |
(0.3) |
2.5 |
9.7 |
Operating
cash flow |
183 |
6 |
(13) |
- |
- |
176 |
Reconciliation
to statutory
results
|
Statutory
results
at actual
exchange
rates |
Exchange
differences
(f) |
Statutory
results
at H1
2018
exchange
rates |
|
|
|
|
Other financial
KPIs - £m |
|
|
|
|
|
|
|
Profit before
tax |
218 |
(12) |
206 |
Profit afte
r tax |
164 |
(8) |
156 |
Earnings |
150 |
(8) |
142 |
Earnings
per share
- p |
9.7 |
(0.5) |
9.2 |
Operating
cash flow |
176 |
- |
176 |
Reconciliation of segmental results
for the year ended 31 December
2017
to the new organisational structure |
|
Core businesses
as
previously reported
(a) |
Cash Solutions
(b) |
Secure Solutions
(c) |
Core
businesses
in new structure |
Revenue - £m |
|
|
|
|
|
|
|
|
|
Africa |
457 |
(70) |
- |
387 |
Asia |
736 |
(223) |
358 |
871 |
Middle East & India |
845 |
(54) |
(358) |
433 |
Europe |
1,356 |
(303) |
- |
1,053 |
United Kingdom & Ireland |
1,334 |
(293) |
- |
1,041 |
Europe & Middle East |
3,535 |
(650) |
(358) |
2,527 |
Latin America |
693 |
(41) |
- |
652 |
North America |
2,006 |
(225) |
- |
1,781 |
Americas |
2,699 |
(266) |
- |
2,433 |
Cash Solutions |
- |
1,209 |
- |
1,209 |
Total Core/Underlying |
7,427 |
- |
- |
7,427 |
|
Core
businesses
in new structure |
Portfolio businesses
(d) |
Disposed businesse
s (e) |
Underlying
businesses
at actual exchange
rates |
Revenue - £m |
|
|
|
|
|
|
|
|
|
Africa |
387 |
12 |
(3) |
396 |
Asia |
871 |
25 |
(25) |
871 |
Middle East & India |
433 |
|
|
|
Europe |
1,053 |
|
|
|
United Kingdom & Ireland |
1,041 |
|
|
|
Europe & Middle East |
2,527 |
102 |
(115) |
2,514 |
Latin America |
652 |
|
|
|
North America |
1,781 |
|
|
|
Americas |
2,433 |
56 |
(23) |
2,466 |
Cash Solutions |
1,209 |
87 |
(31) |
1,265 |
Total Core/Underlying |
7,427 |
282 |
(197) |
7,512 |
|
Underlying
businesses
at actual exchange
rates |
Exchange differences
(f) |
Underlying
businesses at
H1 2018
exchange rates |
Revenue - £m |
|
|
|
|
|
|
|
Africa |
396 |
(13) |
383 |
Asia |
871 |
(45) |
826 |
Middle East & India |
|
|
|
Europe |
|
|
|
United Kingdom & Ireland |
|
|
|
Europe & Middle East |
2,514 |
(20) |
2,494 |
Latin America |
|
|
|
North America |
|
|
|
Americas |
2,466 |
(160) |
2,306 |
Cash Solutions |
1,265 |
(19) |
1,246 |
Total Core/Underlying |
7,512 |
(257) |
7,255 |
Adjusted PBITA (g) - £m |
|
|
|
|
|
Core
businesses
as
previously reported
(a) |
Cash
Solutions
(b) |
Secure
Solutions
(c) |
Core
businesses
in new structure |
|
|
|
|
|
Africa |
46 |
(18) |
- |
28 |
Asia |
65 |
(32) |
27 |
60 |
Middle East & India |
58 |
- |
(27) |
31 |
Europe |
104 |
(43) |
- |
61 |
United Kingdom & Ireland |
120 |
(35) |
- |
85 |
Europe & Middle East |
282 |
(78) |
(27) |
177 |
Latin America |
29 |
(7) |
- |
22 |
North America |
123 |
(25) |
- |
98 |
Americas |
152 |
(32) |
- |
120 |
Cash Solutions |
- |
160 |
- |
160 |
Total before corporate costs |
545 |
- |
- |
545 |
Corporate costs |
(49) |
- |
- |
(49) |
Total Core/Underlying |
496 |
- |
- |
496 |
|
Core
businesses
in new structure |
Portfolio businesses
(d) |
Disposed businesse
s (e) |
Underlying
businesses
at actual exchange
rates |
|
|
|
|
|
Africa |
28 |
1 |
(1) |
28 |
Asia |
60 |
- |
- |
60 |
Middle East & India |
31 |
|
|
|
Europe |
61 |
|
|
|
United Kingdom & Ireland |
85 |
|
|
|
Europe & Middle East |
177 |
4 |
(8) |
173 |
Latin America |
22 |
|
|
|
North America |
98 |
|
|
|
Americas |
120 |
- |
(2) |
118 |
Cash Solutions |
160 |
(10) |
(3) |
147 |
Total before corporate costs |
545 |
(5) |
(14) |
526 |
Corporate costs |
(49) |
- |
- |
(49) |
Total Core/Underlying |
496 |
(5) |
(14) |
477 |
|
Underlying
businesses
at actual exchange
rates |
Exchange differences
(f) |
Underlying
businesses at
H1 2018
exchange rates |
|
|
|
|
Africa |
28 |
(1) |
27 |
Asia |
60 |
(3) |
57 |
Middle East & India |
|
|
|
Europe |
|
|
|
United Kingdom & Ireland |
|
|
|
Europe & Middle East |
173 |
(1) |
172 |
Latin America |
|
|
|
North America |
|
|
|
Americas |
118 |
(7) |
111 |
Cash Solutions |
147 |
(2) |
145 |
Total before corporate costs |
526 |
(14) |
512 |
Corporate costs |
(49) |
- |
(49) |
Total Core/Underlying |
477 |
(14) |
463 |
|
Core businesses as previously
reported |
Portfolio businesses (d) |
Disposed businesses (e) |
Underlying businesses at actual exchange
rates |
|
|
|
|
|
Other financial
KPIs - £m |
|
|
|
|
|
|
|
|
Profit before tax |
383 |
(7) |
(14) |
362 |
Profit after tax |
291 |
(14) |
(7) |
270 |
Earnings |
277 |
(15) |
(6) |
256 |
Earnings per share - p |
17.9 |
(1.0) |
(0.4) |
16.5 |
Operating cash flow |
527 |
(7) |
(9) |
511 |
|
Underlying businesses at actual exchange
rates |
Exchange differences (f) |
Underlying businesses at H1 2018 exchange
rates |
Other financial
KPIs - £m |
|
|
|
Profit before tax |
362 |
(11) |
351 |
Profit after tax |
270 |
(8) |
262 |
Earnings |
256 |
(7) |
249 |
Earnings per share - p |
16.5 |
(0.5) |
16.1 |
Operating cash flow |
511 |
- |
511 |
Recon
ciliation to
statutory
results
|
Underlying
businesses
at actual exchange rates |
Add back:
Disposed businesses (e) |
Rest
ructuring |
Onerous contracts |
Acquisition related amortisation and
other |
Statutory results at actual exchange
rates |
|
|
|
|
|
|
|
Other
financial
KPIs
- £m |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit
before tax |
362 |
14 |
(20) |
(19) |
49 |
386 |
Profit
after tax |
270 |
7 |
(16) |
(15) |
12 |
258 |
Earnings |
256 |
6 |
(16) |
(15) |
5 |
236 |
Earnings
per share
- p |
16.5 |
0.4 |
(1.0) |
(1.0) |
0.3 |
15.2 |
Operating
cash flow |
511 |
9 |
(19) |
- |
- |
501 |
Reconciliation to
statutory results
|
Statutory results at actual exchange
rates |
Exchange differences
(f) |
Statutory results at H1 2018 exchange
rates |
|
|
|
|
Other financial KPIs - £m |
|
|
|
|
|
|
|
Profit before tax |
386 |
(11) |
375 |
Profit after tax |
258 |
(8) |
250 |
Earnings |
236 |
(8) |
228 |
Earnings per share - p |
15.2 |
(0.5) |
14.7 |
Operating cash flow |
501 |
- |
501 |
a) Results from core businesses as
previously reported in the Group's results for the
six months ended 30 June 2017 or
the year ended 31 December 2017 as appropriate.
Segment results were presented
geographically with segments combining Secure Solutions and Cash
Solutions.
b) As reported in the 2017
Integrated Report and Accounts, in January 2018 the Group created a
new
'Cash Solutions' division.
This column presents the re-classification of the results from the
Cash Solutions
businesses that were
previously reported in the geographical segments into the new Cash
Solutions division.
c) With effect from 1 January
2018, the Secure Solutions division was consolidated into four
regions: Americas,
Europe & Middle East, Africa
and Asia. Following this re-organisation, the results of certain
businesses previously
reported in the Middle East &
India region (primarily India and Bangladesh) are now reported in
the Asia region.
d) As reported in the 2017
Integrated Report and Accounts, the Group's portfolio business
divestment and
closure programme is now
materially complete. The financial impact of portfolio businesses
is no longer material
and to simplify reporting
moving forwards, the Group has ceased separate columnar disclosure
of these businesses.
e) To present results on a
consistent and comparable basis, the results from any businesses
sold in either the
current or prior periods are
excluded from the underlying businesses in both the current and
prior periods. These
include the Youth Services
businesses in North America, the children's homes business in the
UK and Group
businesses in Israel and Bulgaria
in 2017 and the document storage business in Kenya and the Group's
businesses
in Hungary in 2018.
f) The 30 June 2017 results were
presented at average exchange rates for the six months ended 30
June 2017
and those for the year ended
31 December 2017 were presented at average exchange rates for the
year ended
31 December 2017. The
comparative results have been re-presented at average exchange
rates for the six months
ended 30 June 2018.
g) Adjusted PBITA is an
Alternative Performance Measure as defined in the 2017 Integrated
Report and Accounts, together
with restructuring,
acquisition-related amortisation, specific and other items.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: G4S plc UK DK via Globenewswire
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