G4S presents 2019 segmental results reflecting the restatement for recent business disposals and foreign exchange rates
Ahead of the announcement on
£m | HY 2019 | FY 2019 | ||||
Revenue | Adjusted PBITA | EPS | Revenue | Adjusted PBITA | EPS | |
Underlying results as previously reported | 3,747 | 234 | 7.7 | 7,672 | 501 | 17.0 |
Business disposals1 | (305) | (38) | (1.4) | (625) | (82) | (3.2) |
Underlying results at actual exchange rates | 3,442 | 196 | 6.3 | 7,047 | 419 | 13.8 |
Exchange differences | (50) | (1) | - | (137) | (6) | (0.2) |
Underlying results at | 3,392 | 195 | 6.3 | 6,910 | 413 | 13.6 |
1 Business disposals include the businesses sold to The Brink’s Company (“Brink’s”) as part of the sale of the majority of the conventional cash businesses announced on
Reconciliations from the segmental and total Group results as previously reported, are set out at the end of this announcement.
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Notes to Editors:
G4S is the world’s 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
Statutory accounts:
This Statement is not the Group’s statutory accounts and should be read in conjunction with the Integrated Report and Accounts 2019, which is available at www.g4s.com. The Integrated Report and Accounts 2019 was reported on by the company’s auditor. The report of the auditor was (i) unqualified, (ii) did not contain a reference to any matters to which the auditor drew attention by emphasis of matter without qualifying their report, and (iii) did not contain any statement under section 498 (2) or (3) of the Companies Act 2006.
Reconciliation from segmental and total Group results for the six months ended
Underlying results at actual exchange rates (at HY 2019) | Businesses sold and completed or closed since HY 2019 (a) | Businesses sold since HY 2019 but not yet completed (a) | Restated underlying results at actual exchange rates (at | Exchange differences | Underlying results at | |
Revenue - £m | ||||||
211 | - | - | 211 | (11) | 200 | |
1,309 | (6) | - | 1,303 | (22) | 1,281 | |
453 | (11) | - | 442 | (7) | 435 | |
1,239 | (14) | (12) | 1,213 | (3) | 1,210 | |
Cash Solutions | 535 | (230) | (32) | 273 | (7) | 266 |
Total Underlying | 3,747 | (261) | (44) | 3,442 | (50) | 3,392 |
Adjusted PBITA (b) - £m | ||||||
17 | - | - | 17 | (1) | 16 | |
61 | - | - | 61 | 1 | 62 | |
31 | - | - | 31 | (1) | 30 | |
92 | - | (2) | 90 | - | 90 | |
Cash Solutions | 60 | (31) | (5) | 24 | - | 24 |
Total before corporate costs | 261 | (31) | (7) | 223 | (1) | 222 |
Corporate costs | (27) | - | (27) | - | (27) | |
Total Underlying | 234 | (31) | (7) | 196 | (1) | 195 |
Underlying results at actual exchange rates1 (at HY 2019) | Businesses sold and completed or closed since HY 2019 (a) | Businesses sold since HY 2019 but not yet completed (a) | Restated underlying results at actual exchange rates (at | Exchange differences | Underlying results at | |
Other financial KPIs - £m | ||||||
Profit before tax | 175 | (29) | (5) | 141 | (1) | 140 |
Profit after tax | 129 | (21) | (4) | 104 | (1) | 103 |
Earnings | 119 | (20) | (2) | 97 | - | 97 |
Earnings per share - p | 7.7 | (1.3) | (0.1) | 6.3 | - | 6.3 |
Operating cash flow1 | 209 | (36) | (9) | 164 | - | 164 |
1 Underlying operating cash flow as originally stated of £206m has increased by £3m to reflect an IFRS 16 adjustment identified when finalising the 2019 Integrated Report and Accounts.
Reconciliation to statutory results - £m
Restated underlying results at actual exchange rates (at | Disposed businesses (including disposals not yet completed (a) | Onerous contracts | Restructuring and separation | Specific and other separately disclosed items | Statutory results at actual exchange rates | Exchange differences | Statutory results at | |
Revenue | 3,442 | 305 | 60 | 3,807 | (53) | 3,754 | ||
Adjusted PBITA | 196 | 38 | - | 234 | (1) | 233 | ||
Profit before tax | 141 | 34 | 9 | (36) | (40) | 108 | 8 | 116 |
Profit after tax | 104 | 25 | 7 | (29) | (38) | 69 | 8 | 77 |
Earnings | 97 | 22 | 7 | (29) | (38) | 59 | 8 | 67 |
Earnings per share - p | 6.3 | 1.4 | 0.5 | (1.9) | (2.5) | 3.8 | 0.5 | 4.3 |
Operating cash flow | 164 | 47 | (1) | (18) | - | 192 | - | 192 |
Reconciliation from segmental and total Group results for the year ended
Underlying results at actual exchange rates (at FY 2019) | Businesses sold and completed or closed since FY 2019 (a) | Businesses sold since FY 2019 but not yet completed (a) | Restated underlying results at actual exchange rates (at | Exchange differences | Underlying results at | |
Revenue - £m | ||||||
425 | - | - | 425 | (24) | 401 | |
2,703 | (9) | - | 2,694 | (55) | 2,639 | |
940 | (24) | - | 916 | (25) | 891 | |
2,504 | (26) | (25) | 2,453 | (16) | 2,437 | |
Cash Solutions | 1,100 | (477) | (64) | 559 | (17) | 542 |
Total Underlying | 7,672 | (536) | (89) | 7,047 | (137) | 6,910 |
Adjusted PBITA (b) - £m | ||||||
30 | - | - | 30 | (2) | 28 | |
136 | - | - | 136 | - | 136 | |
70 | (1) | - | 69 | (2) | 67 | |
179 | - | (4) | 175 | (1) | 174 | |
Cash Solutions | 134 | (65) | (12) | 57 | (1) | 56 |
Total before corporate costs | 549 | (66) | (16) | 467 | (6) | 461 |
Corporate costs | (48) | - | - | (48) | - | (48) |
Total Underlying | 501 | (66) | (16) | 419 | (6) | 413 |
Underlying results at actual exchange rates (at FY 2019) | Businesses sold and completed or closed since FY 2019 (a) | Businesses sold since FY 2019 but not yet completed (a) | Restated underlying results at actual exchange rates (at | Exchange differences | Underlying results at | |
Other financial KPIs - £m | ||||||
Profit before tax | 383 | (64) | (12) | 307 | (4) | 303 |
Profit after tax | 280 | (47) | (9) | 224 | (3) | 221 |
Earnings | 263 | (44) | (6) | 213 | (3) | 210 |
Earnings per share - p | 17.0 | (2.8) | (0.4) | 13.8 | (0.2) | 13.6 |
Operating cash flow | 633 | (95) | (24) | 514 | - | 514 |
Reconciliation to statutory results - £m
Restated underlying results at actual exchange rates (at | Disposed businesses (including disposals not yet completed (a) | Onerous contracts | Restructuring and separation | Specific and other separately disclosed items | Statutory results at actual exchange rates | Exchange differences | Statutory results at | |
Revenue | 7,047 | 625 | 86 | 7,758 | (148) | 7,610 | ||
Adjusted PBITA | 419 | 82 | - | 501 | (8) | 493 | ||
Profit before tax | 307 | 76 | 18 | (57) | (317) | 27 | 5 | 32 |
Profit after tax | 224 | 56 | 15 | (49) | (326) | (80) | 7 | (73) |
Earnings | 213 | 50 | 15 | (49) | (320) | (91) | 7 | (84) |
Earnings per share - p | 13.8 | 3.2 | 1.0 | (3.2) | (20.7) | (5.9) | 0.5 | (5.4) |
Operating cash flow | 514 | 119 | 5 | (47) | (87) | 504 | - | 504 |
a) To present results on a consistent and comparable basis, the results of any businesses sold or closed in either the current or prior periods (including those subject to the Group’s irrevocable sales agreement with Brink’s, announced on
b) Adjusted PBITA is an Alternative Performance Measure as defined in page 53 of the 2019 Integrated Report and Accounts.
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