Annual Report and Accounts 2020

Building for the future

Getting the fundamentals right

The Covid-19 pandemic has acted as a catalyst for change in our business and has provided the opportunity to accelerate some of our strategic initiatives to strengthen the core of the business and position us well for the future.

The impact of the pandemic meant that our 2020 financial performance was lower than in 2019, but we have demonstrated great resilience.

Getting it right for our:

Colleagues, customers, suppliers and shareholders

Customers - see page 16

Strategy - see page 18

Suppliers - see page 65

Colleagues - see page 66

Strategic report

Governance

Financial statements Other information

www.travisperkins.co.ukwww.toolstation.comwww.benchmarxkitchens.co.ukwww.bssindustrial.co.ukwww.ccfltd.co.ukwww.keyline.co.ukwww.wickes.co.ukwww.cityplumbing.co.ukwww.theunderfloorheatingstore.com

Travis Perkins plc Annual Report and Accounts 2020

1

What's in our report

Strategic report 3

Governance 75

Financial statements 121

Other information 189

Strategic report

  • 3 Financial performance

  • 4 At a glance

  • 6 Chairman's statement

  • 8 Chief Executive's report

  • 12 Investment case

  • 14 Market dynamics

  • 16 Business model

  • 18 Our ambition & strategy

  • 24 Strategy in action

  • 26 Key performance indicators (KPIs)

  • 28 Business performance and priorities

    • 32 Merchanting

    • 34 Plumbing & Heating

    • 35 Toolstation

    • 36 Wickes highlights

  • 40 Financial performance

  • 44 Statement of principal risks and uncertainties

  • 52 Sustainability overview

  • 71 Section 172 statement

  • 73 Non-financial information statement

Governance

  • 76 Board of Directors

  • 78 Chairman's introduction

  • 79 Corporate governance report

  • 84 Nominations Committee report

  • 87 Audit Committee report

  • 93 Directors' Remuneration report

  • 97 Remuneration Policy report

  • 105 Annual Remuneration report

  • 117 Directors' report

  • 119 Statement of Directors' responsibilities

Financial statements

  • 122 Independent Auditor's report

  • 131 Consolidated income statement

  • 131 Consolidated statement of comprehensive income

  • 132 Consolidated balance sheet

  • 133 Consolidated statement of changes in equity

  • 134 Consolidated cash flow statement

  • 135 Notes to the consolidated financial statements

  • 179 Company balance sheet

  • 180 Company statement of changes in equity

181

Notes to the Company's financial statements

Other information

190 Five-year summary

192 Other shareholder information

Throughout the Strategic Report, and consistent with prior years, alternative performance measures ("APMs") are used to describe the Group's performance. These are not recognised under IFRS or other generally accepted accounting principles ("GAAP"). The Board manages and assesses the performance of the business on these measures and believes they are more representative of ongoing trading and facilitate meaningful year-on-year comparisons and hence provide useful information to shareholders. APMs are defined in the notes to the financial statements and reconciled to the closest GAAP measure.

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Travis Perkins plc Annual Report and Accounts 2020

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Travis Perkins plc published this content on 26 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2021 10:02:09 UTC.