Full Year Presentation to holders of our £450m 3.375% bonds due 2025 £300m 2.375% Green bonds due 2027 £250m 3.000% Green bonds due 2031
Contents
Key messages
Nicholas Cadbury
p3
Full year to 25th February 2021
Nicholas Cadbury
p4
Looking forward
Nicholas Cadbury
p12
Force for Good
Nicholas Cadbury
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Credit highlights
Nicholas Cadbury
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Looking forward
Key messages
Premier Inn market share gains in the UK and building a national network in Germany
Full year to 25 February 2021
Operations
Rapid and decisive response to COVID-19
Out-performedcompetitors and market share gains Balance sheet and liquidity
£1bn equity issue
Fitch downgrade from BBB to BBB-, not unexpected in the circumstances, we are pleased that outlook is 'stable'
High liquidity, assisted by Green bond issues
Reduced growth CapEx, but maintained appropriate level to position ourselves for the upturn in the UK and Germany
Strong lending bank support: RCF maturity extended and covenants waived/amended
£4.2bn freehold and long leasehold real estate book value
Focus on cash flow and returning to investment grade metrics
Brand strength and commercial initiatives driving demand
Investing in refurbishments and marketing, and focus on opening UK pipeline at good returns
Expanding pipeline in Germany
Focus on efficiencies: new 3-year £100m cost saving programme
Well-investedestate is poised to benefit from cyclical recovery as markets and economies reopen
Force For Good sustainability programme underpins strategy and operations
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FULL YEAR TO 25 FEBRUARY 2021
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UK Premier Inn: Resilient occupancy levels despite COVID-19 impact
First
Lockdown
National
Second
Third
lockdown
restrictions
restrictions
lockdown
lockdown
starts
eased
introduced
Premier Inn UK occupancy levels:
(normal occupancy levels in the high 70%s)
58%
51%
52%
40%
35%
31%
33%
29%
24%
23%
1% 2% 3%
Mar 20
Apr 20
May 20
Jun 20
Jul 20
Aug 20
Sep 20
Oct 20
Nov 20
Dec 20
Jan 21
Feb 21
Mar 21
Rapid and decisive action to protect the business
Protecting customers and staff
Acting responsibly
Protecting liquidity and strengthening financial position
5
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Disclaimer
Whitbread plc published this content on 19 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2021 06:03:01 UTC.
Whitbread PLC is a leading British hotel, restaurant, and coffee shops. Net sales break down by activity as follows:
- hotel operations (72.2%; No. 1 in the United Kingdom): owns, as of 02/03/2023, 898 hotels under the Premier Inn brand, mainly located in the United Kingdom (847; 83,500 rooms) and Germany (51; 9,000 rooms) ;
- operation of restaurants (27.8%): owns 800 restaurants and pubs under the Premier Inn, Beefeater, Brewers Fayre, Table Table, Cookhouse & Pub, Bar+Block and Thyme brands;
- other (0.4%).
Net sales are distributed geographically as follows: the United Kingdom and Ireland (94.8%), Germany (4.5%) and other (0.7%).
WHITBREAD PLC 
