B&M EUROPEAN VALUE RETAIL S.A. Big Brands Big Savings
B&M European Value Retail S.A.
Annual Report and Accounts 2016
Strategic Report
Highlights 01
Company overview 02
Product overview 03
Chairman's statement 04
Our business model 06
Chief Executive's review 08
Our markets 10
Our strategy 12
Store expansion 14
Financial review 16
Key performance indicators 19
Operational logistics 20
Principal risks and uncertainties 22
Product sourcing 26
Corporate social responsibility 28
Governance Report
Board of Directors 32
Corporate governance statement 34
Audit & Risk Committee report 39
Directors' remuneration report 42
Directors' report and business review 51
Statement of Directors' responsibilities 55
Financial Statements
Independent Auditor's report 56
Consolidated statement of comprehensive income 57
Consolidated statement of financial position 58
Consolidated statement of
changes in shareholders' equity 59
Consolidated statement of cash flows 60
Notes to the consolidated financial statements 61
Independent Auditor's report 99
Company balance sheet 100
Company profit and loss account 101
Notes to the annual accounts 102
B&M is a limited range discount retailer with
stores across the UK and in Germany, serving over three million customers weekly and offering an assortment of housewares, home textiles, small electrical goods, DIY, garden, grocery and FMCG products.
Our unique offer is all about helping our customers' household budgets go that bit further by delivering great value day in, day out, so that they can spend less on everyday items for their homes and families.
B&M's UK store estate at the year-end 2015/16 was 499 stores and we passed another milestone on our journey to create a chain of 850 or more stores nationwide in the UK with the opening of our 500th store in April following the year end.
In Germany our Jawoll store estate at the year-end totalled 56 stores with expansion plans in place to accelerate the growth of our network during the year ahead as we build our position in another of Europe's largest consumer markets.
01
HighlightsGroup revenues
+23.6%2016: £2,035.3m
2015: £1,646.8m
Adjusted EBITDA
+16.2%2016: £202.5m
2015: £174.2m
Operating cash flow
+11.8%2016: £170.9m
2015: £152.9m
Group revenues have increased by 23.6% to £2,035.3m
UK Store estate
Con+ten1ts7.4%
Group adjusted EBITDA increased by 16.2% to £202.5m
Adjusted profit before tax increased by 19.5% to £161.4m
Net cash flow from operations
£170.9m, an increase of 11.8%
Continued investment in infrastructure and a reduction in net debt to Adjusted EBITDA to 1.75 times
74 net new UK stores opened, growing the estate by 17.4% to 499 stores in the UK
Strong pipeline of new stores and on track to achieve 50 net new UK store openings in FY17
02 B&M European Value Retail S.A. Annual Report and Accounts 2016
Company overviewOur objective is to deliver
great value for money to customers across a broad range of product categories, together with a fun and appealing shopping experience throughout our fast growing chain of stores in the UK and Germany.
Geographical overview499 B&M stores in the UK 2016
Liverpool - Head office
56 Jawoll stores
in Germany 2016
Soltau - Head office
Northern Ireland
29Scotland
59North West
107Wales
27South West
27North East / Yorkshire
88Midlands
88South East
74Revenue £1,902.6m | Adjusted PBT £151.9m | New locations 74 | Revenue £132.7m | Adjusted PBT £9.5m | New locations 6 |
+24.7% | +19.3% | +17.4% | +10.0% | +23.5% | +12.0% |
Employees | Employees | ||||
22,351 +18.8% | 1,242 +8.4% |
B&M European Value Retail SA published this content on 24 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 24 June 2016 09:36:07 UTC.
Public permalinkhttp://www.publicnow.com/view/CCFE6CCF7211F2F85FDADD1FD60D8AF08DC3FC74
