30 Jun 2020 10:39
30 June 2020
Applegreen plc
Annual Audited Accounts
Applegreen plc (the "Group" or the "Company"), the roadside convenience retailer today provides an update on its audited accounts for the year ended 31 December 2019.
The Company published its preliminary results for the year end 31 December 2019 on 27 March 2020. The audit process for these results, and in particular the audit of the Welcome Break business, has been delayed by the impact of COVID-19 and it is now expected that the audited accounts will be published shortly during the course of July. Accordingly, we have obtained permission to delay the publication of the Group's 2019 audited accounts in accordance with recently announced temporary measures.
For further enquiries, please contact: | |
Applegreen | +353 (0) 1 512 4800 |
Bob Etchingham (CEO) | |
Niall Dolan (CFO) | |
Drury Porter Novelli (Ireland PR Adviser) | +353 (0) 1 260 5000 |
Paddy Hughes | |
MHP Communications (UK PR Adviser) | +44 (0) 20 3128 8742 |
Simon Hockridge | |
Peter Hewer | |
Alistair de-Kare Silver | |
Shore Capital | +44 (0) 20 7408 4090 |
Stephane Auton | |
Patrick Castle | |
Daniel Bush | |
Goodbody | +353 (0) 1 667 0420 |
Joe Gill | |
Richard Tunney |
About Applegreen
Applegreen plc is a high growth roadside convenience retail business operating in Ireland, the United Kingdom and North America. The growth pillars of the business are based on growing food to become the dominant profit stream and therefore reducing the dependency on fuel, partnering with premium food-to-go brands and focusing on value accretive acquisitions.
The Applegreen brand is based on competitive fuel pricing that drives in-store footfall with an innovative food and beverage offer focussed on our customers' needs. Improving the customer journey to inspire loyalty is central to what we do, ensuring we provide a smooth and enjoyable experience.
We are committed to driving shareholder value by deploying the best operational practices, a cost optimisation focus, coupled with disciplined capital allocation.
Combined with organic growth from existing sites, our growth strategy is focused on establishing a presence in new markets by developing traditional fuel forecourts with a branded food offer and, when significant scale has been achieved, entering the larger service areas on strategic road networks and enhancing the more resilient non-fuel contribution. The final stage involves vertical integration of the supply chain or fuel distribution. Applegreen is at different stages of this lifecycle in its three markets.
Applegreen is the number one Motorway Service Area Operator (MSA) in the Republic of Ireland and the number two Motorway Service Area Operator in the United Kingdom. MSA sites are strategic infrastructure assets that have high barriers to entry due to long development lead times and government legislation. There will be increased focus on MSA growth in these regions.
We have now established a large Petrol Filling Station (PFS) footprint in the US and our aim is to expand our presence as a recognised operator of large Service Area sites on strategic road networks in that market.
The management team has a strong track record of delivery and the talent pipeline will underpin our expansion in the three markets.
As at December 2019, the business operated 556 forecourt sites and employed c.11,798 people.