Financial performance and KPIs

Performance highlights

For the 52 weeks ending 14 September 2024

£20.1bn

Group revenue

£1,998m

Adjusted operating profit*

£1,281m

Gross investment*

193.7p

Basic earnings per share

£1,932m

Operating profit

£1,917m

Profit before tax

£1,957m

Adjusted profit before tax*

196.9p

Adjusted earnings per share*

£1,044m

Net cash before lease liabilities*

£2,021m

Net debt including lease liabilities*

18.1%

Return on average capital employed* (‘ROACE’)

90.0p

Dividends per share (including special dividend)

*Alternative Performance Measures (APMs) as defined on pages 206 to 210 in the Annual Report.

KPIs

For the 52 weeks ending 14 September 2024

Financial measures
Non-financial measures

We use key performance indicators (KPIs) to measure our progress in delivering the successful implementation of our strategy and to monitor our performance.

Revenue is a measure of business growth. Constant currency comparisons are also used to provide greater clarity of performance.

Adjusted profit and earnings measures provide a consistent indicator of performance year-on-year and are aligned with management incentive targets.

The Group’s organic growth objective aims to deliver steady growth in earnings over the long term.

A measure of the commitment to the long-term development of the business.

The free cash flow measure represents the cash that the Group generates from its operations after maintaining and investing in its capital assets.

This measure monitors the Group’s liquidity and capital structure and is used to calculate the Group’s liquidity ratio.

This measure monitors the level of return generated by the Group’s investment in its operating assets. It is also a key part of management incentive targets.

This measure monitors the Group’s financial strength to ensure long-term financial stability.

The Group’s organic growth objective aims to deliver steady growth in dividends over the long term. This included the payment of special dividends of 13.8p, 12.7p and 27.0p in 2021, 2023 and 2024 respectively.

*APMs as defined on pages 206 to 210 of the Annual Report.

Each business develops KPIs relevant to its operations. These are monitored regularly. In the case of adjusted operating profit and return on average capital employed, we use them as metrics to incentivise our management teams.

We use key performance indicators (KPIs) to measure our progress in delivering the successful implementation of our strategy and to monitor our performance.

A measure of the Group’s management of the health and safety of its employees – the number of on-site lost time injuries resulting from an accident arising out of, or in connection with, on-site work activities and the proportion of the full-time equivalent workforce experiencing a lost time injury.

Measure of the scale and diversity of our operations. Reflecting all employees in the Group with a contract of employment, whether full-time, part-time, contractor or seasonal worker and highlighting the number of countries of operation.

The proportion of our employees that have disclosed their gender as female/woman in line with the local legislation.

The amount of ABF Group Scope 1 and 2 (location-based) greenhouse gas emissions.

The amount of Primark’s Scope 1, 2 (location-based) and 3 greenhouse gas emissions.

Total energy used and the proportion of which is from renewable sources. Renewable energy is mainly generated on our sites from biogenic sources.

These two measures represent the retail space growth and breadth of Primark’s presence.

A measure of the total waste generated in our own operations and the proportion of waste sent for recycling or other beneficial use instead of being sent to landfill for disposal.

This measure includes water supplied by third parties or from local water resources.

The Group data in this report on our environmental and safety KPIs covered the period 1 August to 31 July, excluding Primark selling space and number of countries of operation and employee numbers.

Δ EY has provided limited independent assurance over the 2024 metrics. See page 140 of the Annual Report 2024 for EY’s assurance statement.

* Prior year numbers have been represented to reflect where ABF has financial control as described on page 55 of the Annual Report 2024.

** The 2023 numbers are restated to correct an understatement in steam in the Scope 2 emissions numbers, impacting GHG emissions and energy consumed.

Responsibility

Learn more about the responsible initiatives and efforts across our business.

How we create value

We are a diversified group organised into five segments. Find out how we create long-term value for our stakeholders.