Annual report
Page 1
Legal Entity Identifier ( LEI ) No. 2138008M6MH9OZ6U2T68 Revenue Operating profit Operating margin Earnings per share Free cash flow Operating cash flow Annual dividend per share Full year results announcement for the year ended 30 September 2021 Underlying¹ results 2020 £ 19.2 billion² £ 522 million² 2021 £ 18.1 billion £ 811 million 4.5 % COMPASS GROUP 29.5 pence £ 660 million 2.9 % 17.1 pence² £ 213 million Change ( 6.3 ) % ³ 55.4 % ² Annual Results Announcement 160bps 72.5 % ² 209.9 % 1 Statutory results 2020 2021 £ 17.9 billion £ 545 million 3.0 % 20.0 pence £ 1,171 million 14 pence Focused on growth following a year of strong recovery £ 19.9 billion £ 294 million 1.5 % 8.0 pence £ 845 million Change ( 10.2 ) % 85.4 % 150bps 150.0 % 14 pence 1. Reconciliation of statutory to underlying results can be found in notes 2 ( segmental analysis ) , 5 ( earnings per share ) and 13 ( non - GAAP measures ) of the consolidated financial statements . 2. Measured on a constant currency basis . 3 . Organic revenue change . 38.6 % Performance summary Underlying revenue recovered to 88 % of 2019 revenue by Q4 . FY underlying revenue 77 % of 2019 Underlying margin improved to 5.8 % in Q4 . FY underlying margin of 4.5 % Strong FY operating cash flow of £ 1 billion whilst maintaining gross capex at 3.6 % of underlying revenue . Reduced leverage ratio to 1.6x Reinstating the dividend with a payout policy of c.50 % of underlying earnings Operational highlights Healthcare & Senior Living and Defence , Offshore & Remote sectors performed well above pre - pandemic volumes , with strong recovery in Education and Sports & Leisure by Q4 Record new business wins of £ 2.1 billion , with around half from first time outsourcing and client retention of 95.4 % Announced a global commitment to deliver net zero by 2050 , including validated Science Based Targets to 2030 Strategy Focused on growth : Significant structural opportunities , especially in first time outsourcing Enabled by our strategic priorities : evolution of our operating model , innovation and digital , investing in capex and M & A and sustainability commitments Outlook FY22 organic revenue growth expected to be 20 % -25 % FY22 underlying operating margin anticipated to be over 6 % , with an exit rate of c.7 % Progress expected to be weighted towards the second half of the year due to mobilisation costs and inflationary pressures during H1 Statutory results Statutory revenue decreased by 10.2 % due to the pandemic's continuing impact on our operations Statutory operating profit increased by 85.4 % to £ 545 million reflecting actions taken to control the controllable , including resizing the cost base and improved cost control