Hello, everyone, and thank you for your time today. Before handing over to the digital and commercial experts, I'd like to give you some context as to why digital is so important for our business. Today, digital is a right to entry in every client proposal and a clear growth enabler. Data and insight are also becoming intrinsic in our client partnerships, providing us with a significant competitive advantage in the market. As well as contributing to stronger growth, digital can unlock operating efficiencies and further enhance our ESG proposition, particularly through reducing food waste. While we've been investing in technology for many years now, both organically and through M&A, more recently this transformation has accelerated as we've developed new digitally enabled operating models. We then shared these innovations and best practice rapidly across our businesses. Our scale and strong balance sheets mean that we have the resources to commit further investment to this very important area. Our 55,000 client locations provide us with the greatest opportunity to leverage these capabilities. And finally, while we've made great progress so far, remember that we're only at the beginning of our digital journey. We're excited about the potential for digital to transform our business and further help Compass to capture the huge global outsourcing opportunity. Thank you. Now over to Agatha. Thank you, Dominic. Good afternoon, and welcome to our digital deep dive. I'm Agatha Donnelly, Director of Investor Relations for Compass Group. The intention of today's session is to give you more background on our digital strategy and to showcase some of our exciting digital tools. Today, we've adapted a hybrid event model for your virtual participation. After the presentation, you'll have a chance to ask questions, and you'll be able to download a slide deck from our website. First, a quick reminder of our management and performance or MAP framework. MAP is the common language and reporting structure we use across the entire group. It ensures we're focused on the same performance drivers in all our regions, sectors, and units. As you'll see, digital technology creates tangible benefits across all 5 MAP drivers, whether that's generating revenue from new business wins or higher retention under MAP 1, or like for like growth under MAP 2. Digital also helps us drive efficiencies by reducing food waste and food costs under MAP 3, and improving labor productivity under MAP 4. Finally, we benefit from synergies and shared capabilities under MAP 5. With that, I'll hand over to Shelley and Jugveer. Thank you, Agatha. Hi, everyone. My name is Shelley Roberts, and I've been at Compass since 2017. Prior to this role, I was the managing director of Compass Group in Australia. I became the Group Chief Commercial Officer in January this year. My name is Jugveer Randhawa. I lead Compass Digital in North America and have been with Compass since 2013. Compass Digital was created nearly a decade ago inside Compass Group with a focus on technology innovation to drive growth and customer experience across our various sectors. At Compass, we believe in being digital rather than just doing digital. We're on a journey to digitize not just our customer experience, but also our core business and our operations. Like everything in Compass, being a decentralized organization, we innovate closest to the customer in each of our 44 markets, customizing and tailoring our services to the needs of each client and each sector. For us, digital is a competitive advantage which contributes to growth, unlocks operational efficiencies, and increases engagement with our people. Our IP isn't just in the apps and tools we've developed, it's the way we integrate them into our everyday operations. It all starts with our strategy based on our key pillars of people, purpose, and performance. We're leveraging digital and data in three ways. Firstly, digital provides convenience, knowledge, and choice for our clients and consumers. Secondly, digital enables flexibility, empowerment, and personal development for our teams. And finally, digital helps enhance our ESG proposition. Put simply, digital is the common thread that enables us to drive better performance, be a better partner, be a better employer, and a better corporate citizen. Let's start with the digital team first. Thanks, Shelley. In North America, we have been investing in the development of digital capabilities for nearly a decade. We started with a clear objective of driving innovation from within and to create an industry-specific capability that fits with our unique decentralized model. As we continue to grow, we invested in key areas, either organically or through acquisition, to accelerate our rest of world capability. Today, we have about 1,350 people working across the group with almost half of the population focused on client and consumer-facing tools. Our E15 data analytics team supports insights to grow our new business and direct our existing business to optimize their offer. Of course, we have teams dedicated to specific IT infrastructure projects as well as, importantly, cybersecurity. Globally, our technology strategy is based on market and sector priorities with hubs of excellence in the U.S., U.K., France, and India, where the team support demand-led customization across our key markets. Our transformational journey comes from a deep understanding of business operations. Our tools are built with the operations in mind, and as a result, we spend about 70% of our time focused on existing core capabilities. The other 30% is spent on developing new digital tools. Our philosophy is very simple: think big, start small, and scale fast. We believe that in-house development reduces the risk by providing us with flexibility. Our teams can customize and modify our digital offer. We created a digital excellence network so that we can leverage our scale and share best practice across our regions. This is a network of specialists across the globe that are sharing best practices on product capabilities, implementation processes, and ongoing optimization. Today, we have many digital enablers that are consumer-facing. They range from mobile apps to unattended markets to Just Walk Out technology or unattended bars. The solutions are fundamentally there to provide convenience, variety, and a better overall offer to our customers, and it's unlocking growth. By enabling an on-demand model, we can adjust our offer to varying demand on site or in an office with hybrid working. We can serve clients with small footprints, and we can serve our autonomous markets and other vending solutions. The on-demand model helps us create a better quality and more nutritious meal, as well as reducing food waste by as much as 50%. We focus on enhancing the consumer experience through choice in three ways, pre-order and pickup, Just Walk Out technology, and distributed delivery. Let me share some case studies with you to help illustrate these points. Starting with B&I, which has seen the biggest disruption, we had to design a model that addresses hybrid working and optimizes space utilization. Cafe Next, for example, is reversing the model of moving people through space to get to food and is delivering food to people in any location. The concept is modular, flexible, and customizable. We are leveraging digital to activate different services throughout the day, allowing us to sell more products to more consumers. At the heart of it is a central kitchen, enabling efficiencies in labor and production, resulting in higher output and less food waste. This is particularly beneficial for sites that have varied population levels and still wanna have the choice and variety they had before. Similarly, we know that consumers purchase more through Just Walk Out technology, as seen here at Flutter in Dublin. Consumers can tap their card linked to their payment to open the gates. Once inside, they can pick up any items and just walk out. The technology autonomously tracks what they are putting in their baskets and charges them accordingly. The stats show a 23% increase in sales, a 6.5% increase in average transaction value, and a 30% reduction in labor costs. Let's take a look at education and sports and leisure. Two very different sectors with very different needs. University students are digitally savvy and are looking for convenience, authenticity, and experience. Social interactions are key to the offer and as a result, building existing spaces where students can come together to socialize, work, and eat. We introduced the cook to order model, which is accessed through click and collect locations or delivery on the mobile app. For example, at Brunel University London, which has been operational for the last year, we've seen a 40% increase in sales compared to traditional tills with a double-digit reduction in labor costs and a 33% reduction in food waste. On- and- off campus deliveries represent nearly 20% of all sales, generating additional delivery revenue for us. We have been able to showcase the new operating model to potential clients and have won three further UK university accounts as a result. The teams in our sports and leisure sector know how to maximize the consumer experience through reduced friction, product, and price optimization. They are fantastic at managing large crowds of consumers over short periods of time. Data and business intelligence come into their own here. Our own E15 data analytics team gives us guest insight, which helps us manage queues, predicting consumer behavior with automated forecasting tools. Compass, in collaboration with a partner, has recently launched the first autonomous markets in both the NFL and Major League Baseball. Customers can pick up food and beverages at record speed and get back to their seats quickly to enjoy the game. Here in the U.K., we have replicated the U.S. model and introduced the first go-to-market frictionless customer experience for stadia. The results from four different sites now show 30%-40% increases in sales, double-digit increases in ATV, and 15%-35% labor cost reductions. Thanks, Jugveer. As you know, sectorization is one of our differentiators, which supports our growth. Our digital tools help us enhance sectorization further by responding to individual client needs. The tools can be adapted to different locations and different size units and have features that uniquely serve the needs of each sector. Some clients might use only one solution. Others might opt in for multiple formats across their larger footprint. We can dial the Compass Digital toolkit up or down in line with our clients' changing requirements to deliver enhanced experience. Our operators have the right mix of expertise to enable this. The healthcare sector is a good example where we often offer multiple services. In this space, digital is enabling us to transform the offer. For example, by offering patients tablet ordering from their bed or providing an exceptional hospitality experience for visitors and hospital staff who can use consumer-facing apps, which allow them to collect their orders from unattended markets 24/7, giving them more flexibility. Customers are responding well to this flexible offer, which has been generating a 20% uplift in sales. Our consumer-facing platforms are further supported by technology and data and our back-of-house operations. We use many proprietary solutions that link procurement to individual units, food orders to kitchen operations and the cleaning, marketing and promotions or recruitment and engagement. Data has been increasingly relevant for forecasting demand, optimizing labor or managing volatile supply chain, particularly in the current environment. We have three great examples in North America and Australia. When it comes to medically tailored diets in healthcare and senior living, compliance and traceability are of crucial importance. MyDining is a proprietary solution in North America to manage patient food ordering in acute care hospitals, and it is integrated with every major electronic health record system. This market-leading solution provides patients with meal optionality matched to their specific dietary requirements while ensuring high levels of patient food safety in every one of the 45 million patient meals served digitally in a year. Our platforms are key in the operation of our patient feeding and are highly valued by our clients, resulting in vested long-term partnerships. One of the biggest risks for residents in the senior living sector is poor nutrition, as many residents simply do not have much of an appetite. Medirest combine their clinical expertise, dietary knowledge and technology to create a solution that captures the residents' consumption and nutritional data using Meal Vision. The digital platform provides the clinical staff and residents' families with insights about the nutritional status of the residents. The defense offshore and remote sector is very unique and exemplifies our level of customization, such as how to serve large populations in some of the most remote regions of the world. Forecasting demand becomes crucial when transporting the food over large distances. In Australia, for example, where many of our sites are very remote, our people and food must travel vast distances to reach our customers, frequently up to 2,000 km. Our proprietary artificial intelligence tools uses machine learning to more accurately predict population levels based on previous error rate, leading to a reduction in food waste and more efficient labor usage. What you've just heard is that digital is enhancing our performance in every element of the MAP framework and adding to the bottom line. Under MAP 1 and 2, digital helps us better serve our clients and improve the customer's journey. Our integrated systems help manage food and labor costs under MAP 3 and 4. In relation to MAP 5, our regions benefit significantly from best practice sharing and synergies from shared capabilities. Digital helps us win new clients and retain existing ones. By tailoring our solutions closely to our clients' needs, we create stickiness for long enduring partnerships. Our relative scale and proprietary digital approach is truly unique for us and a capability our existing and potential clients recognize and express a clear desire for. Jugveer is often presenting to potential clients to talk to them about how we can help them transform their operations and their customer experience. For some clients, it's about cost reductions or space optimization. For others, it's about business continuity or creating a strong employee value proposition. This is why we can't just use an off-the-shelf product or simply roll it out across our sites. We need a cross-functional approach to deliver solutions that support different objectives and operating models. Clients are increasingly looking for real-time insight and transparent reporting to assist them with their business decisions. This is another competitive advantage for Compass. Transparency creates trust and stronger, deeper partnerships. Together, we can use the power of data to improve health and safety, energy efficiency or employee engagement. We can report on risk management, customer satisfaction or financial forecasting, as you've just heard. 32% of our new business wins this year in the UK have been directly linked to our tech-based solutions. Over 60 contracts in the UK have been extended because of our ability to show tangible benefits from our back-of-house solutions. Digital technology and data was a key decision-making point in the last 6 global bids, representing a value of over GBP 300 million. Jugveer, why don't you tell us more about MAP 2? As I explained earlier, e-commerce gives us more flexibility than conventional point of sale platforms and allows us to move away from static models, as well as generate revenues by offering more services during the day. Once again, we use guest insight to enable promotions, personalizations and loyalty, increasing participation and transaction values. Business intelligence also allows us to introduce new products and ensure product quality and consistency. Other tools, such as data scraping, helps us compare pricing and demonstrate the relative value to our clients and consumers. Moving to MAP 3 now, which is a highly relevant area of today's environment, we handle incredible scale in our food procurement through Foodbuy in North America, Canada, Australia and the UK. Although they are at different levels of maturity, they provide significant purchasing benefits and a clear competitive advantage. Foodbuy North America has been established for over 20 years and has developed multiple proprietary tools that capture data on individual products and links them to our menus. This helps us optimize purchasing decisions or re-engineer menus as prices fluctuate. In today's challenging environment, our chefs are constantly updating menus as products are substituted due to cost. The availability of real-time data has reduced the amount of time required to make these product switches across thousands of units at a time. Another strategy which has always featured high on our sustainability agenda is the focus on food waste. As we test different systems, we also use our own proprietary tablet-based waste tracking program called Waste Not 2.0, which has the potential to reduce food waste by up to 50% in a given unit. Globally, we have made a commitment to half food waste by 2030. Thanks, Jugveer. When it comes to people, technology is helping us on our journey to be an employer of choice by giving our people and our business more flexibility. We've created our own in-house digital recruitment tools that allow us to interview and onboard new candidates quickly. Predictive scheduling and shift swapping give our people the opportunity to build their own schedules across different sectors and locations. In the UK, our Constellation platform provides more visibility to our team members, providing them with nearly 50% more shifts to choose from. As a result, we've improved retention of our people. Predictive scheduling also works for individuals who wanna reduce their hours. For example, by offering four-day week shift to our shifts in one unit, we were able to fill long-standing vacancies. Dynamic scheduling can lead to double-digit savings by reducing our reliance on agencies to fill the gaps. Talent attraction and retention is imperative for our business, and we could use apps to communicate directly with our frontline teams with the objective of engaging, educating, and rewarding them. We also believe that no Compass team member should ever have a reason to leave our organization to pursue another career. Our people-centered applications, such as digital academies, help with personal and professional development and give a large number of our colleagues access to e-training over a short period of time. We also use coaching and development resources to empower our people to gain skills that will help them grow into the next leaders of our business. Staying on the topic of people for just a bit longer. We believe that we have the best talent and the most innovative operators in the industry. At our recent leadership conference, we held a global hackathon, a simultaneous live event across three continents. We posed a challenge to cross-functional teams who had just 24 hours to put forward a solution to present live to the audience in the U.K. The Compass Hackathon generated many exciting ideas that we're taking forward into our operations. Just one example is a return on investment tool that evaluates when it's the right time to upgrade your kitchen equipment in order to optimize energy performance. We wanna nourish this innovative spirit and have invested in digital training programs as part of our existing retail excellence program. We've made commitments across all our regions to educate and empower our operators to transform the operating models at their sites and unlock further potential in their units. Finally, MAP 5. We have an incredible network of innovators across the globe who actively share digital learnings, rapidly deploying them and removing duplication to drive real, tangible scale benefits. As you've seen, digital helps us in four ways. Firstly, digital enables us to be a better partner for our clients, leading to higher net new growth. Second, we're improving the consumer journey, resulting in higher penetration and higher average transaction values. Thirdly, our integrated systems help us to reduce food waste and cost, as well as increase productivity in our units. And finally, digital helps engage and empower our frontline teams, leading to higher employee retention. In conclusion, our digital capability is a clear competitive advantage which supports long-term growth and helps unlock further efficiencies. Our strong portfolio of solutions enables us to provide great customer service and contributes to stronger partnerships with all our stakeholders. The success behind our capability is due to our innovative and entrepreneurial teams, strong operators, culinarians, and technology teams. It's a truly multifunctional approach. We're on a mission to transform the food service industry, and we're excited about the opportunities this transformation journey will unlock for Compass. Over to you, Agatha. Thank you, Shelley and Jugveer. I hope you agree that we've built a strong in-house capability which has significant potential to transform our business and to accelerate our strategic priorities. We would like to invite you now to ask your questions, and in order to do that, please click on the link on your screen. Shelley, as we wait for questions to appear, can I start by asking you a question? What is the process that you go through to identify the right tools for the right client? Sure. Well, I mean, as we explained a few minutes ago, it's very much about starting with what's in it for the client. We have a keyword in Compass called WITI. What's in it for you? All of our work starts with understanding what's important to each of our clients, looking at their consumers and understanding what's gonna make the difference to them. So, what's the customer journey? How can we use our bespoke digital tools to improve that customer journey so that we can match bespoke digital with bespoke food. Wonderful. Perhaps, Jugveer, could you tell us how deeply embedded digital is in our business? Agatha, quite a bit. I mean, in the differing areas, obviously the maturity of the technology changes, how deeply penetrated we are, but for example, in healthcare here in the U.S., you know, 80% of our hospitals are running our patient ordering systems. In B&I, about 20% are now mobile-only cafes, which was greatly accelerated through the pandemic. In higher ed, you know, about a third of our campuses run mobile to a great extent. There's definitely room to grow, but we've made a lot of headway so far. Thank you. I see some questions coming through. The first question comes from Vicki Stern from Barclays. Hi, you hear? [Crosstalk] Yep. I hear you. Yep. Hi, everyone. Yes. As far as a few years ago, we used to sort of think about the whole concept of delivery and digital more as a threat than an opportunity for Compass. I guess, while a lot's changed in a few years, and you certainly presented today, how there's just a huge amount of opportunity for the group. Just keen to know, are there any markets where you're looking today at still seeing a sort of threat from delivery companies? If not, sort of why not? Why is that not potentially a concern in some markets as a sort of share loss for you? Thanks. Hi, Vicki. I mean to just share some statistics on delivery. You're right, in 2019, our delivery business in the U.S. was about $250 million. In 2020, that increased to about $400 million. And today, we would estimate that business to be about $1 billion. You saw in the video footage earlier when we looked at Brunel University London, actually 20% of the revenue is now coming from that delivery stream. I think what's quite important is for us to distinguish our delivery model from perhaps other delivery models in the market. That's really our delivery is, rather than being one to one, is one to many. It's very much about leveraging our existing infrastructure, for example, in a university environment where we might deliver to halls of residence or in a workplace where we might deliver to a workplace at a certain time of day, rather than individual orders on a case-by-case basis. Very much still an opportunity that we see, and very much still a growing part of our model, particularly, as we look to evolve our operating models and continue to invest in CPUs. Jugveer, would you like to add to that? Yeah, absolutely. In North America, we're seeing similar trends. You know, we're seeing about the same as far as delivery. I think one important point is that, you know, digital overall is integrated to our offer, as we said. We're not monetizing the transaction. I think as far as a threat, we fundamentally have a different model where it's integrated into our offer, which is proving value with our clients. As Shelley said, again, we are focused on on-campus delivery, which is Compass produced food to our consumers. So you know, it has unlocked some value streams, such as allowing us to deliver from a central cafe to maybe buildings nearby from the same client that can't support a full cafe but still want a level of service. It's definitely unlocked some value. We're always watching the market, but we've really modeled delivery around what is our core business model. Shelley, just one other question on the customization of the tools. That sounds expensive. Can you explain to us what the benefits are of doing that? Sure. Well, really it's about flexibility, for our clients and for our operators, because as we explained, you know, it's very much about bespoke tools that we have to tailor our solutions to our clients' needs. We think if we have in-house capability, we're better able to do that tailoring. I think the other thing is, you know, consumer needs are changing so quickly. If we have that capability in-house, we're really able to evolve that capability. And then thirdly, when we build capability in-house, we're also looking at the front of house benefits as well as the back of house benefits. It's really in the integration of those front of house and back of house benefits that we see the opportunity. Could you tell us a little bit more about CapEx investment? Sure. In terms of the CapEx, you know, we will spend up to 3.5%, and we don't see digital changing that. That is our capital envelope. What we have noticed is that that spend was historically 80% client-facing, which would be refurbishing the dining room. That spend is starting to evolve more towards digital spend, and that is resulting in that moving from 80%- 75% and the digital spend increasing to 25%. We also see a change in terms of spending on software and digital rather than IT hardware. Great. Jugveer, perhaps, could I ask you about the importance of data? Data insight, real-time data. Could you elaborate on that? How important is it for our clients? Yeah. It's incredibly important. I mean, our clients now are asking for data in a real-time way. I think that, you know, we're early on the data journey. Digital platforms do generate, enrich data. You know, we are in the infancy of the journey, but, you know, looking at pricing, looking at creating more value, looking at menu engineering, food costs, food waste, all of those data points are now starting to come in. I think that the area that we're probably doing more, and obviously in the current environment, is pricing and purchasing. There's a ways to go for us. I would say that the digital journey precedes the data journey. You have to generate the data to understand the insights and move forward. I think in pockets of our business, we're seeing some valuable returns on using the data in different ways. Can I just check if there are any questions from the audience? Okay, then maybe I'll do one last one, and then we'll wrap up. Jugveer, could you just give us an insight into the future? What exciting things do you see in our hospitality industry? Absolutely. I mean, this is the most exciting part. Fundamental technologies are changing. You know, when we look at the frictionless markets, those are really born of the ability for computer vision to identify what consumers or humans are doing within a space. I think we're gonna see a lot more there. We've seen automation. You know, the Just Walk Out technologies are helping us build new models. I think AI is a big part. You know, I won't go as far as the metaverse and what's happening there. I think that's very exploratory right now. But, you know, when you look at AI and how we'll be able to automate, you know, or create decision automation, where we can make adaptations in our business into our ecosystems very fast, I think that's gonna be very exciting. Again, we're very early on that, but I'd say those are the two areas that we're most excited about. Thank you, Jugveer. From your perspective, Shelley, would you like to add anything on the client side? Yeah. I mean, I think certainly, you know, we look forward to continuing to work with our clients. I think there is a huge opportunity, as Jugveer said, to leverage data to provide insight to our clients. We're seeing on a number of our global clients at the moment that being able to wrap together all of the operations globally in one dashboard, that anyone in any country or any of their team members can view, to see, for example, how much we're spending on local procurement. Mm-hmm. which we know diversity inclusion is so important to our clients at the moment. We'll continue to invest in these tools. We'll continue to customize them, and I think, you know, a lot we can still do. Wonderful. Thank you very much. Thank you to the speakers, and thank you all for joining us today. Question from Dana. There is a question from Dana. Wonderful. There is a question from Dana. Hi, everyone. I'm actually asking the question on behalf of Jamie Rollo. Jamie has asked. He was saying it would be helpful to get a feeling for what the company will spend on tech this year, perhaps comparing that to 2019, and what OpEx and CapEx will look like. Jamie, as I was mentioning earlier, we would expect to still spend up to our 3.5%. As I mentioned, we are seeing a slight shift in terms of the digital spend becoming a higher proportion of that total 3.5%, but we don't envisage spending any more than the 3.5%. Dana, do you have any other questions on your radar? Nope, that was the only one that came through from Jamie. Thank you. In that case, I'll wrap up and thank you again for joining us, and thank you to the speakers. Have a nice week. Thank you.