Annual financial statement
Page 1
9 March 2021 Domino's DOMINO'S PIZZA GROUP PLC Full year results for the 52 weeks ended 27 December 2020 Strong trading through Covid - 19 ; growth in system sales , profit and cash Launch of new strategic plan to deliver £ 1.6bn to £ 1.9bn of system sales 52 wks ending 27 Dec 2020 52 wks ending 29 Dec 2019 5 System sales¹ Like - for - Like system sales growth ( exc.splits ) 2 Underlying EBIT³ Underlying³ profit before tax Underlying basic EPS Net debt4 Statutory profit after tax Statutory basic EPS All commentary below is on an underlying basis unless otherwise stated Financial highlights • £ 1,348.4m 10.3 % £ 1,210.9m 3.7 % £ 109.0m £ 105.3m £ 101.2m £ 98.8m 18.2p £ 171.8m £ 39.7m 17.6p £ 232.6m £ 2.8m 8.9p 2.8p Strong UK & Ireland performance , with system sales of £ 1,348.4m , up 11.4 % with like - for - like system sales , excluding splits , up 10.3 % ( 9.3 % including splits ) • Underlying profit before tax of £ 101.2m , up £ 2.4m , with Covid - 19 costs incurred of £ 9.0m to support franchisees to trade safely • Statutory profit after tax of £ 39.7m , up from £ 2.8m , with non - underlying charges reduced to £ 2.1m ( 2019 : £ 21.8m ) and loss on discontinued international operations reduced to £ 42.5m ( 2019 : £ 56.5m ) , including £ 22.6m ( 2019 : £ 35.2m ) of impairments of international operations • Free cash flow increased by 73 % to £ 99.0m ( 2019 : £ 57.1m ) • • Disciplined cash management leading to net debt reduced by 26 % to £ 171.8m , driven by trading performance and actions taken to preserve headroom £ 45m share buyback programme , effective imminently , in line with new capital allocation philosophy and commitment to distribute surplus capital to shareholders Total dividend for FY20 of 9.1p per share proposed as a final dividend to be paid on 4 May 2021 Operational highlights • • Transformed Board and Executive Leadership teams have focused on leading the business through the challenges resulting from Covid - 19 Remained open throughout the year with strong growth in delivery offsetting significant Covid - 19 impact on collection business Digital transformation of the business accelerated through the year , UK online sales up 23.9 % and App sales up 26.2 % . Online sales now account for 94.3 % of delivery sales in UK Maintained constructive engagement with our franchisees and have made an attractive offer to the Domino's franchisees in an attempt to reset relationship Disposal of discontinued International operations progressing Norway disposal completed in May 2020 , contract exchanged on disposal of Sweden , completion expected in May 2021 , with Iceland and Switzerland disposal processes ongoing