Interim Results Announcement


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Interim Results and Strategy UpdateInterim Results and Strategy Update
Kevin O'Byrne - Chief Financial OfficerKevin O'Byrne - Chief Financial Officer
AgendaAgenda
Group performace overviewGroup performace overview
Group performace overviewGroup performace overview
Retail sales growth by categoryRetail sales growth by category
Sales performance versus marketSales performance versus market
GM&C performance versus marketGM&C performance versus market
Underlying profit before taxUnderlying profit before tax
Financial Services: UPBT bridgeFinancial Services: UPBT bridge
Financial Services: management actionFinancial Services: management action
Financial Services: quality of bookFinancial Services: quality of book
Financail Services: balance sheetFinancail Services: balance sheet
Items excluded from underlying resultsItems excluded from underlying results
Net debt and retail free cash flowNet debt and retail free cash flow
Balance sheet targetsBalance sheet targets
Summary and OutlookSummary and Outlook
Simon Roberts - Chief Executive OfficerSimon Roberts - Chief Executive Officer
AgendaAgenda
COVID-19COVID-19
H1 digital sales £5.8bnH1 digital sales £5.8bn
90% of Argos sales are now online90% of Argos sales are now online
Customers are positive about how we are handling the crisisCustomers are positive about how we are handling the crisis
Dynamic market conditionsDynamic market conditions
Key consumer trends and prioritiesKey consumer trends and priorities
Building on our brand and strong assetsBuilding on our brand and strong assets
Listening to our stakeholdersListening to our stakeholders
Driven by our passion for foodDriven by our passion for food
In the next 3 years we will transform our businessIn the next 3 years we will transform our business
What will be different?What will be different?
7 key metrics7 key metrics
Food FirstFood First
Delivering better value to customersDelivering better value to customers
We will reignite food innovationWe will reignite food innovation
We will reignite food innovationWe will reignite food innovation
Our Net Zero sustainability planOur Net Zero sustainability plan
Groceries Online: growing volume, improving profitabilityGroceries Online: growing volume, improving profitability
Groceries Online: driving productivitiyGroceries Online: driving productivitiy
Convenience: accelerating our ambitionConvenience: accelerating our ambition
Brands that DeliverBrands that Deliver
Argos: accelerating store rationalisationArgos: accelerating store rationalisation
Argos: lower cost to serve, improved customer offerArgos: lower cost to serve, improved customer offer
Expanding the reach of the Habitat brandExpanding the reach of the Habitat brand
Nectar: supporting Food First, accelerating media revenue plansNectar: supporting Food First, accelerating media revenue plans
Nectar: supporting the portfolio, growing the coalitionNectar: supporting the portfolio, growing the coalition
Financial ServicesFinancial Services
Save to InvestSave to Invest
Strategic cost reduction: £600m additional headroomStrategic cost reduction: £600m additional headroom
Key cost reduction imperativesKey cost reduction imperatives
Technology investment supporting performance and efficiencyTechnology investment supporting performance and efficiency
Creating the team to deliverCreating the team to deliver
What will be different?What will be different?
Delivering for shareholdersDelivering for shareholders
In the next 3 years we will transform our businessIn the next 3 years we will transform our business
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Interim Results and Strategy Update
Interim Results and Strategy Update
Kevin O'Byrne - Chief Financial Officer
Kevin O'Byrne - Chief Financial Officer
Agenda
Agenda
Group performace overview
Group performace overview
Group performace overview
Group performace overview
Retail sales growth by category
Retail sales growth by category
Sales performance versus market
Sales performance versus market
GM&C performance versus market
GM&C performance versus market
Underlying profit before tax
Underlying profit before tax
Financial Services: UPBT bridge
Financial Services: UPBT bridge
Financial Services: management action
Financial Services: management action
Financial Services: quality of book
Financial Services: quality of book
Financail Services: balance sheet
Financail Services: balance sheet
Items excluded from underlying results
Items excluded from underlying results
Net debt and retail free cash flow
Net debt and retail free cash flow
Balance sheet targets
Balance sheet targets
Summary and Outlook
Summary and Outlook
Simon Roberts - Chief Executive Officer
Simon Roberts - Chief Executive Officer
Agenda
Agenda
COVID-19
COVID-19
H1 digital sales £5.8bn
H1 digital sales £5.8bn
90% of Argos sales are now online
90% of Argos sales are now online
Customers are positive about how we are handling the crisis
Customers are positive about how we are handling the crisis
Dynamic market conditions
Dynamic market conditions
Key consumer trends and priorities
Key consumer trends and priorities
Building on our brand and strong assets
Building on our brand and strong assets
Listening to our stakeholders
Listening to our stakeholders
Driven by our passion for food
Driven by our passion for food
In the next 3 years we will transform our business
In the next 3 years we will transform our business
What will be different?
What will be different?
7 key metrics
7 key metrics
Food First
Food First
Delivering better value to customers
Delivering better value to customers
We will reignite food innovation
We will reignite food innovation
We will reignite food innovation
We will reignite food innovation
Our Net Zero sustainability plan
Our Net Zero sustainability plan
Groceries Online: growing volume, improving profitability
Groceries Online: growing volume, improving profitability
Groceries Online: driving productivitiy
Groceries Online: driving productivitiy
Convenience: accelerating our ambition
Convenience: accelerating our ambition
Brands that Deliver
Brands that Deliver
Argos: accelerating store rationalisation
Argos: accelerating store rationalisation
Argos: lower cost to serve, improved customer offer
Argos: lower cost to serve, improved customer offer
Expanding the reach of the Habitat brand
Expanding the reach of the Habitat brand
Nectar: supporting Food First, accelerating media revenue plans
Nectar: supporting Food First, accelerating media revenue plans
Nectar: supporting the portfolio, growing the coalition
Nectar: supporting the portfolio, growing the coalition
Financial Services
Financial Services
Save to Invest
Save to Invest
Strategic cost reduction: £600m additional headroom
Strategic cost reduction: £600m additional headroom
Key cost reduction imperatives
Key cost reduction imperatives
Technology investment supporting performance and efficiency
Technology investment supporting performance and efficiency
Creating the team to deliver
Creating the team to deliver
What will be different?
What will be different?
Delivering for shareholders
Delivering for shareholders
In the next 3 years we will transform our business
In the next 3 years we will transform our business
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