2020 PayPoint plc AnnualPayPoint Report
PayPoint plc Annual Report 2020 Who we are
Champions of convenience Contents At PayPoint, our goal is to embed Strategic Report 01 Highlights ourselves at the heart of convenience 02 At a glance retail. With a strong network of over 04 Chairman’s statement 05 Chief Executive’s statement 46,000 sites throughout the UK and 06 Our markets Romania, we make life easier for retailer 08 Business review 10 Business model partners and consumers through 11 Engaging with our stakeholders pioneering retail technology, services 12 Progress against our strategic priorities 15 Strategy and ambitions for 2020/21 and omnichannel payment solutions 18 Strategy in action: Embed PayPoint at the heart of convenience retail serving millions of consumers every week. 20 Key performance indicators 22 Financial review We keep modern lives moving as 28 Strategy in action: Becoming the definitive the definitive convenient parcel point parcel point solution 30 Principal risks and uncertainties provider and maintaining our position 33 Viability statement as market leaders in the pay-as-you-go 34 Strategy in action: Market opportunity in Romania and digital bill payments market. By 36 Purpose and values continually innovating, we are creating 38 People and culture 40 Responsible business unrivalled customer experiences and 43 Section 172(1) Statement sustainable growth. 44 Strategy in action: Innovate future growth and profits Governance 46 Board of Directors 48 Leadership Team 50 Corporate Governance Report 56 Nomination Committee Report 58 Audit Committee Report 64 Directors’ Remuneration Report 82 Directors’ Report 85 Statement of Directors’ responsibilities 86 Independent auditor’s report to the members of PayPoint plc Financial statements 93 Consolidated statement of profit or loss 93 Consolidated statement of other comprehensive income 94 Consolidated statement of financial position 95 Consolidated statement of changes in equity 96 Consolidated statement of cash flows 96 Reconciliation of cash and cash equivalents 97 Company statement of financial position 98 Company statement of changes in equity 98 Company statement of cash flows 99 Notes to the consolidated financial statements 123 Appendix – Market overview sources Shareholder information For more information go to 124 Notice of Annual General Meeting corporate.paypoint.com 132 Officers and professional advisors Strategic Report Governance Financial statements Shareholder information 01 47.2 66.3 120.7 2 Annual Report 2020 Report Annual
PayPoint plc PayPoint 0 0 0 02 02 02 0 0 0 0 0 0 Net corporate debt³ corporate Net Ordinary dividend paid per share per paid Ordinary dividend Ordinary reported dividend per share per Ordinary dividend reported 2 2 -444.7% £3.5m) cash corporate Net (2019: 2 2 2 2 2 2 2 47.2p +2.2% (2019: 46.2p) 39.2p +0% (2019: 39.2p) £12.0m 2 47.2% +0.9ppts (2019: 46.3%) share per earnings Diluted 66.3p +2.3% 64.8p) (2019: Net revenue⁴ Net £120.7m +3.5% (2019: £116.6m) margin⁵ Operating Additional dividend paid per share per paid dividend Additional 36.8p +0.3% (2019: 36.7p) £213.3m +0.8% (2019: £211.6m) +5.7% (2019: £62.8m) (2019: £54.7m) (2019: generation Cash £66.4m Revenue Profit before tax¹ £56.8m +3.8%
Profit before tax excluding exceptional items items exceptional excluding tax before Profit million). £53.8 (2019: million £56.8 was Cash generation is an alternative performance alternative an is generation Cash measure. Refer to the financial review – cash flow and liquidity on page 26 for a reconciliation from tax. before profit Net corporate (debt)/cash (excluding IFRS 16 measure. performance alternative an is liabilities) Refer to note 1 to the financial statements for a reconciliation to cash and cash equivalents. cash and cash to reconciliation a measure. performance alternative an is revenue Net Refer to note 4 to the financial statements for revenue. to reconciliation a profit by net revenue. Operating margin % is an alternative performance alternative an is % margin Operating operating dividing by calculated is and measure
Highlights 1. 2. 3. 4. 5. 02 PayPoint plc Annual Report 2020
At a glance
Our portfolio Embed PayPoint at the heart of convenience retail et re enue