An B&M European Value Retails S.A announce an interim dividend of 5.1p per Ordinary Share will be paid on 15 December 2023 to shareholders on the register at 17 November 2023. The ex-dividend date will be 16 November 2023. The dividend payment will be subject to a deduction of Luxembourg withholding tax of 15%.
Other financial highlights include:
Group revenues increased by 10.4% on prior year to £2,549m (+10.3% constant currency)
Group adjusted EBITDA (pre-IFRS 16) of £269m and margin of 10.5% (H1 FY23: 10.0%) represents 16.1% growth vs. last half year (H1 FY23: £232m)
Group adjusted operating profit increased 19.1% to £263m (H1 FY23: £221m), with statutory operating profit of £275m (H1 FY23: £248m) and statutory profit before tax of £222m (H1 FY23: £201m)
Group inventory in a clean exit position of £856m (H1 FY23: £837m)
Group cash generated from operations was £352m (H1 FY23: £370m), reflecting a normalised working capital movement with strong stock availability ahead of the Golden Quarter across the three fascias
All fascias trading well with positive transaction numbers and new space growth
Now expect to reach not less than 1,200 B&M UK stores in total, vs. previous guidance of 950
Opened 28 gross new stores across the Group (13 in B&M UK, 10 in Heron Foods and 5 in B&M France). Total average selling area increase continues to outpace the increase in number of stores
Net debt to adjusted EBITDA4 (pre-IFRS 16) leverage ratio of 1.1x (H1 FY23: 1.3x)
FY24 Group adjusted EBITDA (pre-IFRS 16) guidance, increased to be in the range of £620m - £630m, materially higher than FY23 (£573m)
