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|Blue , it all depends on their supply agreements . They use Greenergy for many of their sites but also other distributors like Valero . The UK model seems strange selling fuel extremely cheap but shop pricing quite inhibitive . Footfall rising but ultimately , customer shop basket spend not complimenting and there lies the issue . They have taken a few sites over with very little capital expenditure being made and have seemed to use a type of "sub brand fascia" that is not easily identifiable at roadside without the APPLEGREENS logo on . To be honest , it looks like a poorly imaged independant site . I know they are looking to increase their site-bank and believe they will develop them in the next 12/18 months - but have they missed the customer capture opportunity already ?|
|Looks like the Down trend is going to see the Sp fall below the original listing price soon. Something is not right here, they should seeing even higher returns this year with the fall in Oil prices and the increase in traffic on the Motorways.
Is debt an issue here now?|
|14 March 2016
Preliminary Statement of Results for the year ended 31 December 2015
Dublin, London, 14 March 2016: Applegreen plc ('Applegreen' or 'the Group'), a major petrol forecourt retailer in the Republic of Ireland with a growing presence in the United Kingdom announces preliminary results for the year ended 31 December 2015.
-- Strong operating performance with adjusted EBITDA up 26% to EUR28.9m
-- 30% increase in gross profit on FY 2014 to EUR125.9m (27% in constant currency)
-- Like for like growth in store and food gross profit of 8.9% (6.8% in constant currency)
-- Revenue up 15% to EUR1,081m
-- Net debt position at 31 December 2015 of EUR4.7m
-- Grew estate to 200 sites as at 31 December 2015 (2014: 152)
-- Continued investment in the development of the network with net capex of EUR58.8m in 2015
-- Positive impact from new store openings and rebrands in driving sales and profit growth in FY 2015
-- Increased food outlets by 29 and launched two new food offers - Chopstix and Greggs
-- Successful IPO in June raising EUR66.3m in primary capital (net of expenses)
31 December 31 December Change
Gross profit EUR125.9m EUR96.6m 30%
Adjusted EBITDA(1) EUR28.9m EUR23.0m 26%
Adjusted PBT(1) EUR17.7m EUR14.5m 22%
Commenting on the results, Bob Etchingham, CEO of Applegreen said: "In reporting our first full year results as a public company we are very pleased to announce a strong performance in 2015 with growth in both profitability and turnover delivered across each of the Republic of Ireland and the UK. This performance was driven by new site openings in both the latter part of 2014 and early 2015 as well as the increased contribution from food driven by our upgrade and rebranding programme.
We continued to expand our business in the year adding five Service Area sites and seven petrol filling stations in the Republic of Ireland, as well as expanding our network of dealer sites by 25. In the UK our site numbers increased by eight including the first Motorway Service Area in Northern Ireland. We also launched two new food offers- Chopstix and Greggs - and increased the number of our food outlets by 29 across the estate.
We have had a positive start to 2016, adding four Service Area sites and seven petrol filling stations to the estate and we continue to see good opportunities for green field and bolt-on expansion. Consumer sentiment is strong in both our key markets, particularly the Republic of Ireland, and we are confident that our distinctive retail offering in the forecourt sector will continue to deliver growth through 2016."|
|Ireland is their core business - the UK market is vastly different and seems like they are picking up the sites that none of the majors / other top 50 independants want purely for market share . Strangely the first time i saw an Applegreens site was on the A10 in London - it was always packed and then changed to Shell - strange|
|Applegreen motorway services I pass in Ireland are always packed with cars queued for fuel and lengthy queues at the till. Very brisk trade and most people picking up high margin coffees snacks etc as well. The Irish trade looks to be going very well and the strengthening should translate to stronger £ results for late 2015 and early 2016.|
|seen a few new applegreens sites popping up - awful signage/fascia - looks second rate . i wonder whether there is any additive in their fuel ? buy cheap buy twice|
|Richard Gill tips AppleGreen in the Small Cap Corner - Spread Betting Mag August Edition page 78 – APGN check it out at http://bit.ly/1aCCT0d|
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