Company: RKLIF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0001654954-25-008672
Chunk: 15

Company: RENTOKIL INITIAL PLC /FI
Filing Date: 2025-07-31
Form: 6-K
Chunk 15
---
 ended 31 December 2024 which have been prepared in accordance with UK-adopted International Accounting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards. The annual financial statements for the year ended 31 December 2024 and the condensed consolidated financial statements also comply fully with International Financial Reporting Standards (IFRSs) as issued by the International Accounting Standards Board (IASB).

#### Going concern
The Directors have prepared Board-approved cash flow forecasts that demonstrate that the Group has sufficient liquidity to meet its obligations as they fall due for the period of at least 12 months from the date of approval of these Financial Statements.

Additionally, the Directors have assessed a severe but plausible downside scenario. The downside scenario includes a 20% revenue decline for 12 months which is considerably worse than the actual impact of the COVID-19 pandemic in 2020. Following the issuance of $1.25bn bonds in H1 to finance the $700m Term Loan maturity, headroom increased to approximately $1.9bn (excluding c.$100m of cash subject to exchange controls) at June 2025. In the downside scenario, the minimum headroom modelled was approximately $1.1bn (excluding c.$100m of cash subject to exchange controls) before the inclusion of mitigating actions (adjusting the level of M&A activity, and/or dividends paid) which are all within the Group's control and were used during the COVID-19 pandemic.

The Directors have therefore concluded that the Group will have sufficient liquidity to continue to meet its liabilities as they fall due for this period and therefore have prepared the Consolidated Financial Statements on a going concern basis.

#### Foreign currency translation
The results and financial position of Group entities are translated into the presentation currency using the following rates for key currencies.

GBP balances were translated at a closing GBP/USD rate of 0.7290 (June 2024: 0.7915) and an average GBP/USD rate of 0.7706 (June 2024: 0.7900).

EUR balances were translated at a closing EUR/USD rate of 0.8497 (June 2024: 0.9338), and an average EUR/USD rate of 0.9183 (June 2024: 0.9242).

#### Change in presentation currency
On 25 July 2024, the Group announced that with effect from 1 January 2025 it would be changing its presentation currency