Our world Search PLC | Investors Menu Financial performance Group Headline Results 2020/21 53 weeks ended 27 February 2021 on a continuing operations basis 2020/21 2019/20(a) 52-week basis 2019/20(a) 53-week basis YoY 52-week change (Actual exchange rates) YoY 52-week change (Constant exchange rates) YoY 53-week change (Actual exchange rates Group sales (exc. VAT, exc. fuel)(b) £53,445m £49,945m £50,788m 7.1% 7.0% 5.2% UK & ROI £48,848m £44,909m £45,752m 8.8% 8.6% 6.8% Central Europe £3,862m £3,968 £3,968m (2.1)% (0.6)% (2.7)% Tesco Bank £735m £1,068m £1,068m (31.2)% (31.2)% (31.2)% Fuel £4,442m £7,163m £7,303m (38.0)% (38.0)% (39.2)% Revenue (exc. VAT, inc. fuel) £57,887m £57,108m £58,091m 1.4% 1.3% (0.4)% Group operating profit before exceptional items and amortisation of acquired intangibles(c) £1,815m £2,525m £2,571m (28.1)% (28.3)% (29.4)% UK & ROI £1,866m £2,156m £2,202m (13.5)% (13.7)% (15.3)% Central Europe £124m £176m £176m (29.5)% (29.0)% (29.5)% Tesco Bank £(175)m £193m £193m n/m n/m n/m Include exceptional items and amortisation of acquired intangibles £(79)m £(331)m £(365)m Group statutory operating profit £1,736m - £2,206m (21.3)% Adjusted Group profit before tax(d) £1,161m £1,832m £1,869m (36.6)% (37.9)% Group statutory profit before tax £825m - £1,028m (19.7)% Diluted EPS before exceptional and other items (adjusted for share consolidation)(e) 11.94p 18.60p 18.98p (35.8)% (37.1)% Statutory diluted EPS 7.54p - 7.54p (0.1)% Statutory basic EPS 7.56p - 7.60p (0.5)% Dividend per share 9.15p - 9.15p 0.0% Capex(f) £1.0bn £0.9bn £0.9bn Net debt(g) £(12.0)bn £(12.1)bn £(12.3)bn down 2.8% Retail free cash flow(g) £1.2bn £1.7bn £1.5bn (29.8)% (20.5)% Detailed below is a summary of our performance for the last financial year. For UK & ROI, the prior year was the 53 weeks ending 29 February 2020. To aid comparability, the headline results and associated commentary is presented on a 52-week comparable basis. The COVID-19 crisis has had a significant effect on these results including substantial incremental costs, a severe decline in the hospitality sector impacting Booker’s catering business, a material reduction in Bank profitability and a benefit from additional UK & ROI retail sales. In December, we made a decision to repay business rates relief and the full cost of business rates is therefore included as usual in the relevant profit measures. (a) All measures apart from net debt are shown on a continuing operations basis. Prior-year comparatives are also shown on a continuing operations basis. Net debt includes discontinued operations until the point of sale. Further details on discontinued operations can be found in Note 7, starting on page 137. (b) Group sales exclude VAT and fuel. Sales change shown on a comparable days basis for Central Europe. (c) Excludes amortisation of acquired intangibles and excludes exceptional items by virtue of their size and nature in order to reflect management’s view of underlying performance. (d) Adjusted Group PBT measures exclude exceptional items, amortisation of acquired intangibles, net pension finance costs and fair value remeasurements of financial instruments. (e) Diluted EPS before exceptional and other items (adjusted for share consolidation) is provided to aid comparability, as the sale of our businesses in Thailand and Malaysia, and the share consolidation and special dividend which followed, distort our financial result in the year. As such, this metric is presented on a basis other than in accordance with IAS 33 and captures the full impact of the share consolidation as if it had taken place at the start of the 2019/20 financial year. Please see Note 9 on page 139 for a reconciliation to diluted adjusted EPS. (f) Capex is shown excluding property buybacks. Statutory capital expenditure (including property buybacks) for the 52 weeks ended 27 February 2021 was £1.3bn (LY £1.2bn). (g) Net debt, total indebtedness and retail free cash flow exclude Tesco Bank. Net debt also includes lease liabilities following the adoption of IFRS 16. Share price 280.50p +0.70p +0.25% 24 November 2021 at close About this website Terms & conditions Privacy & cookies policy Accessibility Site index Useful links Tescoplc.com Tesco.com Tesco Red Door - Innovation Tesco careers Store locator Product recall Modern Slavery Statement Follow us Linkedin Twitter Facebook YouTube flickr Company number: 00445790 © Tescoplc.com 2021. All Rights Reserved. Privacy policy and cookies Accept and close