New stores & rebranding drive Applegreen annual sales up

Applegreen plc, a major petrol forecourt retailer in the Republic of Ireland with a growing presence in the UK, has announced preliminary results for the year ended 31 December 2015.

The group saw a strong operating performance with revenue rising by 15% to €1,081m, adjusted EBITDA up by 26% to €28.9m, and a 30% increase in gross profit on FY 2014 to €125.9m (27% in constant currency).

In the period, the firm reported like-for-like growth in store and food gross profit of 8.9% (6.8% in constant currency).

Grew estate to 200 sites as at 31 December 2015 (2014: 152), and new store openings and rebrands drive sales and profit growth in FY 2015.

Applegreen also launched two new food offers- Chopstix and Greggs - and increased the number of our food outlets by 29 across the estate.

The company reported a successful IPO in June raising €66.3m in primary capital (net of expenses).

CEO Bob Etchingham 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 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.'

Established in 1992, Applegreen employs around 2,900 people, and operates 200 forecourt sites. The group operates a distinctive retail led business model focused on offering 'low fuel prices always' to drive footfall to its sites and aims to provide a premium food and hot beverage offering in all its sites.

The company has a number of strategic partnerships with international brands including Burger King, Subway, Costa Coffee, Greggs, Lavazza and Chopstix. The business also has its own food offer through the aCafe and Bakewell cafe brands.