About this content About Jessica Davies Jessica has spent 15 years covering private and public markets, business, law and investment in the transition to cleaner energy. She spent several years as an editor at Dow Jones, covering private equity and private markets, where she led the team that broke the news of alleged misuse of funds at Abraaj Group. During her time at the company, she sat on the Women @ Dow Jones committee. She also spent four years as an editor and journalist at Centaur Media PLC cove ...

About this content About Jessica Davies Jessica has spent 15 years covering private and public markets, business, law and investment in the transition to cleaner energy. She spent several years as an editor at Dow Jones, covering private equity and private markets, where she led the team that broke the news of alleged misuse of funds at Abraaj Group. During her time at the company, she sat on the Women @ Dow Jones committee. She also spent four years as an editor and journalist at Centaur Media PLC cove ...

Tesco PLC (OTCPK:TSCDF) Q2 2024 Earnings Conference Call October 4, 2023 4:00 AM ET Company Participants Ken Murphy - Group Chief Executive Imran Nawaz - Chief Financial Officer Conference Call Participants Andrew Gwynn - BNP Paribas Exane Clive Black - Shore Capital James Grzinic - Jefferies Izabel Dobreva - Morgan Stanley James Anstead - Barclays Sreedhar Mahamkali - UBS Nick Coulter - Citi Paul Rossington - HSBC Ken Murphy [Commercials] Good morning, everyone, and welcome. Imran and I are delighted to pr ...

Tesco PLC (OTCPK:TSCDF) Q4 2023 Earnings Conference Call April 13, 2023 4:00 AM ET Company Participants Ken Murphy - Group Chief Executive Imran Nawaz - CFO Conference Call Participants William Woods - Bernstein Andrew Gwynn - BNP Paribas Exane James Anstead - Barclays Clive Black - Shore Capital Markets Izabel Dobreva - Morgan Stanley Nick Coulter - Citigroup Sreedhar Mahamkali - UBS James Grzinic - Jefferies Paul Rossington - HSBC Ken Murphy Good morning, everyone, and welcome to our Preliminary Results P ...

Preliminary Results 2022/23 | --- | --- | --- | --- | --- | |----------------------------------------------------------|-----------------------------|------------|-------------------------------------------------|---------------------------| | INVESTING FOR CUSTOMERS \nPerformance highlights 1,2 : | AND DELIVERING \nFY 22/23 | \nFY 21/22 | A STRONG PERFORMANCE. \nChange at actual rates | Change at constant rates | | Group sales (exc. VAT, exc. fuel) 3 | £57,656m | £54,768m | 5.3% | 5.3% | | Adjusted operati ...

Tesco PLC. (OTCPK:TSCDF) | --- | |---------------------------------------------| | | | | | Q2 2023 Earnings Conference Call | | October 05, 2022 4:00 AM ET | | Company Participants | | Ken Murphy - Group Chief Executive | | Imran Nawaz - Chief Financial Officer | | Conference Call Participants | | Andrew Gwynn - BNP Paribas Exane | | Rob Joyce - Goldman Sachs | | James Grzinic - Jefferies | | Clive Black - Shore Capital Markets | | William Woods - Bernstein | | Fabienne Caron - Kepler Cheuvreux | | Xavier L ...

Financial Data and Key Metrics Changes - Group sales grew by 3% year-on-year and by 10.2% over two years, with strong performance across all regions [17] - Group profit increased by 58.9% to £2.8 billion, reflecting strong sales performance and a reduction in COVID-19 costs [18] - Retail free cash flow was £2.3 billion, up £0.9 billion from last year, driven by higher operating profits and the elimination of UK pension contributions [19] - Net debt decreased to £10.5 billion, £1.4 billion lower than last year, primarily due to strong free cash flow generation [20] - Proposed final dividend of 7.70 pence per share, leading to a full-year dividend of 10.9 pence, an increase of 19.1% [20] Business Line Data and Key Metrics Changes - Total retail sales for the year were £53.8 billion, with profit of £2.6 billion, showing strong recovery in both UK and Ireland segments [21] - UK sales grew with like-for-like growth of 0.4%, while Ireland saw a decline due to strong comparatives from the previous year [22] - Booker reported a 15.3% increase in one-year like-for-like sales, driven by a recovery in catering sales [22] - Central Europe experienced a 2.9% increase in like-for-like sales, with growth across all channels and categories [31] Market Data and Key Metrics Changes - Market share in the UK improved consistently, gaining market share every month, with a notable outperformance in volume terms [11][12] - Ireland's market share improved by 11 basis points, while Central Europe also saw market share growth [13] - Online sales in the UK remained significantly larger than pre-pandemic levels, with a two-year like-for-like increase of 66% [25] Company Strategy and Development Direction - The company focuses on maintaining competitive pricing through initiatives like Aldi Price Match and Clubcard prices [51][53] - Strategic priorities include enhancing customer value, expanding digital engagement through Clubcard, and improving convenience in shopping [50][66][70] - The company aims to offset cost inflation and create additional headroom for investment in competitiveness and growth [80][81] Management's Comments on Operating Environment and Future Outlook - The management acknowledges the challenging operating environment due to inflation and cost of living concerns, with a focus on maintaining customer value [83][86] - Profit guidance for the next year is set between £2.4 billion and £2.6 billion, reflecting uncertainties in the market [88] - The company remains committed to sustainable cash generation and shareholder returns through a share buyback program [90] Other Important Information - The company has made significant contributions to humanitarian efforts in response to the war in Ukraine, raising nearly £4 million for the Red Cross [6] - The company has launched ambitious climate commitments, including a target for net zero operations by 2035 [62] Q&A Session Summary Question: Market outlook and inflation impact - Management stated that they start the year in a strong position with the best price indices in years and are committed to maintaining leadership in pricing [98] Question: Price increases and market leadership - Management noted that price inflation is occurring where necessary, with a mixed market on who leads price increases, but Tesco aims to hold back inflation [107] Question: Changes in customer behavior - Management indicated that they are observing changes in customer behavior due to disposable income pressures, but these are expected rather than confirmed [112] Question: Profit guidance details - Management provided insights into uncertainties affecting profit guidance, including COVID normalization and inflation levels [115]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Tesco Preliminary | | | | | | | | | | | | | | | | | | | | Results 2021/22. | | | | | | | | | | Ken Murphy, Chief Executive Officer Imran Nawaz, Chief Financial Officer | | | | | | | | | | | | | | | | | | | | 13 Ap ...