Key Ratios
Return Ratios
| Year ending 31 December | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| ROACE* | 11.8% | 12.0% | 13.0% | 12.9% | 13.6% |
Financial Covenants
| Year ending 31 December | 2019 Times | 2018 Times | 2017 Times | 2016 Times | 2015 Times |
|---|---|---|---|---|---|
| Net Debt : EBITDA** | 1.8 | 1.7 | 1.4 | 1.5 | 1.9 |
| EBITDA : Net Interest** | 13.2 | 14.7 | 16.2 | 14.0 | 17.3 |
* Before before brand related intangible asset amortisation and non-trading items (net of related tax)
** Calculated in accordance with lenders' facility agreements