Key Ratios
Return Ratios
| Year ending 31 December | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| ROACE* | 9.9% | 9.8% | 11.8% | 12.0% | 13.0% |
Financial Covenants
| Year ending 31 December | 2021 Times | 2020 Times | 2019 Times | 2018 Times | 2017 Times |
|---|---|---|---|---|---|
| Net Debt : EBITDA** | 2.0 | 1.9 | 1.8 | 1.7 | 1.4 |
| EBITDA : Net Interest** | 14.9 | 13.8 | 13.2 | 14.7 | 16.2 |
* Before before brand related intangible asset amortisation and non-trading items (net of related tax)
** Calculated on a pro forma basis as outlined in financial definitions section