Wincanton announces full year results, with revenue increasing by 1.7%


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Wincanton has announced its full year results, with its revenue increasing by 1.7% to £1.2bn with growth across all sectors after initial pandemic impact. Its EBITDA fell by 8.5%, to £95.2m. Underlying profit before tax was £47.2m, a 10.6% decline, with a recovery after initial pandemic disruption, along with a surge in e-commerce activity and high retail volumes, as well as an upturn in construction activity. 

According to Wincanton, it has reorganised its business structure and disposed of non-core businesses to focus on growth at greater pace. Its partner project with Waitrose & Partner in delivering its first darkstore customer fulfilment centre is in operation, along with new e-fulfilment centres in Rockingham and Nuneaton aiming to extend its service offerings. It also reports new contracts with Dobbies, Heineken, Wickes, HMRC and DHSC.

It has also announced a new ESG strategy, aiming to reach net-zero by 2040 and home deliveries to be net-zero by April 2022.

Progress is already being made with its carbon intensity ratio decreasing again year-on-year to 270 tonnes of carbon dioxide equivalent (tCO2e) per £m revenue, compared to 290 tonnes in 2020. The strategy contains five core commitments:

  • Net-zero emissions by 2040: Three ‘net-zero roadmaps’ have been developed which set out how the Group will achieve its target to be net-zero by 2040 across transport, property and waste. The top priorities are being net-zero on ‘to home’ operations by April 2022, investing in an all-electric company car fleet by 2026 and offsetting residual carbon emissions through Wincanton Woodland. Wincanton is offering a home delivery service in the UK with net-zero home delivery. 
  • Eliminate waste
  • Offering net-zero propositions to all customers: The Group has committed to providing net-zero deliveries on home delivery operations throughout its transport network by April 2022. As part of this, its is working offering diesel alternative fuel options, such as Hydrotreated Vegetable Oil (HVO) or biomethane fuel options, that aims to reduce transport emissions by 70 – 85%.
  • Innovation and collaboration
  • Wincanton Woodland: A woodland planting scheme provides Wincanton’s customers the opportunity to offset their own carbon emission through a certified and recognised programme.

James Wroath, Chief Executive Officer, said, “We have grown revenues strongly since the early impact of the pandemic, fuelled by particularly good performance in Digital & e-fulfilment and new wins in the public sector. We continue to invest to ensure we can deliver on the opportunities ahead in these markets. While profitability was impacted by the unprecedented disruption caused by Covid-19 in the first half it was significantly ahead of pre-pandemic levels in the second. We have taken this strong momentum into the new financial year and current trading is encouraging.”

Source: Wincanton

 

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