Last 107.00 GBp
Change Today +0.20 / 0.19%
Volume 1.5M
As of 11:35 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

enterprise inns plc (ETI) Snapshot

Open
107.00 GBp
Previous Close
106.80 GBp
Day High
108.50 GBp
Day Low
105.80 GBp
52 Week High
01/15/14 - 171.40 GBp
52 Week Low
12/16/14 - 98.70 GBp
Market Cap
541.4M
Average Volume 10 Days
1.3M
EPS TTM
0.06 GBp
Shares Outstanding
506.0M
EX-Date
06/2/10
P/E TM
17.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for ENTERPRISE INNS PLC (ETI)

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enterprise inns plc (ETI) Details

Enterprise Inns plc is engaged in the operation of owned, leased, and tenanted pubs in the United Kingdom. It operates approximately 5,493 trading pubs under ownership; and 27,000 leased and tenanted pubs. The company was founded in 1991 and is based in Solihull, the United Kingdom.

Founded in 1991

enterprise inns plc (ETI) Top Compensated Officers

Chief Executive Officer, Executive Director, ...
Total Annual Compensation: 495.0K GBP
Chief Financial Officer, Director, Member of ...
Total Annual Compensation: 465.0K GBP
Compensation as of Fiscal Year 2013.

enterprise inns plc (ETI) Key Developments

Enterprise Inns plc Announces Preliminary Group Earnings Results for the Year Ended September 30, 2014

Enterprise Inns plc announced preliminary group earnings results for the year ended September 30, 2014. For the year, the company reported revenue of £632 million compared to £639 million a year ago. EBITDA was £289 million compared to £311 million a year ago. Operating profit was £273 million compared to £296 million a year ago. Profit before tax was £36 million compared to loss before tax of £42 million a year ago. Profit after tax attributable to members of the parent company was £30 million or 5.9 pence per diluted share compared to loss after tax attributable to members of the parent company of £4 million or 0.8 pence per basic and diluted share a year ago. Net cash flows from operating activities were £278 million compared to £291 million a year ago. Payments to acquire other property, plant and equipment were £2 million compared to £2 million a year ago. Net debt as at September 30, 2014, was £2,404 million compared to £2,521 million on September 30, 2013. Underlying net debt as at September 30, 2014, was £2,401 million compared to £2,519 million on September 30, 2013. Adjusted earnings were £99.6 million or 17.8 pence per diluted share compared to £94.9 million or 19 pence per diluted share a year ago. EBITDA before exceptional items was £302 million compared to £313 million a year ago.

Enterprise Inns plc Announces Agreement of Refinancing Terms and New Bank Facility

Enterprise Inns plc announced that it has agreed the terms of a partial refinancing of its 2018 bonds. The partial refinancing will result in a lower interest cost to ETI and an extended debt maturity, through proactively addressing the 2018 bonds. The company has also agreed the terms on which its existing bank facility will be replaced by a new revolving credit facility on improved terms. Completion of the refinancing transactions is expected to take place on or about 7 October 2014 and is subject to final documentation and other standard conditions being met. ETI has received and accepted tender instructions for £249,521,000 of its outstanding 6.500% secured bonds due 2018 pursuant to the terms of its previously-announced tender offer. The bonds will be purchased at a cash purchase price of 108.75% of their principal amount. In connection with the tender and purchase, a new issue of £249,521,000 of secured bonds has been priced with a maturity of October 2023 and a coupon of 6.00%. This new issue will benefit from a security package on substantially the same terms as the tendered and purchased 2018 bonds. ETI has also signed a new £138 million non-amortising revolving credit facility which, upon completion of the refinancing, will be available through to September 2018. This extends the maturity of the Company's previous facility and also benefits from improved terms, simplified covenants and lower pricing with a new interest rate of 300 basis points above LIBOR. This facility will replace the existing amortising facility, which currently stands at just over £140 million, with applicable interest rates of 400 and 450 basis points above LIBOR. The new bank facility will be provided by Deutsche Bank, The Royal Bank of Scotland, Barclays, BNP Paribas and Lloyds Bank. Deutsche Bank and The Royal Bank of Scotland acted as Dealer Managers for the bond tender and along with Barclays were Global-Coordinators of the new bond issue, with BNP Paribas and Lloyds Bank acting as Bookrunners on the new issue.

Enterprise Inns plc Reports Interim Management Statements Results for the Forty Four Weeks Ended August 2, 2014; Provides Earnings Guidance for the Full Year of 2014

Enterprise Inns plc reported interim management statement results for the forty four weeks ended August 2, 2014. Trading during the period has been in line with expectations with total estate like-for-like net income for the 44 weeks to 2 August 2014 growing by 1.3%. The company provides earnings guidance for the full year of 2014. The company expects to meet full year guidance of net proceeds from asset disposals of £70 million which will be used to fund capital investment programme. Strong cash generation from operating activities will continue to be used to reduce debts and anticipated total net debt will be reduced to £2.4 billion.

 

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Industry Analysis

ETI

Industry Average

Valuation ETI Industry Range
Price/Earnings 17.4x
Price/Sales 0.8x
Price/Book 0.4x
Price/Cash Flow 11.4x
TEV/Sales 0.8x
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