Bunzl plc

"The main reason we chose to work with Avetta was flexibility. The system is able to cope with our specific requirements that we have around sustainability, and Avetta gave us the functionality to create bespoke questionnaires and bespoke surveys for our suppliers that are really relevant to our business." - James Pitcher, Group Head of Sustainability at Bunzl plc See how this UK-based distribution services company partnered with Avetta to track their sustainability targets across their supply chain and replace manual processes with automated solutions. https://lnkd.in/ekwXGNxi #sustainability #supplychain

Today we announce that we expect a strong increase in adjusted operating profit for 2024 compared to 2023 at constant exchange rates. Looking ahead to 2025, we expect robust revenue growth, at constant exchange rates, and Group operating margin to be maintained in line with 2024 and to remain substantially higher than pre-pandemic levels. We also confirm a further buyback during 2025 of £200m. We welcome two new acquisitions today: C&C Catering Equipment Limited, a specialist foodservice business in the UK, and COMODIS - Membre HEEGEO, a leading regional cleaning and hygiene distributor in France. Total committed spend of over £850 million this year is a record total for Bunzl with 13 acquisitions announced to date this year. Commenting on the announcement, our CEO, Frank van Zanten, said: "2024 will be another year of significant progress for Bunzl, demonstrating the continued growth and resilience of the business model." Read the full statement on our website here: https://lnkd.in/ejiTbD63

We are thrilled to announce that Bunzl plc has officially been accredited as a Great Place to Work for a second year running!   This year, we have seen a 2% increase in the overall perception among our colleagues, with 81% of our team agreeing that "Taking everything into account, this is a great place to work." This growth reflects the ongoing efforts we are making to create a culture where every voice is heard.   After successfully trialling the survey in 2023, we extended it across the entire Group this year with great success. We are proud to announce that over 75% of our operating companies who participated have achieved the certification.   This prestigious recognition is a testament to the team, culture, and the work environment we’ve built together. We are committed to fostering an inclusive and supportive workplace where every individual feels valued, empowered, and inspired to do their best work.   A huge thank you to all our employees for making this achievement possible – you are the heart of what makes Bunzl plc a Great Place to Work! We look forward to continuing to grow and build a workplace where everyone thrives! 

We are pleased to share today that Bunzl has delivered another period of good growth in our Q3 update, with highlights from the update being: - Group revenue up by 5.4%, at constant exchange rates - Underlying revenue trends continuing to strengthen - 2024 outlook unchanged - Four new acquisitions announced, extending this year’s acquisition success, with a total of 11 announced so far Today we welcome:   - Cermerón, a regional distributor of cleaning & hygiene products to foodservice and hospitality customers in Southern Spain - Cubro, the leading distributor of mobility aids and clinical furniture to the aged care, community care, and hospital markets in New Zealand - DBM Medical Group, a specialist distributor of orthopaedic surgery products in New Zealand - Arrow County Supplies, a distributor of cleaning and hygiene products in the UK Read the full update here: https://lnkd.in/edT6ZD8w

Today we report our 2024 Half Year results. This is already a record year for Bunzl in terms of committed spend on acquisitions, with over £650 million spent already year-to-date, and a strong increase in operating margin to 8.0% vs 7.4% in H1 2023 driving an increase in our full year profit expectations.   We are also announcing a new three-year capital allocation commitment to spend around £700 million per year, allocated primarily towards value-accretive acquisitions and, if required, returns of capital to shareholders. Alongside this, we are beginning Bunzl’s first share buyback programme, starting with an initial buyback of £250 million to be completed before our 2024 full year results, at which we expect to announce a further buyback for 2025 of around £250 million. You can hear more about it from our Chief Executive Officer, Frank van Zanten in the video below, or click the link to view our results announcement: https://lnkd.in/eB4pzXQd

We are delighted that our strong acquisition momentum this year continues, with the announcement today of two further acquisitions, along with the completion of Grupo RCL which was announced last month. The newest additions to the Bunzl family are: SISTEMAS DE EMBALAJE ANPER, SA., a distributor of industrial packaging to end-users in Spain. This business, which expands our product offering and geographical footprint, generated EUR 28 million (£24 million) of revenue in 2023. Holland Packaging B.V., a distributor of bespoke and customised packaging products and supplies to e-commerce focused companies, based in the Netherlands. The business generated EUR 16 million (£14 million) of revenue in 2023. Commenting on today’s announcement, Frank van Zanten, Chief Executive Officer of Bunzl, said: “Today’s announcement highlights the strength of Bunzl’s continuing consolidation opportunity. The announced acquisitions are highly complementary to our existing businesses, expanding our product offering in Spain and the Netherlands, and have strong margins. I would like to offer a warm welcome to the teams from the newly acquired businesses to the Bunzl family. Our pipeline remains active and the strength of our balance sheet supports our ability to continue to self-fund value-accretive acquisitions alongside other capital allocation options.”

As we enter our closed period for the first half of this year, we are very pleased to announce today that we are upgrading our guidance for the full year, based on an improved margin performance, driven by good margin management, including increased own brand penetration, and acquisitions. We now expect to deliver robust revenue growth in 2024, at constant exchange rates, driven by acquisitions already completed in 2024; with a small decline in underlying revenue. Group operating margin is now expected to be slightly above the level reported for the full year 2023. We are also delighted that the excellent progress we have made with our acquisition strategy so far this year continues, as we welcome two more businesses to the Bunzl family today: Grupo RCL, a Brazilian distributor specialising in surgical and medical devices, which further strengthens our position in this fragmented market. Clean Spot Cleaning Supplies and Equipment, a distributor of cleaning and hygiene products and equipment in Canada, which further enhances our footprint in the country and expands our product offering. Commenting on today’s announcement, Frank van Zanten, Chief Executive Officer of Bunzl, said: “Our agile and entrepreneurial teams continue to deliver robust profit growth. I am delighted with the ongoing successful margin management, including increasing penetration of own brands, demonstrated across the Group, allowing us to upgrade our full year profit outlook today. I am also pleased to welcome two more businesses to the Bunzl family, taking our total committed spend on acquisitions to around £600m so far this year. After an excellent start to the year for acquisitions, we maintain a strong balance sheet, providing us with significant optionality to continue to self-fund value-accretive acquisitions and our pipeline remains active.”

100 ENSIMÄISTÄ PÄIVÄÄ OSANA BUNZL-PERHETTÄ! (english below) THE FIRST 100 DAYS IN THE BUNZL FAMILY! 😍 Monet tahot arvioidaan ensimmäisen sadan päivän perusteella.  Mitä on saavutettu? Mitä on opittu? Kuinka muutokset on otettu vastaan? Bunzl Holding Nordic A/S osti Pamark Business Oy:n 29.2.2024. Tämän jälkeen matkamme siirtyi perheomisteisesta yrityksestä osaksi alansa suurinta toimijaa. Ensimmäiset sata päivää on sisältänyt suuren määrän prosessien läpikäyntiä, raportointia, HR:n kehitystä, uusien mahdollisuuksien kartoitusta markkinoilla, vastuullisuuden sparrailua…mitä näitä nyt on🌟. Näin kevään viimeisenä päivänä voit katsoa Pamark Groupin toimitusjohtajan, Minna Åman-Toivion terveiset siitä, mitä kaikkea on käyty läpi ja miltä tulevaisuutemme näyttää osana Bunzl-perhettä.  ___________________ Many changes are being estimated within the first hundred days of activity. What has been complished? What has been learned? How have the changes been received? Bunzl Holding Nordic A/S bought Pamark Business Oy on 29.2.2024. After the acquisition, our journey developed from being a family owned company to being a member of a much larger - the largest in its field -, global company.   The first hundred days have included a huge amount of going through different processes, reporting, developing the HR, mapping all the new possibilities on the markets, sparring responsibility themes with our Bunzl-family members…and so much more 🤩✨. Since it's the last day of spring, we wanted to share with you the greetings from our Managing Director, Minna-Åman Toivio. What has the first hundred days meant for us as a company, to our customers, what is going on with our new logistic facilities and what the future holds for the growth. Bunzl plc #pamarkgroup #systeema #bunzl #wearebunzl #100days #bunzleuropecontinental #HR #finance #logistics

It was fantastic to host our covering analysts, Annelies Vermeulen and Sylvia Barker, CFA, who presented along with Matt Hall from our Corporate Broking team at UBS, at our Global Finance and IT Conference last week. Our assembled finance leaders found your session hugely engaging and informative, and it really brought to life some of the aspects of being a public company and our relationship with the financial markets. Thank you all very much!

Last week in sunny Sitges, Bunzl brought together over 20 of its sustainability leaders from around the world for its first internal sustainability conference since 2019 – when the team assembled numbered only four – highlighting the growing importance of sustainability to the business. Led by Group Head of Sustainability, James Pitcher, the team discussed challenges and opportunities around sustainability adoption in their respective business areas, sharing best practices and brainstorming ideas to accelerate further integration of sustainability across Bunzl to support delivering the Group’s strategy. The team also heard presentations from Alberto Grau, Managing Director for Bunzl Continental Europe, and local business leaders Mario Ballarin, Daniel Tovar, Albert Iglesias and IÑIGO DE ARGUMOSA about how their businesses were successfully integrating sustainability, its growing commercial importance for customers, and the opportunities they saw to further invest in sustainability to deliver organic growth for the Group. The team left Sitges feel enthused and energised, and excited about taking the next steps for Bunzl’s sustainability journey, with the insights gained and the collaborative spirit fostered at this conference paving the way for new innovative strategies that are not only environmentally responsible but also align closely with our core business goals.