Changes for page Alimentation Couche-Tard
Last modified by Asif Farooqui on 2021/12/13 09:59
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... ... @@ -75,21 +75,40 @@ 75 75 Furthermore, under licensing agreements, more than 1,900 stores are operated under the Circle K banner in 14 other countries and territories (Cambodia, Egypt, Guam, Guatemala, Honduras, Indonesia, Jamaica, Macau, Mexico, Mongolia, New Zealand, Saudi Arabia, the United Arab Emirates and Vietnam), which brings the worldwide total network close to 14,200 stores. 76 76 77 77 78 - <store table>78 +[[image:TARD4.png]] 79 79 80 80 81 - FinancialHighlights81 +== Store Network == 82 82 83 +Summary of changes in store network for the 12‑week period ended October 10, 2021 83 83 84 -The company's revenues were $14.2 billion for the second quarter of fiscal 2022, up by $3.6 billion, an increase of 33.5% compared with the corresponding quarter of fiscal 2021. This performance is mainly attributable to a higher average road transportation fuel selling price, the contribution from acquisitions, higher fuel demand, as well as the net positive impact from the translation of revenues of its Canadian and European operations into US dollars, which had an impact of approximately $92.0 million. 85 85 86 -[[https:~~/~~/corpo.couche-tard.com/wp-content/uploads/2021/11/2022-Q2-Press-Release-En.pdf>>url:https://corpo.couche-tard.com/wp-content/uploads/2021/11/2022-Q2-Press-Release-En.pdf]] 86 +(% style="width:1303px" %) 87 +|(% style="width:476px" %)**Type of site**|(% style="width:190px" %)**Company Operated**|(% style="width:83px" %)**CODO**|(% style="width:99px" %)**DODO**|(% style="width:229px" %)**Franchised and other affiliated**|(% style="width:224px" %)**Total** 88 +|(% style="width:476px" %)Number of sites, beginning of period|(% style="width:190px" %)9,906|(% style="width:83px" %)397|(% style="width:99px" %)689|(% style="width:229px" %)1,263|(% style="width:224px" %)12,255 89 +|(% style="width:476px" %)Acquisitions|(% style="width:190px" %)36|(% style="width:83px" %)—|(% style="width:99px" %)—|(% style="width:229px" %)—|(% style="width:224px" %)36 90 +|(% style="width:476px" %)Openings / constructions / additions|(% style="width:190px" %)7|(% style="width:83px" %)3|(% style="width:99px" %)9|(% style="width:229px" %)11|(% style="width:224px" %)30 91 +|(% style="width:476px" %)Closures / disposals / withdrawals|(% style="width:190px" %)-33|(% style="width:83px" %)-1|(% style="width:99px" %)-5|(% style="width:229px" %)-12|(% style="width:224px" %)-51 92 +|(% style="width:476px" %)Store conversion|(% style="width:190px" %)9|(% style="width:83px" %)-7|(% style="width:99px" %)-2|(% style="width:229px" %)—|(% style="width:224px" %)— 93 +|(% style="width:476px" %)**Number of sites, end of period**|(% style="width:190px" %)**9,925**|(% style="width:83px" %)**392**|(% style="width:99px" %)**691**|(% style="width:229px" %)**1,262**|(% style="width:224px" %)**12,270** 94 +|(% style="width:476px" %)Circle K branded sites under licensing agreements|(% style="width:190px" %) |(% style="width:83px" %) |(% style="width:99px" %) |(% style="width:229px" %) |(% style="width:224px" %)1,917 95 +|(% style="width:476px" %)Total network|(% style="width:190px" %) |(% style="width:83px" %) |(% style="width:99px" %) |(% style="width:229px" %) |(% style="width:224px" %)14,187 96 +|(% style="width:476px" %)Number of automated fuel stations included in the period-end figures|(% style="width:190px" %)979|(% style="width:83px" %)—|(% style="width:99px" %)9|(% style="width:229px" %)—|(% style="width:224px" %)988 87 87 88 88 99 +[[image:TARD5.png]] 100 + 101 + 102 += Financial Highlights = 103 + 104 + 105 +The company's revenues were $14.2 billion for the second quarter of fiscal 2022, up by $3.6 billion, an increase of 33.5% compared with the corresponding quarter of fiscal 2021. This performance is mainly attributable to a higher average road transportation fuel selling price, the contribution from acquisitions, higher fuel demand, as well as the net positive impact from the translation of revenues of its Canadian and European operations into US dollars, which had an impact of approximately $92.0 million.{{footnote}}https://corpo.couche-tard.com/wp-content/uploads/2021/11/2022-Q2-Press-Release-En.pdf{{/footnote}} 106 + 107 + 89 89 For the first half-year of fiscal 2022, its revenues increased by $7.4 billion, or 36.5% compared with the corresponding period of fiscal 2021, mainly attributable to similar factors as those of the second quarter. 90 90 91 91 92 -Merchandise and service revenues 111 +**Merchandise and service revenues** 93 93 94 94 Total merchandise and service revenues for the second quarter of fiscal 2022 were $4.0 billion, an increase of $218.1 million compared with the corresponding quarter of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, merchandise and service revenues increased by approximately $183.0 million, or 4.9%. This increase is primarily attributable to the contribution from acquisitions, which amounted to approximately $170.0 million. Same-store merchandise revenues increased by 1.4% in the United States, 3.9% in Europe and other regions, and decreased by 2.1% in Canada. On a 2-year basis, same-store merchandise revenues increased at a solid compound annual growth rate of 2.9% in the United States, 6.3% in Europe and 4.5% in Canada. 95 95 ... ... @@ -96,7 +96,7 @@ 96 96 For the first half-year of fiscal 2022, the growth in merchandise and service revenues was $428.3 million compared with the corresponding period of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, merchandise and service revenues increased by approximately $276.0 million, or 3.6%. Same- store merchandise revenues increased by 0.6% in the United States, 4.9% in Europe and other regions, and decreased by 6.1% in Canada. 97 97 98 98 99 -Road transportation fuel revenues 118 +**Road transportation fuel revenues** 100 100 101 101 Total road transportation fuel revenues for the second quarter of fiscal 2022 were $10.1 billion, an increase of $3.3 billion compared with the corresponding quarter of fiscal 2021. Excluding the net positive impact from the translation of revenues of its Canadian and European operations into US dollars, road transportation fuel revenues increased by approximately $3.2 billion, or 47.1%. This increase is mostly attributable to a higher average road transportation fuel selling price, which had a positive impact of approximately $3.0 billion, as well as to higher fuel demand. Same-store road transportation fuel volume increased by 3.3% in the United States, 2.8% in Canada, and decreased by 0.3% in Europe and other regions. On a 2-year basis, same-store road transportation fuel volume decreased at a compound annual rate of 6.5% in the United States, 2.0% in Europe and 4.9% in Canada. While Alimentation Couche-Tard is seeing improvement in fuel demand, fuel volumes are still generally under pressure across its network, with continued work from home trends, as well as evolving restrictive social measures. 102 102 ... ... @@ -103,12 +103,12 @@ 103 103 For the first half-year of fiscal 2022, the road transportation fuel revenues increased by $6.9 billion compared with the corresponding period of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, road transportation fuel revenues increased by approximately $6.6 billion, or 52.6%. The positive impact of the higher average road transportation fuel selling price was approximately $5.7 billion. Same-store road transportation fuel volume increased by 7.4% in the United States, 2.8% in Europe and other regions, and 6.3% in Canada. 104 104 105 105 106 -Other revenues 125 +**Other revenues** 107 107 108 108 Total other revenues for the second quarter and first half-year of fiscal 2022 were $163.4 million and $279.1 million, respectively, an increase of $79.0 million and $108.1 million compared with the corresponding periods of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, other revenues increased by approximately $79.0 million and $99.0 million in the second quarter and first half-year of fiscal 2022, respectively, primarily driven by higher average selling prices and higher demand of its other fuel products, which had a minimal impact on gross profit. 109 109 110 110 111 -Gross profit 130 +**Gross profit** 112 112 113 113 The company's gross profit was $2.6 billion for the second quarter of fiscal 2022, up by $126.1 million, or 5.1%, compared with the corresponding quarter of fiscal 2021, mainly attributable to the contribution from acquisitions, higher fuel demand, improved merchandise and service gross margin and the net positive impact from the translation of its Canadian and European operations into US dollars, which had an impact of approximately $19.0 million. 114 114 ... ... @@ -116,7 +116,7 @@ 116 116 For the first half-year of fiscal 2022, its gross profit increased by $237.5 million, or 4.8%, compared with the first half-year of fiscal 2021, mainly attributable to higher fuel demand, the net positive impact from the translation of its Canadian and European operations into US dollars and the contribution from acquisitions, partly offset by lower road transportation fuel gross margins in the United States. 117 117 118 118 119 -Merchandise and service gross profit 138 +**Merchandise and service gross profit** 120 120 121 121 In the second quarter of fiscal 2022, its merchandise and service gross profit was $1.4 billion, an increase of $83.6 million compared with the corresponding quarter of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, merchandise and service gross profit increased by approximately $72.0 million, or 5.6%, mainly attributable to the contribution from acquisitions, which amounted to approximately $49.0 million. The company's gross margin increased by 0.2% in the United States to 33.8%, and 0.4% in Canada to 32.3%, mainly due to favorable changes in product mix as customers are favoring smaller sized packaging, including single serves. The company's gross margin decreased by 1.8% in Europe and other regions to 38.4%, mainly due to the integration of Circle K Hong Kong, which has a different product mix than its European operations. Excluding Circle K Hong Kong, its gross margin in Europe and other regions would have been 42.2%, driven by favorable changes in product mix. 122 122 ... ... @@ -124,14 +124,16 @@ 124 124 During the first half-year of fiscal 2022, its merchandise and service gross profit was $2.8 billion, an increase of $163.4 million compared with the first half-year of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, merchandise and service gross profit increased by approximately $111 .O million, or 4.3%. The company's gross margin was stable at 34.0% in the United States, decreased by 2.0% in Europe and other regions to 38.4%, and increased by 0.8% in Canada to 32.3%. 125 125 126 126 127 -Road transportation fuel gross profit 146 +**Road transportation fuel gross profit** 128 128 129 129 In the second quarter of fiscal 2022, its road transportation fuel gross profit was $1.2 billion, an increase of $45.2 million compared with the corresponding quarter of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, its road transportation fuel gross profit increased by approximately $38.0 million, or 3.3%. In the United States, its road transportation fuel gross margin was 36.39 cents per gallon, an increase of O. 18 cents per gallon. In Europe and other regions, it was US 10.57 cents per liter, a decrease of US 0.53 cents per liter, and in Canada, it was CA 11.0" per liter, an increase of CA 1.02 cents per liter. Fuel margins remained healthy throughout its network, from a favorable competitive landscape and a strong sourcing efficiency. 130 130 131 131 132 - EBITDA151 +[[image:TARD6.png]] 133 133 134 134 154 +**EBITDA** 155 + 135 135 During the first half-year of fiscal 2022, its road transportation fuel gross profit was $2.3 billion, an increase of $80.7 million compared with the first half-year of fiscal 2021. Excluding the net positive impact from the translation of its Canadian and European operations into US dollars, road transportation fuel gross profit increased by approximately $37.0 million, or 1.60/0. The road transportation fuel gross margin was 36.57 cents per gallon in the United States, US 10.4 cents per liter in Europe and other regions, and CA 11.02$ per liter in Canada. 136 136 137 137 ... ... @@ -144,7 +144,7 @@ 144 144 The income tax rate for the second quarter of fiscal 2022 was 21.3 % compared with 20.4% for the corresponding period of fiscal 2021. The increase for the second quarter of fiscal 2022 is mainly stemming from the impact of a different mix in its earnings across the various jurisdictions in which the company operate, as well as from prior year gains taxable at a lower income tax rate. 145 145 146 146 147 -Net earnings and adjusted net earnings 168 +**Net earnings and adjusted net earnings** 148 148 149 149 Net earnings for the second quarter of fiscal 2022 were $694.8 million, compared with $757.0 million for the second quarter of the previous fiscal year, a decrease of $62.2 million, or 8.2%. Diluted net earnings per share stood at $0.65, compared with $0.68 for the corresponding quarter of the previous fiscal year. The translation of revenues and expenses from its Canadian and European operations into US dollars had a net positive impact of approximately $6.0 million on net earnings of the second quarter of fiscal 2022. 150 150 ... ... @@ -158,6 +158,6 @@ 158 158 Adjusted net earnings for the first half-year of fiscal 2022 stood at $1.5 billion, a decrease of $79.0 million, or 5.2%, compared with the first half-year of fiscal 2021. Adjusted diluted net earnings per Share were $1.35 for the first half-year of fiscal 2022, compared with $1.37 for the first half-year of fiscal 2021, a decrease of 1.5%. 159 159 160 160 161 -References 182 += References = 162 162 163 163 {{putFootnotes/}}