Preliminary Results -8-
March 21 2011 - 3:00AM
UK Regulatory
An operating segment is a component of the Group that engages in
business activities from which it may earn revenues and incur
expenses, including those that relate to transactions with other
operating segments. An operating segment's results are reviewed
regularly by the chief operating decision maker to make decisions
about resources to be allocated to the segment and assess its
performance, and for which discrete financial information is
available.
The business is run on a worldwide basis but managed through
four principal geographical segments; Americas; Europe, Middle East
and Africa (EMEA); Asia Pacific; and the United Kingdom. The United
Kingdom segment does not include the Group's non-trading holding
and corporate management companies that are based in the UK and the
EMEA segment does not include the Group's non-trading head office
and holding companies that are based in Luxembourg. The results of
business centres in each of these regions form the basis for
reporting geographical results to the chief operating decision
maker (the Board of Directors of the Group). All reportable
segments are involved in the provision of global workplace
solutions.
Each reportable segment has its own discrete senior management
team responsible for the performance of the segment.
The accounting policies of the operating segments are the same
as those described in the Annual Report and Accounts for Regus plc
for the year ended 31 December 2010.
United All other
GBPm Americas EMEA Asia Pacific Kingdom segments Total
Twelve
months
ended 31
December 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009
Revenues
from
external
customers 436.9 423.8 281.2 306.2 141.7 132.3 178.9 191.4 1.7 1.4 1040.4 1,055.1
Revenues
from
internal
customers -- -- 1.1 1.1 -- -- 0.9 0.9 -- -- 2.0 2.0
------------ ------ ------ ------ ------ ------ ------ ------- ------ ----- ----- -------- --------
Segment
revenues 436.9 423.8 282.3 307.3 141.7 132.3 179.8 192.3 1.7 1.4 1042.4 1,057.1
Reportable
segment
profit 32.5 35.0 17.3 38.7 18.7 25.3 (12.2) (2.9) 0.8 0.4 57.1 96.5
Reportable
segment
assets 524.7 469.5 247.9 258.8 162.5 129.4 306.4 292.2 1.3 1.4 1,242.8 1,151.3
------------ ------ ------ ------ ------ ------ ------ ------- ------ ----- ----- -------- --------
Note 2: Operating segments (continued)
Reconciliation of reportable segment profit to published
profit:
Year ended Year ended
GBPm 31 Dec 2010 31 Dec 2009
Reportable segment profit 57.1 96.5
Corporate overheads (34.5) (25.2)
Central costs -- (1.8)
Exceptional net income from legal
settlement -- 18.3
Exceptional 2010 restructuring plan (15.8) (2.6)
Foreign exchange gains and losses
on inter-segment transactions (0.1) 0.8
Share of post-tax profit of joint
ventures 1.3 2.0
Net financing expense (0.2) (1.1)
------------------------------------- ------------- -------------
Published Group profit before tax 7.8 86.9
------------------------------------- ------------- -------------
Note 2: Operating segments (continued)
Segmental management basis - unaudited
Asia All other
Americas EMEA Pacific UK segments Total
-------------- --------- ------- ----------- ------- ---------- --------
2010 2010 2010 2010 2010 2010
-------------- --------- ------- ----------- ------- ---------- --------
Mature
-------------- --------- ------- ----------- ------- ---------- --------
Workstations 70,384 33,149 20,772 32,571 -- 156,876
-------------- --------- ------- ----------- ------- ---------- --------
Occupancy
(%) 79.7 77.4 79.6 75.8 -- 78.4
-------------- --------- ------- ----------- ------- ---------- --------
Revenue
(GBPm) 420.0 266.5 131.6 171.6 1.7 991.4
-------------- --------- ------- ----------- ------- ---------- --------
Contribution
(GBPm) 100.6 66.4 37.9 13.6 1.4 219.9
-------------- --------- ------- ----------- ------- ---------- --------
2009
Expansions
-------------- --------- ------- ----------- ------- ---------- --------
Workstations 1,185 1,180 734 1,278 -- 4,377
-------------- --------- ------- ----------- ------- ---------- --------
Occupancy
(%) 67.0 62.0 54.1 50.0 -- 58.5
-------------- --------- ------- ----------- ------- ---------- --------
Revenue
(GBPm) 5.3 4.8 5.0 3.9 -- 19.0
-------------- --------- ------- ----------- ------- ---------- --------
Contribution
(GBPm) (0.2) 0.3 2.7 0.1 -- 2.9
-------------- --------- ------- ----------- ------- ---------- --------
2010
Expansions
-------------- --------- ------- ----------- ------- ---------- --------
Workstations 2,013 1,706 1,838 666 -- 6,223
-------------- --------- ------- ----------- ------- ---------- --------
Occupancy
(%) 62.0 61.5 41.7 51.6 -- 54.8
-------------- --------- ------- ----------- ------- ---------- --------
Revenue
(GBPm) 8.7 9.4 4.8 2.2 -- 25.1
-------------- --------- ------- ----------- ------- ---------- --------
Contribution
(GBPm) (0.6) (2.1) (3.7) (0.6) -- (7.0)
-------------- --------- ------- ----------- ------- ---------- --------
Closures
-------------- --------- ------- ----------- ------- ---------- --------
Workstations 683 85 93 336 -- 1,197
-------------- --------- ------- ----------- ------- ---------- --------
Occupancy
(%) 75.3 70.2 50.5 57.0 -- 67.9
-------------- --------- ------- ----------- ------- ---------- --------
Revenue
(GBPm) 2.9 0.5 0.3 1.2 -- 4.9
-------------- --------- ------- ----------- ------- ---------- --------
Contribution
(GBPm) (0.7) 1.2 (0.5) 0.1 -- 0.1
-------------- --------- ------- ----------- ------- ---------- --------
Totals
Workstations 74,265 36,120 23,437 34,851 -- 168,673
Occupancy
(%) 79.0 76.1 75.8 74.3 -- 76.9
Revenue
(GBPm) 436.9 281.2 141.7 178.9 1.7 1,040.4
Segment
Contribution
(GBPm) 99.1 65.8 36.4 13.2 1.4 215.9
Unallocated
contribution
(GBPm) -- -- -- -- -- --
Total
contribution
(GBPm) 99.1 66.2 36.5 12.2 1.0 215.9
-------------- --------- ------- ----------- ------- ---------- --------
REVPAW (GBP) 5,883 7,785 6,046 5,133 - 6,168
-------------- --------- ------- ----------- ------- ---------- --------
Note 2: Operating segments (continued)
Segmental management basis - unaudited
Asia All other
Americas EMEA Pacific UK segments Total
================ ========= ======= ========= ======= ========== ========
2009 2009 2009 2009 2009 2009
================ ========= ======= ========= ======= ========== ========
Mature
================ ========= ======= ========= ======= ========== ========
Workstations 69,088 33,085 20,809 32,370 -- 155,352
================ ========= ======= ========= ======= ========== ========
Occupancy (%) 79.1 79.6 75.8 77.9 -- 78.4
================ ========= ======= ========= ======= ========== ========
Revenue (GBPm) 409.4 299.1 129.1 187.2 1.4 1,026.2
================ ========= ======= ========= ======= ========== ========
Contribution
(GBPm) 93.8 85.1 39.0 19.6 1.0 238.7
================ ========= ======= ========= ======= ========== ========
2009 Expansions
================ ========= ======= ========= ======= ========== ========
Workstations 707 657 260 439 -- 2,063
================ ========= ======= ========= ======= ========== ========
Occupancy (%) 46.0 41.3 34.9 31.1 -- 39.9
================ ========= ======= ========= ======= ========== ========
Revenue (GBPm) 2.1 2.0 1.5 0.6 -- 6.2
================ ========= ======= ========= ======= ========== ========
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