SSP : Annual Report and Accounts 2021

A stronger, better business

Annual Report and Accounts 2021

"We can respond to the specific needs of passengers as they travel around the world."

Our Brand Portfolio

We have around 550 brands in our portfolio, from well-known grab & go sandwich shops and cafés, to bespoke high end bars and restaurants, which means we can respond to the specific needs of passengers as they travel around the world.

This wide range of brands helps us win and retain contracts, as it gives clients confidence in our ability to cater for their customers with a great selection of food and drink options.

We differentiate our brands between those we franchise and those we've created.

Brands we franchise

Local hero brands Bringing in well-knownlocal brands is one of the best ways to evoke the true atmosphere of the city that the travel hub serves.

Brands we have created

Our own brands

We have been creating and running our own brands for nearly 60 years, starting with Upper Crust, first established in the 1960s.

International brands

Over many decades, we have partnered with some of the world's biggest names, which trust us to serve their customers to the highest standards.

Bespoke concepts

We are experts at developing bespoke concepts which we have created in collaboration with clients, brand partners and leading chefs to bring a 'sense of place' to the location we serve.

Our global reach	We operate across 36 countries	Frabel, Netherlands, Spain and
	and territories, across four key	the Nordics)
	operating regions (or reportable	3) North America (USA, Canada
	segments):	and Bermuda); and
	1) UK (UK and the Republic	4) Rest of the World (Asia Pacific,
	of Ireland);	India, Eastern Europe, Middle
	2) Continental Europe (DACH,	East and Brazil).

2021 highlights
Financial		Strategic and operational		Key facts
£834.2m		c.1,850	c.550
Revenue	Units open by year end	Brands
£309.2m	115	c.23K
Operating loss on a	New units won	Colleagues
reported basis under
IFRS 16
£935m	30%	c.2,700
Available liquidity	FY sales vs 2019	Units
at year end
			36

Countries

Who we are

SSP is a leading operator of food and beverage outlets in travel locations worldwide, principally airport and railway stations.

All of our outlets, from quick service to fine dining, are developed or tailored to be run in high-volume travel locations to meet the evolving needs of our customers and our clients.

Our people are the heart of our business. Our c. 23,000 colleagues around the world demonstrate knowledge, passion and the highest possible standards in everything they do.

Contents

Overview

GF Our Brand Portfolio Our global reach 2021 highlights

01 A stronger, better business

Strategic report

10 Chair's statement

1. Group Executive Committee

1. Business review

1. Understanding our market

1. Our business model

1. Our strategy

1. Key performance indicators

1. Embedding sustainability into our business

1. Creating sustainable value

1. Our people

1. Workforce engagement Q&A
2. Non-financialinformation statement
3. Risk management and principal risks

1. Viability statement

1. Financial review

More information

foodtravelexperts.com

Corporate Governance Report

82 Corporate Governance Letter from the Chair

84 Board of Directors

1. Governance and structures

1. Board leadership and Company purpose

1. Summary of the Board's activities in the 2021 financial year

1. Nomination Committee Report

1. Audit Committee Report

1. Directors' Remuneration Report

1. Directors' Remuneration Policy

1. Directors' Report

1. Statement of Directors' Responsibilities in respect of the Annual Report and Accounts and the financial statements

Financial statements

138 Independent auditor's report to the members of SSP Group plc

1. Consolidated Income Statement
2. Consolidated Statement of other Comprehensive Income
3. Consolidated Balance Sheet
4. Consolidated Statement of Changes in Equity
5. Consolidated Cash Flow Statement
6. Notes to Consolidated Financial Statements

1. Company Balance Sheet
2. Company Statement of Changes in Equity
3. Notes to Company Financial Statements

IBC Company Information

A stronger, better business

Delivering for our stakeholders This has been a challenging year for the business as travel restrictions significantly impacted passenger numbers at airports and railway stations. However, though trading has been difficult, we have taken the opportunity to strengthen our foundations and ensure we are in the strongest possible position to capitalise on the recovery.

Our ambition of being the number one food and beverage provider in travel locations worldwide remains unchanged and we remain fully committed to delivering sustainable growth for the benefit of all our stakeholders, notably our customers, clients, colleagues, brand partners, suppliers

and shareholders.

Overview

report Strategic

statements Financial governance Corporate

SSP Group plc Annual Report and Accounts 2021

01