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FOCUS
O N
GROWTH
ANNUAL REPORT 2022
Visit our website for related information: www.compass-group.com
Our 2022 Sustainability Report will be available online in January 2023.
STRATEGIC REPORT
2 Business model
4 Chair’s letter
5 Market review
6 Chief Executive’s review
8 Our strategy
9 Key Performance Indicators
10 Health and Safety
11 Ethics and Integrity
12 Performance
13 Operating framework
14 Financial review
20 Regional reviews
22 Risk management
24 Principal risks
29 Viability statement
30 People
36 Purpose
43 Task Force on Climate-related
Financial Disclosures
51 Non-financial information statement
CORPORATE GOVERNANCE AND DIRECTORS’ REPORT
52 Chair’s letter
53 Compliance with UK Corporate Governance Code2018
54 Board of Directors
58 Executive Committee
62 Governance
68 Stakeholder engagement
74 Audit Committee report
79 Corporate Responsibility Committee report
82 Nomination Committee report
86 Directors’ Remuneration report
114 Other statutory disclosures
118 Directors’ responsibilities statement
INDEPENDENT AUDITOR’S REPORT
119 Independent Auditor’s report
FINANCIAL STATEMENTS
128 Consolidated financial statements
134 Group accounting policies
144 Notes to the consolidated financial statements
213 Parent Company financial statements
215 Parent Company accounting policies
217 Notes to the Parent Company financial statements
SHAREHOLDER INFORMATION
220 Shareholder information
CONTENTS
Compass Group PLC, the parent company of the Group, is a non-trading investment holding company
which derives its distributable reserves from dividends paid by subsidiary companies.
COMPASS PROVIDES DELICIOUS AND
NUTRITIOUS MEALS TO MILLIONS OF PEOPLE
IN AROUND 40 COUNTRIES.
Our extensive portfolio of B2B brands allowsus to
create a bespoke food and serviceoffer for our
clients and consumers. We operate acrossfive
distinct sectors to meet the different organisational
needs of our clients.
Our strategic focus on People, Performance and
Purpose continues to underpin all that we do in our
ambition to deliver value to all our stakeholders.
GREAT PEOPLE
GREAT SERVICE
GREAT RESULTS
1COMPASS GROUP PLC | ANNUAL REPORT 2022
BUSINESS MODEL
GLOBAL LEADER
IN FOOD SERVICES
Sectorisation is the key to our long-term success
Our global reach
We operate in
c.40
countries
North America
67%
of underlying
revenue
APM
Europe
23%
of underlying
revenue
APM
Rest of World
10%
of underlying
revenue
APM
across
3
geographic regions
and
5
sectors
Business & Industry
33% of underlying revenue
APM
We utilise our scale, experience
and digital capabilities to offer our
clients attractive cost benefits,
tailored menus and a wide range
ofinnovative dining solutions
thatcan add flexibility to their
operatingmodels.
Education
19% of underlying revenue
APM
We strive to provide healthy,
balanced meals right through the
learning journey, from nursery to
higher education. Our catering
solutions come in multiple
formats,from traditional onsite
dining to vending and delivery or
takeaway options.
Healthcare & Senior Living
26% of underlying revenue
APM
We work directly with healthcare
providers to prepare food that
improves patient and senior living
experiences – from restaurant-
style cafés to in-room patient
dining and specialist feeding.
Sports & Leisure
14% of underlying revenue
APM
We have vast catering experience
within this market, providing food,
beverages and hospitality across
large stadiums, conference
venues, museums and galleries.
Defence, Offshore & Remote
8% of underlying revenue
APM
We are a leader in providing food
and support services to many
major oil, gas, mining and
construction companies.
Ourclients rely on us to
provideuninterrupted support,
however challenging the
operatingconditions.
APM
Alternative Performance Measure (APM). The Group’s APMs are defined in note 33 (non-GAAP measures) and reconciled to GAAP measures in notes 1
(segmental analysis) and 33 to the consolidated financial statements.
What we do
We are focused on food and targeted support services
While our core offer is the provision of outsourced food services
acrossthe world in certain markets and sectors, we also supply across the world in certain markets and sectors, we also supply
targeted support services, such as high-quality hospital cleaning.
We are particularly focused on new business growth in the food
services market, which is currently benefiting from an increase in
first-time outsourcing due to additional operational complexities
andinflationary pressuresand inflationary pressures.
UNDERLYING REVENUE
Food services
Support services
16%
84%
Food services
Support services
16%
84%
£25.8bn
APM
2 STRATEGIC REPORT