Full Year 2020 Rentokil Initial PLC Earnings Call - Q&A Session Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Sylvia Pavlova Barker - JPMorgan Chase & Co, Research Division - Analyst : Two questions from me, please. Firstly, obviously, you've not referred to the organic and we have tried to guesstimate the various kind of impacts from acquisitions. But just broadly speaking, could you talk around kind of the organic excluding disinfection into Q4? And what you're seeing so far into Q1? So my initial impression is that it was probably similar to -- a little bit weaker into Q4 relative to Q3. So it will be helpful just to hear your thoughts on that. Secondly, on the 3% to 4% organic, could you clarify -- that's in the 2021 outlook section. Could you clarify, that comment on 2021 and for the medium term? And just to understand within the 3% to 4%, you expect -- we still expect that the (inaudible) the Hygiene growth has been upgraded to 4% to 6% from 2% to 3% previously. Is it -- is something else being downgraded within that? Or how should we think about it? And then finally, in North America, obviously, a lot of moving parts. Could you maybe just remind us the kind of pound million revenue from your pest services business or data for the 2020 figure? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Andrew Charles Grobler - CrTdit Suisse AG, Research Division - Analyst : Three questions, if I may. The first one, just on cost savings, you called out the GBP 122 million last year. How much kind of net comes back in '21 and '22? Secondly, around Hygiene and international expansion into those new countries. Excluding the disinfection work, what kind of scale did you achieve last year? And when you look at those markets, can you give us a kind of quantum of potential size and also whether margins and returns are similar in those new areas once you reach a certain scale than the countries you already operate in? And then lastly, just on colleague retention, which you called out at 89%. Maybe in specific markets, U.S. Pest Control or whatever is most relevant. How would that compare to the competition? And what kind of benefits -- apart from the, obviously, social benefits, what kind of commercial benefits do you think that provides to the group?

Question: Andrew Charles Grobler - CrTdit Suisse AG, Research Division - Analyst : Yes, sorry. I wasn't sure that there was -- I wasn't very clear what to think from that. So if the savings were GBP 122 million last year, what should we -- round about, should we assume? Do they all just disappear? Or is it kind of GBP 100 million goes back in? Or any kind of quantification would be very helpful.