Full Year 2020 Rentokil Initial PLC Earnings Presentation Transcript

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

Question: Sylvia Pavlova Barker - JPMorgan Chase & Co, Research Division - Analyst : 2 questions for me, please. Firstly, obviously, you've not disclosed the organic. And we have tried to guestimate 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 are you 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. But 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 on the medium term? And just to understand within the 3% to 4%, if Pest is still expected to grow at 5% and 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 millions revenue from your pest services business or [details] for the 2020 figure?

Question: Andrew Charles Grobler - CrTdit Suisse AG, Research Division - Analyst : 3 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 disinfectant work, what kind of scale did you achieve last year? And when you look at those markets, can you give us any 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 the most relevant, how would that compare to the competition? And what kind of benefits -- apart from the [obviously crucial] benefits -- what kind of commercial benefits do you think that provides to the group? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 04, 2021 / 9:00AM, RTO.L - Full Year 2020 Rentokil Initial PLC Earnings Presentation

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