Full Year 2024 Rentokil Initial PLC Earnings Presentation Transcript

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

Question: Simona Sarli - Bank of America - Analyst : This is Simona Sarli from Bank of America. So first of all, if we start from the digital leads and also the progress that you made with your new digital tools and IT systems. So it sounds like it is effectively now across 250 branches, which should be roughly 80% of your legacy branches and 20% of the combined ones. So the question is, if we look like the digital leads now in Q1 that you mentioned that they are still weaker. Can you differentiate between the branches where you have rolled out those systems and those that are still on the legacy ones? And the second question, what has been the challenge in rolling out these systems? So why we are still at the 250 branches? And what should we expect in terms of 2025? Second topic would be more related to the new incentive scheme for the sales force and the differentiating commission structure that you are talking about between contracts and one-off work. So on this one, what has been so far the feedback from the sales people? And what is the percentage of the sales force that has been rolled out on this new scheme? Third and last question, it is

Question: Simona Sarli - Bank of America - Analyst : Sorry, it is on cost synergies. Yes. And I appreciate, Paul, in your initial remarks where you said that it is difficult to compare it to the old target of more than $200 million. But what has changed since then? Because I would have assumed that already at the time you were factoring in also the impact of inflation?