assets acquired from TotalEnergies SE from October 16, 2023 to the
acquisition date as well as the estimated impact of synergies and
required capital expenditures for the same period. EBIT used in
determining this adjustment is derived from unaudited financial
information. Please refer to the "Forward-Looking Statements" section
for additional information on expected synergies
(2) The table below reconciles balance sheet line items, as per IFRS
Accounting Standards, to capital employed:
__________________
(1) The information as at April 28, 2024 has been adjusted based on our final
estimates of the fair value of assets acquired and liabilities assumed
for the acquisition of convenience retail and fuel sites operating under
the MAPCO brand, and on our preliminary estimates of the fair value of
assets acquired and liabilities assumed for the acquisition of certain
European retail assets from TotalEnergies SE.
As at
(in millions of As at As at As at April 30,
US dollars) October 13, 2024 October 15, 2023 April 28, 2024(1) 2023(1)
---------------- ---------------- ---------------- ----------------- ---------
Total Assets 37,109.1 30,397.6 36,976.6 29,058.4
---------------- ---------------- ---------------- ----------------- ---------
Less: Current
liabilities (7,648.2) (6,060.8) (7,825.9) (5,166.5)
Add:
Short-term
debt and
current
portion of
long-term
debt 1,276.9 823.4 1,066.8 0.7
Add: Current
portion of
lease
liabilities 502.1 431.2 503.6 438.1
---------------- ---------------- ---------------- ----------------- ---------
Capital employed 31,239.9 25,591.4 30,721.1 24,330.7
---------------- ---------------- ---------------- ----------------- ---------
(3) Represents the estimated impact of the European retail assets acquired
from TotalEnergies SE on the opening balance of capital employed, using
the same calculation methodology and based on the preliminary estimates
of the fair value of assets acquired and liabilities assumed for this
acquisition at the acquisition date.
____________________
(1) The information as at April 30, 2023 has been adjusted based on our final
estimates of the fair value of assets acquired and liabilities assumed
for True Blue Car Wash LLC and Big Red Stores acquisitions.
Profile
Couche-Tard is a global leader in convenience and mobility, operating in 31 countries and territories, with more than 16,800 stores, of which approximately 13,000 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, Belgium, as well as in Ireland. It also has an important presence in Luxembourg, Germany, the Netherlands, Poland, as well as in Hong Kong Special Administrative Region of the People's Republic of China. Approximately 149,000 people are employed throughout its network.
For more information on Alimentation Couche-Tard Inc., or to consult its audited annual Consolidated Financial Statements, unaudited interim condensed consolidated financial statements and Management Discussion and Analysis, please visit: https://corpo.couche-tard.com.
Forward-looking statements
The statements set forth in this press release, which describes Couche-Tard's objectives, projections, estimates, expectations, or forecasts, may constitute forward-looking statements within the meaning of securities legislation. Positive or negative verbs such as "believe", "can", "shall", "intend", "expect", "estimate", "assume", and other related expressions are used to identify such statements. Couche-Tard would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results, or the measures it adopts, could differ materially from those indicated in or underlying these statements, or could have an impact on the degree of realization of a particular projection. Major factors that may lead to a material difference between Couche-Tard's actual results and the projections or expectations set forth in the forward-looking statements include the effects of the integration of acquired businesses and the ability to achieve projected synergies, ongoing military conflicts, fluctuations in margins on motor fuel sales, competition in the convenience store and retail motor fuel industries, exchange rate variations, and such other risks as described in detail from time to time in the reports filed by Couche-Tard with securities authorities in Canada and the United States. Among other things, our synergies objective is based on our comparative analysis of organizational structures and current level of spending across our network as well as on our ability to bridge the gap, where relevant. Our synergies objective is also based on our assessment of current contracts in the geographical areas of operations and how we expect to be able to renegotiate these contracts to take advantage of our increased purchasing power. In addition, our synergies objective assumes that we will be able to establish and maintain an effective process for sharing best practices across our network. Finally, our objective is also based on our ability to integrate acquired business. An important change in these facts and assumptions could significantly impact our synergies estimate as well as the timing of the implementation of our different initiatives. Unless otherwise required by applicable securities laws, Couche-Tard disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking information in this release is based on information available as of the date of the release.
Webcast on November 26, 2024 at 8:00 A.M. $(EST.UK)$
Couche-Tard invites analysts known to the Corporation to ask their questions to its management on November 26, 2024, during the question and answer period of the webcast.
Financial Analysts, Investors, media and any individuals interested in listening to the webcast on Couche-Tard's results, which will take place online on November 26, 2024, at 8:00 A.M. (EST) can do so by either accessing the Corporation's website at https://corpo.couche-tard.com/ and by clicking in the "Investors/Events & Presentations" section or by using the following link https://emportal.ink/40oASZx to join the conference call without the assistance of an operator. An automated system will automatically return the call to grant you access to the conference call.
Another option could be to access the conference call through an operator by dialing 1-289-819-1299 or the international number 1-800-990-4777.
Rebroadcast: For individuals who will not be able to listen to the live webcast, a recording of the webcast will be available on the Corporation's website for a period of 90 days.
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SOURCE Alimentation Couche-Tard Inc.
/CONTACT: Contacts: Investor relations: Mathieu Brunet, Vice President, Investor Relations & Treasury, Tel: $(450.UK)$ 662-6632, ext. 4362, investor.relations@couche-tard.com; Media relations: Lisa Koenig, Head of Global Communications, Tel: (450) 662-6632, ext. 6611, communication@couche-tard.com
(END) Dow Jones Newswires
November 25, 2024 17:05 ET (22:05 GMT)
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