SPEEDY HIRE PLC Strong foundations...
accelerating sustainable growth
Speedy Hire Plc
Annual Report and Accounts 2023
Welcome
Speedy Hire is the UK's leading provider of tools and equipment hire,
and services, to customers ranging from the largest national infrastructure contractors through to SMEs, tradespeople and retail consumers.
Our hire and services business operates through an omni-channel approach including approximately 180 trading locations in the UK and Ireland, including concessions within selected B&Q stores and on-site facilities at customer locations, central service hubs and digitally online at our website speedyservices.com and via our mobile app. We also operate internationally through a joint venture in Kazakhstan.
Strategic Report | Governance | Financial Statements | |||
01 | Awards | 84 | Chairman's letter to shareholders | 140 | Consolidated Income Statement |
02 | Key achievements | 85 | Directors' Report | 141 | Consolidated Statement of |
03 | Our ambition | 89 | Statement of Directors' | Comprehensive Income | |
04 | Speedy Hire at a glance | Responsibilities | 142 | Consolidated Balance Sheet | |
06 | What we do | 90 | Board of Directors | 143 | Consolidated Statement of |
08 | Investment case | 92 | Corporate Governance | Changes in Equity | |
10 | Market focus | 100 | Audit & Risk Committee Report | 144 | Consolidated Cash Flow Statement |
12 | Chairman's Statement | 106 | Nomination Committee Report | 145 | Notes to the Financial Statements |
14 | Chief Executive's Review | 108 | Sustainability Committee Report | 176 | Company Balance Sheet |
18 | Our growth strategy | 110 | Remuneration Report | 177 | Company Statement of Changes |
24 | Financial KPIs | 130 | Independent auditor's report to the | in Equity | |
26 | ESG report | members of Speedy Hire Plc | 178 | Company Cash Flow Statement | |
66 | Non-financial information statement | 179 | Notes to the Company Financial | ||
67 | Section 172 statement and | Statements | |||
engagement with stakeholders | 185 | Five-year summary | |||
70 | Financial Review | 186 | Corporate information |
- Principal risks and uncertainties
- Viability statement
Strategic Report | Governance | Financial Statements | Corporate Information | 01 | |||
Awards
ISS Prime: Ranked as an industry leader for sustainability.
EcoVadis Silver: Ranked in the top
25% of companies for sustainability in recognition of the Company's work to reduce its environmental impact.
Carbon Disclosure Programme Grade B Accreditation: For our ability to show real progress in operational practices and transparency in our environmental impact.
A+ Energy Performance Certificate (EPC): Achieved at our Innovation Centre in Milton Keynes which is now carbon negative, giving back energy to the grid.
Hire Awards of
Excellence: Highly
Commended in the
'Best Sustainability
& CSR Initiative'.
RoSPA Gold: Achieved for the 9th year running.
Construction News Awards: Shortlisted for the Supply Chain Excellence Award to be announced July 2023.
Fleet News Awards: Highly Commended for the Wellbeing and Inclusivity in Fleet Award.
Youth Verified: Successful verification as a Youth Verified Business by Youth Group, the UK's largest community of young people.
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Annual Report and Accounts 2023
Key achievements
Highlights FY2023
Speedy Hire Plc
Velocity growth strategy
Launched Velocity, our strategy to drive revenue growth and improve margins.
Zero carbon equipment investment
Expanded the exclusive provision of the Milwaukee MX Fuel range of battery powered assets to extend our fleet of low and zero carbon equipment.
Electric vehicle fleet expansion
Introduced 150 new electric vans to reduce up to 1,280 tonnes of CO2e per year from our commercial fleet emissions.
Industry first ECO generators
Launched an industry-firstroll-out of retrofitted Stage V emission compliant generators, boosting the availability of greener generators to the construction industry.
Sustainable Service Centres
Opened the latest brand new low carbon Regional Services Centres in our ongoing programme to more sustainably and efficiently service customers in West Yorkshire and Staffordshire.
Above: In June, Prime Minister Rishi Sunak visited our industry-first,carbon-negative Innovation Centre to see the ground-breaking work
we're undertaking to develop net zero carbon operational facilities, products and logistics.
Youth Verified
B&Q partnership extension
Extended our B&Q partnership to launch tool hire on both diy. com and tradepoint.co.uk in 2023, fulfilled exclusively by Speedy Hire.
Supporting Ukraine
Supported the UK Government in providing 287 generators to Ukraine; enough to operate the equivalent of c.8,000 homes, and help run relief centres, hospitals, phone masts and water pumping stations.
Home delivery from B&Q
Announced being able to provide home delivery tool hire from approximately 300 B&Q stores nationwide.
Early careers investment
Invested in over 100 early careers trainees across the UK to help boost our skills base and the industry's talent pipeline.
Emerging Talent
Development Board
Implemented an industry-leading Emerging Talent Development Board, to work alongside the Executive Team in assisting the strategic development of the business.
Became a Youth Verified Business, setting a new standard for inclusivity and innovation in
the workforce.
Neurodivergent support
Became one of the founding members of Neurodiversity in Business (the NiB), an industry forum to support the participation of neurodivergent individuals in the workplace.
The Speedy Hire Expo
After an absence of two years due to the COVID-19 pandemic, we welcomed back over 1,700 customers, colleagues, supply chain partners and leading figures in ESG and innovation to the hire industry's leading event; the Speedy Hire Expo.
Strategic Report | Governance | Financial Statements | Corporate Information | 03 |
Our ambition
Our Vision
To inspire and innovate the future of hire and accelerate sustainable growth.
Our Mission
To be the most efficient and sustainable UK hire business: digital and data driven, optimised through operational excellence and powered by our people.
Our Values
People First
Ambitious
Innovative
Inclusive
Safe
Together
Trusted
We lead with bravery to make anything possible
We nurture a culture where ideas grow
We are all unique, and we all belong
We share a collective responsibility to keep everyone safe
We are family, proud to work as one to make great things happen
We are responsible and do the right thing, always
Annual Report andSpeedy HireAccountsPlc2023
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Disclaimer
Speedy Hire plc published this content on 13 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2023 15:49:06 UTC.
