Rentokil Initial PLC Files 20-F for Fiscal Year Ended December 31, 2023

Ticker: RKLIF · Form: 20-F · Filed: Mar 27, 2024 · CIK: 930157

Rentokil Initial PLC /Fi 20-F Filing Summary
FieldDetail
CompanyRentokil Initial PLC /Fi (RKLIF)
Form Type20-F
Filed DateMar 27, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Rentokil Initial, 20-F Filing, Annual Report, Financial Performance, Risk Factors

TL;DR

<b>Rentokil Initial PLC submitted its 20-F annual report detailing its 2023 fiscal year performance and operations.</b>

AI Summary

RENTOKIL INITIAL PLC /FI (RKLIF) filed a Foreign Annual Report (20-F) with the SEC on March 27, 2024. Rentokil Initial PLC filed its annual report on Form 20-F for the fiscal year ending December 31, 2023. The filing covers financial performance and business operations for the period. Key financial metrics and risk factors are detailed within the report. The company's business address is Compass House, Manor Royal, Crawley, West Sussex, RH10 9PY. The filing was made on March 27, 2024.

Why It Matters

For investors and stakeholders tracking RENTOKIL INITIAL PLC /FI, this filing contains several important signals. This 20-F filing provides a comprehensive overview of Rentokil Initial PLC's financial health and strategic direction for investors and stakeholders. The detailed disclosures within the report are crucial for understanding the company's market position, risks, and future outlook in the services sector.

Risk Assessment

Risk Level: medium — RENTOKIL INITIAL PLC /FI shows moderate risk based on this filing. The company's operations are subject to various risks including interest rate fluctuations and currency exchange rate volatility, as indicated by specific risk management disclosures for USD, EUR, and GBP.

Analyst Insight

Review the detailed financial statements and risk factor disclosures in the 20-F to assess Rentokil Initial PLC's performance and potential challenges.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-03-27 — Filing Date (Filed as of date)
  • 0.02 — Growth Rate (Implied growth rate from previous periods)
  • 0.06 — Growth Rate (Implied growth rate from previous periods)

Key Players & Entities

  • RENTOKIL INITIAL PLC (company) — Filer name
  • 0000930157 (company) — Central Index Key
  • Compass House, Manor Royal (company) — Business address street 1
  • Crawley (company) — Business address city
  • West Sussex (company) — Business address state
  • RH10 9PY (company) — Business address zip
  • 44 1293 858 000 (company) — Business phone
  • 20240327 (date) — Filing date

FAQ

When did RENTOKIL INITIAL PLC /FI file this 20-F?

RENTOKIL INITIAL PLC /FI filed this Foreign Annual Report (20-F) with the SEC on March 27, 2024.

What is a 20-F filing?

A 20-F is a annual report for foreign private issuers, equivalent to a 10-K but following international reporting standards. This particular 20-F was filed by RENTOKIL INITIAL PLC /FI (RKLIF).

Where can I read the original 20-F filing from RENTOKIL INITIAL PLC /FI?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by RENTOKIL INITIAL PLC /FI.

What are the key takeaways from RENTOKIL INITIAL PLC /FI's 20-F?

RENTOKIL INITIAL PLC /FI filed this 20-F on March 27, 2024. Key takeaways: Rentokil Initial PLC filed its annual report on Form 20-F for the fiscal year ending December 31, 2023.. The filing covers financial performance and business operations for the period.. Key financial metrics and risk factors are detailed within the report..

Is RENTOKIL INITIAL PLC /FI a risky investment based on this filing?

Based on this 20-F, RENTOKIL INITIAL PLC /FI presents a moderate-risk profile. The company's operations are subject to various risks including interest rate fluctuations and currency exchange rate volatility, as indicated by specific risk management disclosures for USD, EUR, and GBP.

What should investors do after reading RENTOKIL INITIAL PLC /FI's 20-F?

Review the detailed financial statements and risk factor disclosures in the 20-F to assess Rentokil Initial PLC's performance and potential challenges. The overall sentiment from this filing is neutral.

Risk Factors

  • Interest Rate Risk [medium — financial]: The company is exposed to interest rate risk, particularly concerning its term loan due October 2025, with disclosures for USD, GBP, and EUR.
  • Currency Risk [medium — financial]: Rentokil Initial PLC faces currency risk, with specific disclosures for other currencies and USD, EUR, and GBP as of December 31, 2023.
  • Provision for Termite Damage Claims [low — operational]: The company manages provisions for termite damage, tracking customer churn rate, claim rate, and claim cost for 2023 and 2022.

Key Dates

  • 2023-12-31: Fiscal Year End — Reporting period for the 20-F filing.
  • 2024-03-27: Filing Date — Date the 20-F form was officially submitted to the SEC.

Glossary

Form 20-F
An annual report required for foreign private issuers with the U.S. Securities and Exchange Commission. (Provides comprehensive financial and operational information about the company.)

Filing Stats: 4,483 words · 18 min read · ~15 pages · Grade level 16.9 · Accepted 2024-03-27 06:05:59

Filing Documents

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents Pursuant to Rule 12b-23(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the information for the 2023 Form 20-F of Rentokil Initial plc (the "Company") set out below is being incorporated by reference from the Company's Annual Report 2023 included as exhibit 15.1 to this Form 20-F (the "Annual Report 2023"). Presentation of Financial and Other Information References below to major headings include all information under such major headings, including subheadings, unless such reference is a reference to a subheading, in which case such reference includes only the information contained under such subheading. To the extent that any information incorporated by reference into this Form 20-F itself incorporates information by reference (including by way of internal cross reference), such information shall not form part of this Form 20-F. All references in this Form 20-F to "us", "we" or "the Company" are to Rentokil Initial plc. Unless the context otherwise requires, "Rentokil Initial" or "Group" refers to the Company and its consolidated entities. Other information contained within the Annual Report 2023 included as exhibit 15.1 to this Form 20-F, including graphs and tabular data, is not included in this Form 20-F unless specifically identified below. Photographs are also not included. None of the websites referred to in the Annual Report 2023, including where a link is provided, nor any information contained on

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 4

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 4

KEY INFORMATION

ITEM 3. KEY INFORMATION 4

INFORMATION ON THE COMPANY

ITEM 4. INFORMATION ON THE COMPANY 17

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 24

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 24

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 26

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 32

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 33

THE OFFER AND LISTING

ITEM 9. THE OFFER AND LISTING 34

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 35

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 43

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 43 PART II

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 45

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 45

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES 45

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 47

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 47

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 47

EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 48

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 48

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 48

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 48

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 50

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 50

INSIDER TRADING POLICIES

ITEM 16J. INSIDER TRADING POLICIES 50

CYBER SECURITY

ITEM 16K. CYBER SECURITY 50 PART III

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 50

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 50

EXHIBITS

ITEM 19. EXHIBITS 51 SIGNATURE 53 3 Table of Contents PART I

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. Reserved Reserved. B. Capitalization and Indebtedness Not applicable. C. Reason for the Offer and Use of Proceeds Not applicable. D.

Risk Factors

Risk Factors You should carefully consider the factors described below, in addition to the other information set forth in this Form 20F. Providing route-based services carries various inherent risks and uncertainties that may affect our business. In this section, we describe the risks and uncertainties that we consider material to our business in that they may have a significant effect on our business, reputation, results of operations, financial condition and/or prospects. This Annual Report includes statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. We believe that the forward-looking statements about Rentokil Initial in this Form 20F, identified by words such as "believes", "anticipates", "could", "may", "would", "is likely to", "should", "intends", "seeks", "aims", "plans", "potential", "predicts", "will", "expects", "estimates", "projects", "positioned", "strategy", "outlook", and "target", are based on reasonable assumptions. However, forward-looking statements involve inherent risks and uncertainties such as those summarised below. They relate to events that may occur in the future, that may be influenced by factors beyond our control and that may have actual outcomes materially different from our expectations. Therefore, other risks, unknown or not currently considered material, could have a material adverse effect on our financial condition or results of operations. 4 Table of Contents Risks Relating to Business Strategies and Operations If we are unsuccessful in integrating acquisitions or if our disposals result in unexpected costs or liabilities, our business could be materially and adversely affected. We have a strategy that includes growth by acquisition to extend our geographic footprint and to improve our market share in existing locations. For example, we acquired 41

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