Compass Group PLC: Questions for Compass management ahead of Barclays European Leadership Conference

研报英文原文证据摘录

Compass Group PLC: Questions for Compass management ahead of Barclays European Leadership Conference

Equity Research

European Leisure

19 May 2026

Compass Group PLC

Questions for Compass

management ahead of Barclays

CPG.L/CPG LN OVERWEIGHTEuropean Leadership Conference

European Leisure NEUTRAL

We will be hosting Compass' Head of Strategic Price Target USD 42.00

Communications and Investor Relations at our European Price (18-May-26) USD 32.73

Leadership Conference on Thursday 21st May in London. We PotentialSource: Bloomberg,Upside/DownsideBarclays Research +28.3%

provide our latest pack of questions for management with

European Leisurekey topics including AI, net new outlook, competition risk and

macro/inflation. Pravin+44 (0)20Gondhale3134 5524

pravin.gondhale@barclays.com

Barclays, UK

Jaina Mistry, CFA

+44 (0)20 7773 3321

jaina.mistry1@barclays.com

Ivy Gu

+44 (0)20 3555 0139

ivy.gu@barclays.com

Karan Khona

+91 (0)22 6175 1634

karan.khona@barclays.com

•• 2026 OSG guide Barclays, UK

°° H1 net new growth came in at the lower end of 4-5% med-term guidance, due to delay in

starts, slower ramp-ups and adverse weather. What underpins your confidence in net new

growth acceleration in H2, and how meaningful could that acceleration be?

°° Why did adverse weather affect net new growth more than Q2 LFL volumes? In addition, Q2

volumes appear to have accelerated vs. Q1 on an underlying basis. Could you explain the

main drivers of that strength and volume growth outlook for H2 and beyond?

°° Retention – H1 retention of 96% was touch below the 96.3% reported at the FY results.

Could you talk through the main drivers of that decline, and how confident are you in

keeping retention above 96% in H2?

Barclays Capital Inc.