Our purpose is to deliver essential business solutions around the world and create long term sustainable value for the benefit of all our stakeholders.

A strong performance, reaching a significant dividend milestone

'Our people have been instrumental to our success, with our teams working hard to pass through price increases, while also successfully managing supply chain disruption so that our customers can continue to rely on us.'

Read the CEO statement in full

Strong financial performance and strategic progress

  • Very strong financial performance with revenue growth of 9.8% at constant exchange rates, driven by product cost inflation, volume recovery in the first half and growth from acquisitions; Adjusted operating profit growth of 11.1% with year-on-year margin growth
  • Successful management of inflation and supply chain disruption reflected in results
  • 30th consecutive year of annual dividend growth (10% CAGR ’92-22)
  • 12 acquisitions agreed over 2022, with a total committed spend of £322 million
  • Net debt to EBITDA of 1.2 times provides substantial headroom for further acquisitions
  • Increased the percentage of orders processed digitally to 69%, further improving efficiency and our ability to retain customers
  • Received SBTi approval of our emissions reduction targets, and increased our alternative packaging penetration

Financial performance: Highlights


(2021: £10,285.1m)


Growth at constant exchange rates (Actual exchange rates 17.1%)

Adjusted operating profit*

(2021: £752.8m)


Growth at constant exchange rates (Actual exchange rates 17.7%)

Adjusted earnings per share*

(2021: 162.5p)


Growth at constant exchange rates (Actual exchange rates 13.4%)

Dividend per share

(2021: 57.0p)


* Alternative performance measure (see Note 3 to the consolidated financial statements in the 2022 Annual Report)


adjusted earnings per share CAGR since 2004


dividends paid to shareholders since 2004


committed spend in acquisitions to support a growth strategy

Sustainability performance: Highlights



SBTi approval of our Scope 1, 2 and 3 emissions reduction targets

Wind turbine


more carbon efficient since 2019 with a 15% reduction in absolute emissions

Recycle bag


of Group revenue is attributable to non-packaging products or packaging products made from alternative materials that are well suited to a circular economy



21% women in senior leadership roles compared to 19% in 2021

data document


930 ethical audits completed 

Only 2% of Group revenue generated from consumables that are facing regulation


Only 2% of Group revenue generated from consumables that are facing regulation

Trusted, reliable delivery

Trusted Delivery Bunzl

Trusted to deliver

A strong supply chain enabled Bunzl to navigate 2022’s supply chain challenges. We have a strong global supply chain, consisting of flexible sourcing relationships, with limited supplier concentration, enabling Bunzl to support customers even during challenging times.

  • >10,000 suppliers
  • c.96% of Bunzl’s total purchasing spend is either in low-risk regions, with assessed or compliant suppliers in high-risk regions, or on other non-product related costs
Trusted Partners Bunzl

Trusted partnerships

Sprouts is a fast-growing grocery chain with c.370 stores across the USA. Bunzl recently won the contract to become the single distributor for all goods-not-for-resale across its stores.  This business win was strongly supported by Bunzl’s sustainability expertise and capabilities.

What this business win was driven by:

  • Our ability to support a fast-growing grocer
  • The strength of our national infrastructure
  • Our capabilities to support Sprouts with its sustainability ambitions
  • Our data and analytical insights
Trusted Expertise Bunzl

Trusted expertise

We are uniquely positioned to help our customers transition to a more circular economy. Our customers rely on our advice and expertise, particularly in cases where they are operating across multiple jurisdictions and face a complex patchwork of plastic legislation.

Case study for one customer in Australia, Foodby Australia (part of Compass Group):

  • c.9.5m product units replaced by alternative products over 12 months
  • c.30 tonnes of plastic removed


Trusted Performance Bunzl

Trusted to perform

Our financial strength also allows us to make investments to support our customers through challenging times, as well as into strategic initiatives.

Resilience is embedded at every level of Bunzl’s operations, with our decentralised nature empowering individual businesses and driving Bunzl’s agility.

  • c.75% of our revenue is generated in the more resilient cleaning & hygiene, grocery, foodservice and healthcare sectors
  • Strong track record of growing revenue and adjusted operating profit, delivering 9% to 10% CAGR in both measures since 2004 200
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Go digital-first

Bunzl are actively trying to reduce our impact on the environment and maximise shareholder value by reducing the number copies of our annual report we print and mail. If you’d like to switch to receiving digital copies of our reports and communications each year please register below or contact your registrar.