Page 8 - Wythenshawe 2020 Corporate Plan

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Corporate Plan Governance and links to the Business Plan
This is a rolling Plan that will be updated by the Executive Team every three months. There will be regular reporting to the Board (or its Committees) on progress to deliver planned outcomes and consider any material changes to the scope, timing or impact of Plan actions.
Actions in this Plan are additional to our BAU (Business As Usual) service delivery.
The Group’s Business Plan (the 30 Year Long Term Financial Forecast) has been revised to reflect our initial assumptions about the impact of the pandemic on our service delivery and financial position. Years 1 and 2 of the Business Plan provide the financial envelope for resourcing the actions in this Corporate Plan.
Over the Corporate Plan period, and based on the revised Business Plan assumptions, we have a healthy financial performance as measured against the key metrics of EBITDA, liquidity and gearing.
Any adverse movements against our assumptions can be mitigated as we have considerable control over asset investment expenditure in the medium term. The Group’s ability to withstand unforeseen impacts from the pandemic is also mitigated through having a strong cash balance supported by
the Board’s policy to maintain a larger cash reserve.
Relatively low debt levels enable a strong EBITDA to be achieved despite relatively low operating margins in the short term. The Plan includes efficiency targets and supporting actions to improve margins over the medium term.
The Business Plan will be reviewed in September 2020 and the underlying assumptions revised to reflect actual experience of our performance at that time and our revised view of likely future impacts. The Plan review at that time will reflect the impact of Business Plan changes.
8 Wythenshawe 2020-2022 Corporate Plan