Greencore Group PLC Capital Markets Day and Pre-Close Statement (7021N)
26 9월 2019 - 3:01PM
UK Regulatory
TIDMGNC
RNS Number : 7021N
Greencore Group PLC
26 September 2019
26 September 2019
Greencore Group plc
Capital Markets Day and Pre-Close Statement
Greencore Group plc ('Greencore' or the 'Group'), a leading
manufacturer of convenience food in the UK, today hosts a Capital
Markets Day in London and issues a pre-close statement for the year
ending 27 September 2019.
Capital Markets Day
Greencore is today holding a Capital Markets Day in London for
institutional investors and analysts. The event will be hosted by
CEO Patrick Coveney and other members of the senior management
team.
A series of presentations will illustrate Greencore's strategy,
capabilities and economic model, and will outline the Group's
investment case. In addition, the Group will introduce the
following medium term financial ambitions:
-- Mid single-digit organic revenue growth;
-- High single-digit Adjusted EPS growth;
-- Convert half of its Adjusted EBITDA to Free Cash Flow;
-- Mid-teen ROIC.
A brief update will also be provided regarding the adoption of
IFRS16 Leases for the financial year ending 25 September 2020.
The presentations will be available on the Group's website
(https://www.greencore.com/investor-relations/results-centre/) at
8.30am today. An audio recording of the presentations will also be
available in the near term.
Pre-Close Statement
For the full year the Group anticipates Adjusted EPS will be in
line with market expectations of approximately 16.0p(1) . Pro forma
revenue growth improved throughout Q4, despite subdued trading
conditions in the early part of the quarter and a strong
comparative period year on year. In addition, the Group anticipates
that FY19 Net Debt:EBITDA, as measured under financing agreements
and following the recent acquisition of Freshtime, will be towards
the upper end of its medium term target range of between 1.5x to
2.0x.
For further information, please contact:
Patrick Coveney Chief Executive Officer Tel: +353 (0) 1 486
3313
Eoin Tonge Chief Financial Officer Tel: +353 (0) 1 486
3316
Jack Gorman Head of Investor Relations Tel: +353 (0) 1 486
3308
Rob Greening or Powerscourt Tel: +44 (0) 20 7250
Sam Austrums 1446
Billy Murphy or Drury | Porter Novelli Tel: +353 (0) 1 260
Louise Walsh 5000
(1) Adjusted EPS consensus of 16.0p. Further details can be
found at www.greencore.com/investor-relations/analyst-centre/
About Greencore
Greencore is a leading manufacturer of convenience food in the
UK. It supplies grocery and other retailers including all of the
major UK supermarkets. The Group has strong market positions in a
range of categories including sandwiches, sushi, salads, chilled
ready meals, chilled soups and sauces, chilled quiche, ambient
sauces and pickles, and frozen Yorkshire Puddings.
On an annual basis, Greencore manufactures approximately 706
million sandwiches and other food to go products, 144 million
chilled prepared meals, and 226 million bottles of cooking sauces,
pickles and condiments. The Group carries out around 7,500
deliveries to stores each day.
Greencore has 16 world-class manufacturing sites in the UK, with
industry-leading technology and supply chain capabilities. The
Group employs approximately 11,800 people and is headquartered in
Dublin, Ireland.
For further information go to www.greencore.com or follow
Greencore on social media.
Financial information relating to Greencore Group plc in this
announcement are not statutory financial statements within the
meaning of Section 340 of the Companies Act 2014 of Ireland and
have been published for the purposes of updating investors on
financial performance for the periods referenced in this
announcement. The statutory financial statements for the year ended
27 September 2019 have not been prepared or reported on by the
statutory auditors, and are expected to be delivered to the
Registrar of Companies of Ireland within 28 days of 16 February
2020.
Certain statements made in this announcement are
forward--looking. These represent expectations for the Group's
business, and involve known and unknown risks and uncertainties,
many of which are beyond the Group's control. The Group has based
these forward--looking statements on current expectations and
projections about future events. These forward-looking statements
may generally, but not always, be identified by the use of words
such as "will", "aims", "anticipates", "continue", "could",
"should", "expects", "is expected to", "may", "estimates",
"believes", "intends", "projects", "targets", or the negative
thereof, or similar expressions.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future and reflect
the Group's current expectations and assumptions as to such future
events and circumstances that may not prove accurate. A number of
material factors could cause actual results and developments to
differ materially from those expressed or implied by
forward-looking statements. You should not place undue reliance on
any forward-looking statements. These forward-looking statements
are made as of the date of this announcement. The Group expressly
disclaims any obligation to publicly update or review these
forward-looking statements other than as required by law.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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