REG - Coats Group PLC - Capital Markets Day

CoatsAnnouncement

11/10/2022 07:16

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RNS Number : 4094C  Coats Group PLC  11 October 2022

 
     11 October 2022

Coats Group plc

Capital Markets Day

Introducing Coats Footwear

 

 

Coats Group plc ('Coats' or the 'Group'), the world's leading industrial
thread and global footwear component manufacturer, is today hosting a Capital
Markets Day.

 

The event, following the recent acquisitions of Texon and Rhenoflex, will
introduce the new footwear division and will be held at the Rosewood Hotel,
London, WC1V 7EN. It will commence at 1.30pm (BST).

 

As part of the event, the management team will set out further details on the
footwear opportunity, its growth strategy and updated mid-term guidance which
includes:

 

·      Mid-term sales growth target for Footwear division of 7-8% p.a.

·      Mid-term Footwear division EBIT margin target of >20%

 

Management will also provide updated mid-term guidance for the Group:

 

·      Group mid-term growth target of 6% (up from 5%) p.a.

·      2024 goal of Group EBIT margins of circa 17%

 

Additionally, management will be reiterating key messages from the H1 results:

 

·      Continuing to offset inflation through a combination of pricing
actions and self-help

·      End-market resilience and diversity supporting the return to
normalised sales after a strong H1 performance

·      Strategic projects momentum with $5m delivered in H1 and $15m
expected for FY 2022 (original expectations $5 - 10m)

 

 

To register your in person attendance: https://www.coatscmd.com/register
(https://www.coatscmd.com/register)

 

The presentation and a recording of the event will be available on our
corporate website later today.

 

 

 

 

 Enquiry details

 Investors         Nick Kidd                       Coats Group plc  +44 (0)20 8210 5090
 Media             Richard Mountain / Nick Hasell  FTI Consulting   +44 (0)20 3727 1374

 

 

 

 

About Coats Group plc

Coats is the world's leading industrial thread and global footwear component
company. At home in some 50 countries, Coats has a workforce of over 17,000
people across six continents. Revenues in 2021 were US$1.5bn. Coats provides
complementary and value-adding products, services and software solutions to
the apparel and footwear industries. It also applies innovative techniques to
develop high technology performance materials threads, yarns, fabrics and
composites in areas like personal protection, telecoms, energy,
transportation, and household and recreation. Headquartered in the UK, Coats
is a constituent of the FTSE 250 and FTSE4Good Index Series. It is a
participant in the UN Global Compact, a member of the Ellen MacArthur
Foundation, has approved short term Science Based Targets to 2030 and is
committed to developing a long-term target to reach net-zero emissions by
2050, the highest level of ambition on climate change under the Science Based
Target initiative. The pioneering history and innovative culture of Coats
enable the delivery of its purpose to connect talent, textiles and technology
to make a better and more sustainable world. For further information go to
www.coats.com (http://www.coats.com) .

 

Cautionary statement

Certain statements in this announcement and the materials to be presented at
the Capital Markets Day are forward-looking. Although the Group believes that
the expectations reflected in these forward-looking statements are reasonable,
we can give no assurance that these expectations will prove to have been
correct. Because these statements contain risks and uncertainties, actual
results may differ materially from those expressed or implied by these
forward-looking statements. We undertake no obligation to update any
forward-looking statements, whether as a result of new information, future
events or otherwise.

 

 

 

 

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