Brief: Embracer To Spin Off Asmodee To Shareholders By End-March, Presents Unit Targets

Embracer AB

19/11/2024 06:15

Nov 19 (Reuters) - Embracer Group AB  EMBRACb.ST :
    * TO CONTRIBUTE EUR 400M TO ASMODEE AND PRESENTS ASMODEE'S FINANCIAL TARGETS, DIVIDEND
POLICY AND
NET FINANCIAL DEBT
    * PROCEEDS FROM EQUITY INVESTMENT ARE INTENDED TO MAINLY BE USED TO REPAY GROSS DEBT
    * ASMODEE FINANCIAL TARGETS: GROWTH: ON AVERAGE MID-SINGLE DIGIT ANNUAL ORGANIC GROWTH OVER
MEDIUM
TERM, FURTHER ENHANCED BY M&A
    * ASMODEE DIVIDEND POLICY: DISTRIBUTION OF EXCESS LIQUIDITY TO SHAREHOLDERS AFTER REACHING
LONG
TERM TARGET NET LEVERAGE RATIO BELOW 2.0X ADJUSTED EBITDA
    * DISTRIBUTION OF ASMODEE IS EXPECTED TO BE COMPLETED DURING Q1 OF 2025 ENDING MARCH
    * ASMODEE: FINANCIAL TARGETS PROFITABILITY: ACHIEVE AN ADJUSTED EBITDA MARGIN IN EXCESS OF
18
PERCENT IN MEDIUM TERM
    * ASMODEE FINANCIAL TARGETS: TARGET LEVERAGE RATIO ON NET DEBT BELOW 3.0X ADJUSTED EBITDA IN
MEDIUM TERM AND BELOW 2.0X ADJUSTED EBITDA IN LONG TERM
    * ASMODEE TO REFINANCE ITS EUR 900 MILLION BANK BRIDGE VIA DEBT CAPITAL MARKETS TRANSACTION

Source text:  ID:nMFN1Mbk1Y 
Further company coverage:  EMBRACb.ST 

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