Brief: ESI Group Reduces Revenue Growth Plan For 2022 By 2%

ESI SA

27/09/2022 06:55

Sept 27 (Reuters) - ESI Group SA  ESIG.PA :
    * MAINTAINS ITS LONG-TERM OBJECTIVES FOR HIGH SINGLE-DIGIT
GROWTH
AND 20% ADJUSTED EBIT BY 2024/2025
    * GROUP ALSO ANNOUNCES IMPLEMENTATION OF A SHARE BUYBACK
PROGRAM
    * HAS MADE FASTER THAN EXPECTED PROGRESS ON STRATEGIC FOCUS
INCLUDING SEVERAL DIVESTITURES, AND CONSEQUENTLY REVISES
SHORT-TERM TARGETS
    * REAFFIRMS ITS COMMITMENT TO IMPROVING GROWTH AND
PROFITABILITY
YEAR AFTER YEAR AND CONTINUES TO TARGET HIGH SINGLE-DIGIT GROWTH
AND 20% PROFITABILITY WITHIN 2 TO 3 YEARS
    * CONTINUES TO AIM FOR HIGH SINGLE-DIGIT GROWTH AND 20%
ADJUSTED
EBIT BY 2024/2025
    * MANDATE TO AN ISP TO ACQUIRE ON ITS BEHALF MAX VOLUME OF
30,000
ESI SHARES OVER PERIOD FROM SEPT 28 AND POSSIBLY LASTING UNTIL
MARCH 31 2023
    * PROFORMA AND AT CURRENT RATE REVENUE GROWTH PLAN FOR 2022
REDUCED BY 2%
    * PROFORMA GUIDELINES REVENUE 2022 AT CURRENT RATE: 2%-4%
    * PROFORMA GUIDELINES ADJUSTED EBIT 2022 AT CURRENT RATE:
9%-11%
    * PROFORMA GOAL REVENUE 2023: 5-7%
    * PROFORMA GOAL REVENUE 2024: 6-9%
    * PROFORMA GOAL REVENUE 2025: 7-10%
    * PROFORMA GOAL ADJUSTED. EBIT 2023: 13-15%
    * PROFORMA GOAL ADJUSTED. EBIT 2024: 17-20%
    * PROFORMA GOAL ADJUSTED. EBIT 2025: >20%

Source text for Eikon:  ID:nBw30HVWXa 
Further company coverage:  ESIG.PA 
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