Brief: Landis+Gyr Posts Mid-Term 2023 Financial Targets

Landis+Gyr AG

27/01/2021 06:07

Jan 27 (Reuters) - LANDIS+GYR GROUP AG  LANDI.S :
    * CAPITAL MARKETS DAY 2021 AND ACQUISITION OF RHEBO
    * MID-TERM FY 2023 FINANCIAL TARGETS ARE PUBLISHED; DIVIDEND
POLICY IS REVISED
    * FY 2020 GUIDANCE REMAINS UNCHANGED; A LEGACY GOODWILL
IMPAIRMENT
OF APPROX. USD 400 MILLION WILL BE RECOGNIZED IN H2 FY 2020
    * MID-TERM FINANCIAL GUIDANCE FOR FY 2023: ORGANIC REVENUE
GROWTH
OF LOW SINGLE DIGIT CAGR IN LINE WITH CORE MARKET GROWTH
(RELATIVE TO FY 2019); INORGANIC REVENUES TO COME ON TOP
    * MID-TERM FINANCIAL GUIDANCE FOR FY 2023: ADJUSTED EBITDA
MARGIN
BETWEEN 12.0% AND 13.0% OF NET REVENUES
    * MID-TERM (FY 2023): ANNUAL FREE CASH FLOW (EXCLUDING
M&A) OF
AROUND USD 120 MILLION
    * REVISING ITS DIVIDEND POLICY, WHICH WILL BE TO PAY A
PROGRESSIVE
DIVIDEND BASED ON FY 2019 AMOUNT OF CHF 2.00 PER SHARE
    * IN NEAR-TERM, RHEBO IS NOT EXPECTED TO HAVE A MATERIAL
IMPACT ON
LANDIS+GYR'S FINANCIAL RESULTS

Source text - https://bit.ly/3cb4sJ3
Further company coverage:  LANDI.S 

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