REG - Marshalls PLC - Capital Markets Event

MarshallsAnnouncement

19/11/2024 07:00

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RNS Number : 6941M  Marshalls PLC  19 November 2024

19 November 2024

 

 

('Marshalls' or 'the Group')

 

CAPITAL MARKETS EVENT

 

NEW STRATEGY - "TRANSFORM AND GROW" - SET TO DELIVER

MARKET OUTPERFORMANCE OVER THE MEDIUM-TERM

 

 

Marshalls, a leading manufacturer of sustainable solutions for the built
environment, is today hosting a Capital Markets Event.

 

The management team, led by Matt Pullen, Chief Executive, Justin Lockwood,
Chief Financial Officer, and Simon Bourne, Chief Commercial Officer, will set
out a new strategic focus along with medium-term financial targets centred on
market outperformance.

 

Transform and Grow

 

With customers firmly at the centre of its refreshed strategy, Transform and
Grow will position the Group's portfolio of businesses towards customers who
value its unique set of capabilities: leading brands; best-in-class technical
and design support; and reputation for carbon leadership.

 

The Group's strategy is, in turn, guided by a new purpose and vision for the
business.

 

Building Tomorrow's World reflects the major drivers which will shape the
built environment over the years ahead and which Marshalls is strongly
positioned to leverage:

 

 ·             Long-term growth drivers associated with climate change
               o                             Green urbanisation
               o                             Low Carbon solutions
               o                             Water management and drainage

 ·             Nearer term structural and regulatory headwinds
               o                             Investment in UK housing stock
               o                             Regulation driving energy transition

 

Alongside the new Group strategy, each of the Group's business units: the
brand powerhouses of Marshalls Landscaping and Marley Roofing; and growth
engines of Viridian Solar, Marshalls Water Management and Marshalls Bricks
& Masonry, will outline dedicated strategies to deliver market
outperformance and sustainable profitable growth.

 

Medium-term financial targets

 

The new strategic focus is expected to deliver over the medium term a
high-performing business capable of outperforming the wider construction
market by between two and four per cent and delivering an operating margin of
15 per cent.

 

The Group will maintain a disciplined capital allocation policy focused on
optimising long-term shareholder value. The strategy is capital-lite with
annual capital expenditure of between £20 million and £30 million and a
targeted return on capital employed of 15 per cent.

 

A strong balance sheet will also be a key priority, with a pre-IFRS net debt
target range of between 0.5 time and 1.5 times EBITDA.

 

Matt Pullen, Chief Executive, commented:

"We are excited today to unveil Marshalls' refreshed strategic focus which
will deliver a business capable of sustained market outperformance. It is a
strategy that builds on the unique set of capabilities that our customers
value: our leading brands; best in class technical design and support; and
carbon leadership. Our growth will also benefit from the cyclical recovery and
near-term structural and regulatory drivers in our end markets.

 

"Our Transform and Grow strategy has clear potential to drive significant and
sustainable long-term shareholder value. This is an exciting time for
Marshalls, and we are looking forward to sharing our vision and ambition for
the future."

 

 

A live webcast of the presentation including Q&A will be held today at
2:00 pm for investors and analysts and will be available via our website at
https://www.marshalls.co.uk/ (https://www.marshalls.co.uk/) or on
https://brrmedia.news/MSLH_CMD_24 (https://brrmedia.news/MSLH_CMD_24) .

 

This will be available for playback after the event.

 

 

Enquiries:

 

 Marshalls plc
 Matt Pullen, Chief Executive               +44 1422 314777

 Justin Lockwood, Chief Financial Officer

 Simon Bourne, Chief Commercial Officer

 Hudson Sandler (Financial PR)
 Mark Garraway                              +44 20 7796 4133

 Harry Griffiths                            marshalls@hudsonsandler.com (mailto:marshalls@hudsonsandler.com)

 

Notes to editors:

 

About Marshalls plc:

 

Established in the late 1880s, Marshalls plc is a leading UK manufacturer of
sustainable solutions for the built environment. It operates through three
trading divisions: Landscape Products; Roofing Products; and Building
Products. At a Group, divisional and brand level, Marshalls' strategy centres
around its customers who value its unique set of capabilities, namely leading
brands, best in class technical and design support and carbon leadership. This
is underpinned by business wide enterprise excellence, leadership in ESG
governance and standards and its people, organisation, and culture.

 

The Group operates a national network of manufacturing and distribution sites.
Marshalls is committed to quality in everything it does, including the
achievement of high environmental and ethical standards and continual
improvement in health and safety performance. Its strategic goal is to become
the UK's leading manufacturer of products for the built environment.

 

Forward-Looking Statements:

 

Any statements in this release, to the extent that they are forward-looking,
are subject to risk factors associated with, amongst other things, the
economic and business circumstances occurring from time to time in the markets
in which Marshalls operates. It is believed that the expectations reflected in
these statements are reasonable, but they may be affected by a wide range of
variables, which could cause actual results to differ materially from those
currently anticipated. More information about the factors that may affect
Marshalls' performance is contained in the Annual Report to shareholders for
the year ended 31 December 2023.

 

 

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