Brief: Park Street Nordicom Updates On 2020 Strategy

Park Street A/S

31/01/2020 14:22

Jan 31 (Reuters) - Park Street Nordicom A/S  PSNRDCa.CO :
    * REG-PARK STREET NORDICOM STRATEGY UPDATE 2020
    * INTEND TO PROPOSE RECOMMENCING DIVIDEND   PAYMENTS IN VIEW
OF
THE STRONG BALANCE SHEET AND SUSTAINABLE PERFORMANCE
    * LONG TERM TARGET TO GENERATE ASSET LEVEL RETURN ON EQUITY
OF
OVER 15%, WITH COMPANY LEVEL RETURN OF EQUITY OF OVER 12%.
    * INTENDS TO INITIATE STEPS FOR BUY BACK OF SHARES IN
ACCORDANCE
TO PROVISIONS IN ARTICLES OF ASSOCIATION OF PARK STREET
NORDICOM, WHICH CORRESPONDS TO A MAXIMUM OF 10% OF THE COMPANY’S
CLASS A SHARE CAPITAL
    * TARGET: REDUCE OPERATING COSTS (55 MILLION DKK IN 2019) BY
5% AS
A CONSEQUENCE OF COST OPTIMIZATION WITH FOCUS ON OPTIMISING
ENERGY PERFORMANCE OF OUR PORTFOLIO
    * TARGETED DISPOSAL OF ASSETS POST CONCLUSION OF ASSET
MANAGEMENT
OPTIMIZATION OF NON CORE ASSETS WITH A VALUE BETWEEN 800 TO
1,000 MILLION DKK
    * EBIT TARGET: DKK 129.3 MILLION IN 2020; DKK 160.2 MILLION
IN
2021; DKK 200.3 MILLION IN 2022; DKK 261.1 MILLION IN 2023

Source text for Eikon:  ID:nGNE5wr4Gn 
Further company coverage:  PSNRDCa.CO 

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