Brief: Purmo Group Announces Strategy Acceleration Programme

Purmo Oyj

05/10/2022 12:31

Oct 5 (Reuters) - Purmo Group Oyj  PURMO.HE :
    * ANNOUNCES A STRATEGY ACCELERATION PROGRAMME AND A NEW
ORGANISATIONAL STRUCTURE TO SUPPORT REACHING ITS FINANCIAL
TARGETS
    * PROGRAMME ADDRESSES A BROAD AREA OF STRATEGIC AND
OPERATIONAL
INITIATIVES
    * TARGETS ORGANIC NET SALES GROWTH IN EXCESS OF MARKET
GROWTH
    * IN ADDITION, PURMO GROUP AIMS FOR NOTABLE INORGANIC GROWTH
THROUGH ACQUISITIONS.
    * LEVERAGE RATIO IS TARGETED NOT TO EXCEED 3.0X, MEASURED AS
INTEREST BEARING NET DEBT / ADJUSTED EBITDA ON A ROLLING
TWELVE-MONTH BASIS
    * TARGETS AN ADJUSTED EBITDA MARGIN ABOVE 15% IN MEDIUM- TO
LONG-TERM
    * NEW ORGANISATION IS BASED ON TWO BUSINESS DIVISIONS:
CLIMATE
PRODUCTS & SYSTEMS AND CLIMATE SOLUTIONS.
    * TARGETS ADJUSTED EBITDA RUN-RATE IMPROVEMENTS OF EUR 15
MILLION
BY END OF 2023 AND CUMULATIVELY EUR 35 MILLION BY END OF 2024
    * COSTS FOR PROGRAMME ARE EXPECTED TO BE APPROXIMATELY EUR
40
MILLION, OF WHICH EUR 30 MILLION IS EXPECTED TO INCUR BEFORE END
OF 2023 AND REMAINDER IN 2024
    * NEW ORGANISATIONAL STRUCTURE EFFECTIVE FROM 1 JANUARY 2023

Source text for Eikon:  ID:nMFN5KSlVH 
Further company coverage:  PURMO.HE 
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