Brief: Synsam Reiterates Financial Targets, Implements Cost Efficiency Program

Synsam AB (publ)

20/01/2023 08:55

Jan 20 (Reuters) - Synsam AB (publ)  SYNSAM.ST :
    * SYNSAM GROUP REITERATES ITS FINANCIAL TARGETS AND INVESTS
IN
INNOVATION AND INCREASED EFFICIENCY
    * COST EFFICIENCY PROGRAM IS BEING IMPLEMENTED, WHICH IS
EXPECTED
TO REDUCE OPERATIONAL COST BASE BY SEK 102 MILLION IN 2023 AND
BY SEK 129 MILLION IN 2024, COMPARED WITH 2022
    * PART OF THIS PROGRAM INCLUDES REDUCED NEED FOR OPTICIAN
CONSULTANTS
    * COST OF PROGRAM, WHICH WILL AFFECT RESULT FOR Q4 OF 2022,
IS
EXPECTED TO AMOUNT TO SEK 34 MILLION
    * COST REDUCTION IS EXPECTED TO HAVE A POSITIVE IMPACT ON
EBITDA
RESULT FOR EACH YEAR
    * Q4: 16 STORES WERE OPENED
    * HAS A TARGET OF ESTABLISHING A TOTAL OF 90 NEW STORES FROM
2024
TO 2026
    * TARGETS ANNUAL ORGANIC GROWTH OF 8-12% IN MEDIUM TERM,
DEPENDING
ON PACE OF GREENFIELD EXPANSION
    * TARGETS AN ANNUAL ADJUSTED EBITDA MARGIN OF 25% OR MORE IN
MEDIUM TERM, DEPENDING ON PACE OF GREENFIELD EXPANSION
    * AIMS TO PAY DIVIDENDS OF 40%-60% OF NET PROFIT FOR YEAR

Source text for Eikon:  ID:nWkr7dGGRX 
Further company coverage:  SYNSAM.ST 
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