REG - TT Electronics PLC - Capital Markets Event

TT electronicsAnnouncement

09/04/2024 07:00

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RNS Number : 7430J  TT Electronics PLC  09 April 2024

 

 

9 April 2024

 

TT Electronics plc

 

CAPITAL MARKETS EVENT

 

New medium term financial goals and reporting structure

 

TT Electronics plc ("TT", "the Group"), a global engineer and manufacturer of
electronic solutions for critical applications is today hosting a Capital
Markets Event. The event will provide insights on our improvement plans to
unlock value through a focus on Efficiency, Growth and Innovation.

 

A laser focus on execution, supported by a move from our current divisional
structure to a function-led regional structure will leverage our strong
engineering and manufacturing capabilities to unlock value and improve
returns. This focus will drive enhanced performance and today we are setting
new medium-term financial targets including:

 

·    Revenue growth ahead of end market growth of 4-6%

·    12% adjusted operating margin in 2026

·    Strong cash conversion of 85%+

·    ROIC target of mid to high-teens

 

In addition, we are bringing forward by 5 years our plan to achieve Net Zero
on our Scope 1&2 emissions, from 2035 to 2030.

 

No new information on current year trading will be shared at the event.
Conditions in our markets and the 2024 guidance provided with our FY23 results
on 7 March remain unchanged.

 

 

Peter France, Chief Executive Officer, commented:

 

"I am excited to share our plans for the next stage of TT's evolution, to
create long term sustainable value for all our stakeholders. We have
identified numerous opportunities for commercial and operational improvement
and have a clear strategy to drive enhanced performance and improved returns."

 

 

Event Information

 

The event will be hosted by Peter France, Group Chief Executive Officer and
Mark Hoad, Group Chief Financial Officer, who will be joined by senior leaders
from across the Group. The event will be held at Deutsche Numis in London with
an in-person Q&A session and product exhibition. For those unable to
attend in person, the event will be broadcast live at 2:00pm today.

 

To access the presentation, please register in advance using the following
webcast link: https://stream.brrmedia.co.uk/broadcast/65f1e02a3fde7fad508dedd7
(https://urldefense.com/v3/__https:/stream.brrmedia.co.uk/broadcast/65f1e02a3fde7fad508dedd7__;!!If2bhcaqBFXF!1JWdVeqtTngqgKfy7j8WeHfdchL5N3lwBSzzZcATXbUKl9NKicGALhEIoGU7ysFwlT90Dcfy5pGFDiTWKDT1nho$)

 

A recording of the presentation and copy of the presentations will be
available following the event on the Group's website at
www.ttelectronics.com/investors

 

If you would like to attend in person, please email
melanie.evans@ttelectronics.com (mailto:melanie.evans@ttelectronics.com)

 

 For further information please contact:

 TT Electronics plc                        Tel: +44 (0)1932 827 779
 Peter France, Chief Executive Officer

 Mark Hoad, Chief Financial Officer

 Kate Moy, Head of Investor Relations and Communications

 MHP                                       Tel: +44 (0)20 3128 8100
 Tim Rowntree / Ollie Hoare
 ()

 

About TT Electronics

TT Electronics is a global provider of engineered electronics for performance
critical applications.

The company operates in industries where there are structural growth drivers,
working with market-leading customers primarily in the industrial, medical,
aerospace and defence sectors. Products designed and manufactured include
sensors, power management devices and connectivity solutions. TT has design
and manufacturing facilities in the UK, North America and Asia.

The company has three divisions. The Power and Connectivity division designs
and manufactures power application products and connectivity devices which
enable the capture and wireless transfer of data. We collaborate with our
customers to develop innovative solutions to optimise their electronic
systems. The Global Manufacturing Solutions division provides manufacturing
services and engineering solutions for our product divisions and to customers
that often require a lower volume and higher mix of different products. We
manufacture complex integrated product assemblies for our customers and
provide engineering services including designing testing solutions and
value-engineering. The Sensors and Specialist Components division works with
customers to develop standard and customised solutions including sensors and
power management devices. Our solutions improve the precision, speed and
reliability of critical aspects of our customers' applications.

 

Cautionary statement

This update contains forward-looking statements. These have been made by the
directors in good faith based on the information available to them up to the
time of their approval of this update. The directors can give no assurance
that these expectations will prove to have been correct. Due to the inherent
uncertainties, including both economic and business risk factors underlying
such forward-looking information, actual results may differ materially from
those expressed or implied by these forward-looking statements. The directors
undertake no obligation to update any forward-looking statements whether as a
result of new information, future events or otherwise.

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