Brief: Vista Group International Says Commenced An Organisational Transformation

Vista International

05/07/2023 21:37

July 6 (Reuters) - Vista Group International Ltd
 VGL.NZ :
    * COMMENCED AN ORGANISATIONAL TRANSFORMATION TO SUPPORT ITS
VISION
AND STRATEGY
    * TRANSFORMATION WILL BRING TOGETHER VISTA GROUP'S BUSINESS
BRANDS
UNDER A UNIFIED BUSINESS MODEL
    * EXPECTS TO BE FREE CASHFLOW POSITIVE DURING Q4 OF 2024
    * TOTAL CAPITAL EXPENDITURE IS NOW EXPECTED TO BE NZ$20M PER
YEAR
ONGOING
    * STREAMLINING OF OPERATIONS EXPECTED TO RESULT IN REDUCTION
IN
GLOBAL WORKFORCE OF BETWEEN 6-8%
    * REDUCTION EXPECTED TO BE COMPLETED BY END OF 2023
    * REMAINS ON TARGET TO ACHIEVE ITS ASPIRATIONS OF ARR
BETWEEN
NZ$175M-NZ$205M BY END OF 2025
    * BUSINESS TRANSFORMATION EXPECTED TO IMPROVE SHAREHOLDER
RETURNS,
DELIVERING IMPROVED OPERATING CASH FLOW AND PROFITABILITY
    * REMAINS ON TARGET TO ACHIEVE ITS ASPIRATIONS OF EBITDA OF
15+%
BY END OF 2025

Source text for Eikon:  ID: 
Further company coverage:  VGL.NZ 

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