Investor Seminar

RNS Number : 5538C

Synthomer PLC

12 October 2022

 

12^th October 2022

Synthomer Plc
Investor Seminar

Synthomer plc ('Synthomer' or 'the Company') is today hosting an Investor Seminar to provide an update on its strategy and give greater insight into its recently acquired Adhesive Technologies division.

The event will set out the Company's plans to: Focus, Strengthen, and Grow:

-  Focus through portfolio rationalisation to reduce complexity, increased end market orientation, expanding the specialty solutions portfolio and disciplined capital allocation

-  Strengthen with investment in innovation leveraging sustainability, business excellence and returning leverage to target levels

-  Grow from being a larger scale, more focused and stronger business in attractive growth markets

In addition, Synthomer will set out the following medium term financial targets:

-  Constant currency growth: Mid-single-digit %

-  EBITDA margin: 15%+

-  ROIC: Mid-teens %

-  Innovation: 20% (New & patented product volumes launch in the prior 5 years)

The Group's key priority is to return leverage to within its target range of 1-2X and management will outline the initiatives to do that. The Company is in discussions with its banks to ensure that there is sufficient headroom for its covenants going forward. As part of the waiver process, the Board has suspended dividend payments until the end of 2023, including the payment that is due this November.

The event is being held at The Royal Society of Chemistry from 09.00 to 11.45 BST. There will be a webcast of the seminar starting at 09.00 BST with a replay available afterwards. To register for the webcast, visit 12th October - Synthomer Results (world-television.com) .  

For enquiries contact:

Investors:	Tim Hughes, Synthomer	+ 44 7764 859147
Press:	Charlie Armitstead, Teneo	[phone]

 

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