11 October 2022
Coats Group plc
Capital Markets Day
Introducing Coats Footwear
Coats Group plc ('Coats' or the 'Group'), the world's leading industrial thread and global footwear component manufacturer, is today hosting a Capital Markets Day.
The event, following the recent acquisitions of Texon and Rhenoflex, will introduce the new footwear division and will be held at the Rosewood Hotel, London, WC1V 7EN. It will commence at 1.30pm (BST).
As part of the event, the management team will set out further details on the footwear opportunity, its growth strategy and updated mid-term guidance which includes:
· Mid-term sales growth target for Footwear division of 7-8% p.a.
· Mid-term Footwear division EBIT margin target of >20%
Management will also provide updated mid-term guidance for the Group:
· Group mid-term growth target of 6% (up from 5%) p.a.
· 2024 goal of Group EBIT margins of circa 17%
Additionally, management will be reiterating key messages from the H1 results:
· Continuing to offset inflation through a combination of pricing actions and self-help
· End-market resilience and diversity supporting the return to normalised sales after a strong H1 performance
· Strategic projects momentum with $5m delivered in H1 and $15m expected for FY 2022 (original expectations $5 - 10m)
To register your in person attendance: https://www.coatscmd.com/register
The presentation and a recording of the event will be available on our corporate website later today.
Coats Group plc
+44 (0)20 8210 5090
Richard Mountain / Nick Hasell
+44 (0)20 3727 1374
About Coats Group plc
Coats is the world's leading industrial thread and global footwear component company. At home in some 50 countries, Coats has a workforce of over 17,000 people across six continents. Revenues in 2021 were US$1.5bn. Coats provides complementary and value-adding products, services and software solutions to the apparel and footwear industries. It also applies innovative techniques to develop high technology performance materials threads, yarns, fabrics and composites in areas like personal protection, telecoms, energy, transportation, and household and recreation. Headquartered in the UK, Coats is a constituent of the FTSE 250 and FTSE4Good Index Series. It is a participant in the UN Global Compact, a member of the Ellen MacArthur Foundation, has approved short term Science Based Targets to 2030 and is committed to developing a long-term target to reach net-zero emissions by 2050, the highest level of ambition on climate change under the Science Based Target initiative. The pioneering history and innovative culture of Coats enable the delivery of its purpose to connect talent, textiles and technology to make a better and more sustainable world. For further information go to www.coats.com .
Certain statements in this announcement and the materials to be presented at the Capital Markets Day are forward-looking. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.