Last checked at 8 May 2019 10:00
Origin Enterprises plc
Origin Enterprises plc hosts its 2019 Capital Markets Day
Sets out five-year ambition
8 May 2019
Origin Enterprises plc ("Origin" or the "Group"), the agri-services group, is hosting its 2019 Capital Markets Day ("CMD") today at the London Stock Exchange Building in London, UK. The CMD will run from 10:00 BST to 14:00 BST.
The CMD presentation is available on the Investor Relations section of the Origin Enterprises website from 10:00 today. http://www.originenterprises.com/investor-centre/
Over the course of the 2019 Capital Markets Day, the Group will outline its ambition and strategy to grow Group Operating Profit substantially by 2023. Origin will also outline a number of medium-term growth targets which the Group is committed to delivering over the next five years.
Medium term ambition
Given the strength of the Group's balance sheet, Origin is well positioned to capitalise on future growth opportunities and deliver long term sustainable returns to shareholders through a combination of organic growth and selective M&A.
The five-year ambition which will be outlined at the CMD is as follows:
Key performance indicator | Metric |
Five-year average organic Operating Profit growth (excluding JVs), constant currency, FY19 to FY23 | 3% to 4% |
Five-year average total Operating Profit growth (excluding JVs), constant currency, FY19 to FY23 | 5% to 9% |
Annual return on invested capital | 12% to 15% |
Annual free cash flow conversion ratio | 70% to 100% |
Dividends
Origin intends to resume a progressive dividend policy with a longer-term aim of reducing the payout ratio towards 35%.
ENDS
Enquiries
Origin Enterprises plc |
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Sean Coyle |
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Chief Financial Officer | Tel: | +353 (0)1 563 4959 |
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Brendan Corcoran |
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Head of Investor Relations and Group Planning |
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+353 (0)1 563 4900 |
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Goodbody (Euronext Growth (Dublin) Adviser) |
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Siobhan Wall | Tel: | +353 (0)1 641 6019 |
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Davy (Nominated Adviser) |
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Anthony Farrell | Tel: | +353 (0)1 614 9993 |
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Numis Securities (Stockbroker) |
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Stuart Skinner | Tel: | +44 (0)20 7260 1314 |
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Powerscourt (Financial PR Advisers) |
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Jack Hickey / Eavan Gannon (Ireland) | Tel: | +353 (0)83 448 8339 |
Rob Greening / Jana Tsiligiannis (UK) | Tel: | +44 (0)207 250 1446 |
About Origin Enterprises plc
Origin Enterprises plc is a focused Agri-Services group providing specialist on-farm agronomy services, digital agricultural services and the supply of crop technologies and inputs. The Group has leading market positions in Ireland, the United Kingdom, Belgium, Brazil, Poland, Romania and Ukraine. Origin is listed on the Euronext Growth (Dublin) and AIM markets of the Irish and London Stock Exchanges.
Euronext Growth (Dublin) ticker symbol: OIZ
AIM ticker symbol: OGN
Website: www.originenterprises.com