Speedy Hire PLC Capital Markets Day (5628F)

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RNS Number : 5628F

Speedy Hire PLC

11 July 2023

Speedy Hire Plc

("Speedy", "the Company" or "the Group")

11 July 2023

Capital Markets Day

Speedy Hire, the UK and Ireland's leading provider of tools, specialist equipment and services, is today hosting a Capital Markets Day for investors and analysts at its Innovation Centre in Milton Keynes (the "CMD").

The day is intended to provide further details on Velocity, the Company's new five year transformation and growth strategy to support the Company's mission to be the most efficient and sustainable UK hire business: digital and data driven, optimised through operational excellence, and powered by our people.

The Group has set 5 year financial targets:

   --      Revenues of c.GBP650m 
   --      Increasing EBITDA margins to c.28% 
   --      Maintaining net debt to EBITDA in the range of 1.0-1.5x 

The Velocity strategy is driven by t he growth engines of core hire; specialist products and services; and trade and retail markets. Delivery of the strategy is supported by the strategic pillars of:

   --      People First: aiming to be a Top 100 employer; 
   --      ESG: making hire the first choice; 
   --      Digital: being easy to do business with; and 
   --      Modern workplace: AI driven technology to automate process and enhance performance 

Dan Evans, CEO commented:

"We are excited to share the details on Velocity, our five year transformation and growth strategy to support the Company's mission to be the most efficient and sustainable UK hire business. We look forward to hosting this at our Innovation Centre in Milton Keynes, which will also give us the opportunity to show our strategy in action. I am confident Velocity will support the delivery of our five year targets, driving long-term value for all of our stakeholders."

The Company will not give an update on current trading today.

A copy of the presentation will be made available on the Company's website later today.

Enquiries:

 
 Speedy Hire Plc                         Tel: [phone] 
 
  Dan Evans, Chief Executive 
  Paul Rayner, Chief Financial Officer 
 MHP                                     Tel: [phone] 
 
  Oliver Hughes 
  Charlie Barker 
 

Notes to Editors: Founded in 1977, Speedy is the UK's leading provider of tools and equipment hire services to a wide range of customers in the construction, infrastructure, industrial, and support services markets, as well as to local trade, and retail. The Group provides complementary support services through the provision of training, asset management and compliance services. Speedy is certified nationally to ISO50001, ISO9001, ISO14001, ISO17020, ISO27001 and ISO45001. The Group operates from c.180 fixed sites and selected B&Q stores across the UK and Ireland together with a number of on-site facilities at client locations and through a joint venture in Kazakhstan.

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July 11, 2023 02:00 ET (06:00 GMT)