Meggitt PLC 2019 Capital Markets Day (0276Z)

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RNS Number : 0276Z

Meggitt PLC

15 May 2019

15 May 2019

Meggitt PLC

2019 Capital Markets Day

Roadmap to 2021

Meggitt PLC ("Meggitt" or "the Group"), a leading international engineering company specialising in high performance components and sub-systems for the aerospace, defence and energy markets, is today hosting a capital markets day for investors and analysts in London.

The presentation will include an update on progress in strategy execution including an overview of:

-- How we have developed our strategy to capitalise on the opportunities presented by anticipated changes in our end-markets;

-- Our approach to sustaining competitive advantage over the long term through the development of innovative technology;

-- Our operations strategy, including progress in executing the Meggitt Production System and footprint rationalisation;

   --     Progress in consolidating our supply chain to reduce purchased costs; and 

-- How our new customer-aligned organisation is enabling our Airframe Systems division to position for future growth.

The presentation reaffirms our guidance for margin and cash improvement by 2021 and provides further detail on the expected progress on financial improvement through to the end of this period.

Tony Wood, Chief Executive Officer, said:

"Meggitt is a business with excellent potential. Our growing installed base of over 71,000 aircraft, equipped with Meggitt designed products and technology means we are well positioned to sustain growth over the medium term.

Good progress in strategy execution underpins our confidence in delivering our 2021 targets for margin and cash improvement and creates further opportunities to enhance shareholder returns over the long term."

The presentation will commence at 9am this morning and will be webcast live at https://www.investis-live.com/meggit/5cb5f7c4aac05f150048e7ed/mcmd

Contacts:

Louisa Burdett, Chief Financial Officer

Adrian Bunn, Vice President, Strategy & Investor Relations

Meggitt PLC

   Tel:     [phone] 

Deborah Scott, Senior Managing Director

Nick Hasell, Managing Director

FTI Consulting

   Tel:     [phone] 

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May 15, 2019 02:00 ET (06:00 GMT)