Origin Enterprises Plc Capital Markets Day (3375Y)

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RNS Number : 3375Y

Origin Enterprises Plc

08 May 2019

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 
 Sean Coyle 
 Chief Financial Officer                Tel:     [phone] 
 
 Brendan Corcoran 
 Head of Investor Relations 
  and 
  Group Planning                         Tel:     [phone] 
 
 Goodbody (Euronext Growth (Dublin) 
  Adviser) 
 Siobhan Wall                           Tel:     [phone] 
 
 Davy (Nominated Adviser) 
 Anthony Farrell                        Tel:     [phone] 
 
 Numis Securities (Stockbroker) 
                                                 [phone] 
 Stuart Skinner                         Tel:      1314 
 
 Powerscourt (Financial PR Advisers) 
 Jack Hickey / Eavan Gannon                      [phone] 
  (Ireland)                             Tel:      8339 
 Rob Greening / Jana Tsiligiannis                [phone] 
  (UK)                                  Tel:      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 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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May 08, 2019 05:00 ET (09:00 GMT)