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Share Name Share Symbol Market Type Share ISIN Share Description
Synthomer Plc LSE:SYNT London Ordinary Share GB0009887422 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.12% 161.50 162.60 162.90 166.60 162.00 165.60 663,399 16:35:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 2,329.5 283.9 48.3 3.3 755

Synthomer PLC Investor Seminar

12/10/2022 7:00am

UK Regulatory (RNS & others)


Synthomer (LSE:SYNT)
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TIDMSYNT

RNS Number : 5538C

Synthomer PLC

12 October 2022

12(th) October 2022

Synthomer Plc

Investor Seminar

Synthomer plc ('Synthomer' or 'the Company') is today hosting an Investor Seminar to provide an update on its strategy and give greater insight into its recently acquired Adhesive Technologies division.

The event will set out the Company's plans to: Focus, Strengthen, and Grow:

- Focus through portfolio rationalisation to reduce complexity, increased end market orientation, expanding the specialty solutions portfolio and disciplined capital allocation

- Strengthen with investment in innovation leveraging sustainability, business excellence and returning leverage to target levels

- Grow from being a larger scale, more focused and stronger business in attractive growth markets

In addition, Synthomer will set out the following medium term financial targets:

   -     Constant currency growth: Mid-single-digit % 
   -     EBITDA margin: 15%+ 
   -     ROIC: Mid-teens % 
   -     Innovation: 20% (New & patented product volumes launch in the prior 5 years) 

The Group's key priority is to return leverage to within its target range of 1-2X and management will outline the initiatives to do that. The Company is in discussions with its banks to ensure that there is sufficient headroom for its covenants going forward. As part of the waiver process, the Board has suspended dividend payments until the end of 2023, including the payment that is due this November.

The event is being held at The Royal Society of Chemistry from 09.00 to 11.45 BST. There will be a webcast of the seminar starting at 09.00 BST with a replay available afterwards. To register for the webcast, visit 12th October - Synthomer Results (world-television.com) .

For enquiries contact:

 
 Investors:    Tim Hughes, Synthomer        + 44 7764 859147 
 
 Press:        Charlie Armitstead, Teneo    +44 7703 330269 
 

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 rns@lseg.com or visit www.rns.com.

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(END) Dow Jones Newswires

October 12, 2022 02:00 ET (06:00 GMT)

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