Capital Markets Event
TT Electronics sets medium-term targets including 12% adjusted operating margin by 2026 and Net Zero by 2030.
- Revenue growth target ahead of end market growth of 4-6%
- Adjusted operating margin target 12% in 2026
- Cash conversion target 85%+
- ROIC target mid to high-teens
- Net Zero Scope 1&2 emissions target 2030 (brought forward by 5 years)
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TT Electronics plc ("TT", "the Group"), a global engineer and manufacturer of electronic solutions for critical applications is today hosting a Capital Markets Event. The event will provide insights on our improvement plans to unlock value through a focus on Efficiency, Growth and Innovation.
A laser focus on execution, supported by a move from our current divisional structure to a function-led regional structure will leverage our strong engineering and manufacturing capabilities to unlock value and improve returns. This focus will drive enhanced performance and today we are setting new medium-term financial targets including:
- Revenue growth ahead of end market growth of 4-6%
- 12% adjusted operating margin in 2026
- Strong cash conversion of 85%+
- ROIC target of mid to high-teens
In addition, we are bringing forward by 5 years our plan to achieve Net Zero on our Scope 1&2 emissions, from 2035 to 2030.
No new information on current year trading will be shared at the event. Conditions in our markets and the 2024 guidance provided with our FY23 results on 7 March remain unchanged.
Peter France, Chief Executive Officer, commented:
"I am excited to share our plans for the next stage of TT's evolution, to create long term sustainable value for all our stakeholders. We have identified numerous opportunities for commercial and operational improvement and have a clear strategy to drive enhanced performance and improved returns."
Event Information
The event will be hosted by Peter France, Group Chief Executive Officer and Mark Hoad, Group Chief Financial Officer, who will be joined by senior leaders from across the Group. The event will be held at Deutsche Numis in London with an in-person Q&A session and product exhibition. For those unable to attend in person, the event will be broadcast live at 2:00pm today.
To access the presentation, please register in advance using the following webcast link: https://stream.brrmedia.co.uk/broadcast/65f1e02a3fde7fad508dedd7
A recording of the presentation and copy of the presentations will be available following the event on the Group's website at www.ttelectronics.com/investors
If you would like to attend in person, please email melanie.evans@ttelectronics.com
Peter France, Chief Executive Officer Mark Hoad, Chief Financial Officer Kate Moy, Head of Investor Relations and Communications
| MHP | Tel: +44 (0)20 3128 8100 |
Tim Rowntree / Ollie Hoare
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