Edition:
United Kingdom

Neopost unveils new growth strategy, M&A and dividend plans


Wednesday, 23 Jan 2019 

Jan 23 (Reuters) - Neopost SA ::REG-NEOPOST UNVEILS ITS AMBITIOUS "BACK TO GROWTH" STRATEGY FOR THE PERIOD 2019-2022.REINVEST IN NEOPOST HIGHLY CASH GENERATIVE LEGACY MAIL RELATED SOLUTIONS OFFERING.TO STREAMLINE GROUP'S ORGANIZATION TO RUN MAJOR OPERATIONS IN A MORE EFFICIENT AND INTEGRATED WAY.INTENDS TO ADAPT THE GROUP'S SHAREHOLDER RETURN POLICY AND ALLOW FOR POTENTIAL RELEVERAGING TO GAIN FLEXIBILITY IN CAPITAL ALLOCATION.WILL AIM TO SEIZE BOLT-ON ACQUISITION OPPORTUNITIES.INTENDS TO STREAMLINE THE GROUP'S ORGANIZATION TO RUN THE MAJOR OPERATIONS IN A MORE EFFICIENT AND INTEGRATED WAY.SETTING FOR ITSELF A TARGETED ENVELOPE THAT WILL BE DEDICATED TO M&AS AMOUNTING TO EUR 100 MILLION ON AVERAGE PER YEAR OVER 2019-2022 PERIOD.AIMS AT SPENDING ON AVERAGE EUR 100 MILLION PER YEAR IN CAPITAL EXPENDITURE, WHICH WOULD BE MOSTLY ALLOCATED TO MAJOR OPERATION.2019-2022 "BACK TO GROWTH" STRATEGIC PLAN: A MID-SINGLE DIGIT SALES CAGR AT CONSTANT EXCHANGE RATES.TO SET ITS ANNUAL PAY-OUT RATIO AT A MINIMUM OF 20% OF GROUP ATTRIBUTABLE NET INCOME WITH MINIMUM ANNUAL DIVIDEND SET AT AN ABSOLUTE FLOOR OF EUR 0.50 PER SHARE.OVER THE 2019-2022 "BACK TO GROWTH" STRATEGIC PLAN, AIMS AT ACHIEVING A MID-SINGLE DIGIT SALES CAGR AT CONSTANT EXCHANGE RATES.COMMITS TO RETURNING TO SHAREHOLDERS AT END OF 2019-2022 PLAN POTENTIALLY UNUSED SHARE OF ITS NET EUR 400 MILLION M&A TARGETED ENVELOPE..2019-2022 "BACK TO GROWTH" STRATEGIC PLAN: A HIGH-SINGLE DIGIT CURRENT EBIT CAGR AT CONSTANT EXCHANGE RATES. 

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