MITIE Group PLC Capital Markets Event (8505P)
12 Octubre 2023 - 1:00AM
UK Regulatory
TIDMMTO
RNS Number : 8505P
MITIE Group PLC
12 October 2023
12 October 2023
Mitie Group plc: Capital Markets Event
New Three-Year Plan Launched
"From Facilities Management to Facilities Transformation"
New Stretching Financial Targets Set
Mitie Group plc ("Mitie" or "the Group") (LSE: MTO), the UK's
leader in facilities management and transformation, is today
hosting a Capital Markets Event for institutional investors and
sell-side equity research analysts (1pm BST - 5pm BST).
The Event will introduce the Group's new Three-Year Plan for
FY25-FY27: "From Facilities Management to Facilities
Transformation".
Mitie will outline how customers' needs for their built
environment are changing to meet increasing demands for asset
optimisation; a reduced carbon footprint; higher levels of
assurance for security and cleanliness; whilst embracing hybrid
working and creating a 'Great Place to Work'.
The Capital Markets Event will feature a series of presentations
from the Mitie Senior Leadership Team, highlighting the strengths
of the business and opportunities for growth, as well as showcasing
Mitie's leading technologies in action in its 'Transformation
Hub'.
Mitie's technology-led Facilities Transformation strategy is
expected to drive faster growth in three key areas:
-- Growth in major Key Accounts;
-- Growth in Projects work through 'upselling' to existing customers; and
-- Growth through Infill M&A to add new capabilities
Mitie will set out new financial targets for FY25 - FY27, as
follows:
-- High single digit revenue compound annual growth rate (CAGR)
-- 5% operating profit margin [1] by FY27
-- EBITDA >GBP300m by FY27
-- EPS CAGR above that of revenue, despite higher Corporation Tax rates
-- GBP150m p.a. free cash flow by FY27
These growth targets will be underpinned by the Group's
continued disciplined approach to investment of:
-- c.20% Return on Group Invested Capital
-- Average leverage between 0.75 to 1.5x's EBITDA
Separately, the Board is pleased to announce that CEO, Phil
Bentley, has confirmed his commitment to delivering the next
Three-Year Plan.
Join our event today, in person or online, to hear more about
how Mitie is leading the industry: "From Facilities Management to
Facilities Transformation".
Event and registration details
The event will commence with lunch and registration at 12.15pm
BST at the Group's headquarters in The Shard, 32 London Bridge
Street, SE1 9SG.
Presentations will commence at 1pm BST and will be streamed
live. Please register via the following link:
https://webcasts.umcdn.com/mit029
If you would like to attend in person and have not done so
already, please contact Kate Heseltine: kate.heseltine@mitie.com
.
- END -
For further information
Kate Heseltine M: +44 (0)738 443 E: kate.heseltine@mitie.com
Group IR Director 9112
Claire Lovegrove M: +44 (0)790 027 E: claire.lovegrove@mitie.com
Director of Corporate 6400
Affairs
Richard Mountain M: +44 (0)790 968
FTI Consulting 4466
About Mitie
Founded in 1987, Mitie's job is to look after places where
Britain works, and it is the leading facilities management company
in the UK. We offer a range of services to the public sector
through our Central Government & Defence and Communities
(Healthcare, Education, Campus & Critical and Care &
Custody) divisions. Our Technical Services (Engineering Services,
Energy, Water and Real Estate Services) and Business Services
(Security, Cleaning, Landscapes, Spain and Waste) divisions serve
private sector customers in areas such as Financial &
Professional Services, Industrials, Retail and Transport, and
increasingly the public sector.
Mitie employs 64,000 people. We take care of our customers'
people and buildings, through the 'Science of Service', and we are
transforming facilities to be more flexible, safe, sustainable, and
attractive to all. Mitie continues to execute its technology-led
strategy and in the past twelve months has received multiple awards
and validation for its ambitious near and long-term science-based
emissions reduction targets from the Science Based Targets
initiative (SBTi). Find out more at www.mitie.com .
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October 12, 2023 02:00 ET (06:00 GMT)
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