TIFS Ti Fluid Systems Plc

TIDMTIFS

RNS Number : 7317N

TI Fluid Systems PLC

27 September 2023

27 September 2023

Capital Markets Day

TI Fluid Systems PLC ("TIFS" or the "Group") is today holding a Capital Markets Day event, at 4:00pm (UK) in London, to provide an update on the progress of the Group's strategy for sustainable long-term growth within the automotive industry's transition to electrification.

The event which will be hosted by Hans Dieltjens, Chief Executive Officer and President, will re-affirm that the Group:

   1.   Has a proven business model with deep fluid handling expertise. 
   2.   Is confident in its ability to generate sustained top-line growth through the transition. 

3. Is committed to delivering strong returns for all stakeholders and is on track to return to double-digit adjusted EBIT margins.

In addition, members of the senior management team will present on Strategy, Technology, China, ESG and Finance. These will be followed by an interactive product tour and an opportunity to meet with management on an informal basis.

New regional structure

TIFS is also pleased to announce a change in organisational structure, which will ensure the Group is fully aligned with customers and agile to respond to local differences in the speed of transition to electric vehicles.

With effect from 1 January 2024, the Group will transition from the current product line structure, encompassing Fuel Carrying Systems and Fuel Tank & Delivery Systems, to a geographic organisation with newly established regional divisions for the Americas, Europe & Africa and Asia Pacific.

Medium-term financial targets

The Group remains confident in the upgraded 2023 outlook provided with the H1 results in August 2023.

In line with its Taking the Turn Strategy, the Group has established the following medium-term financial targets:

-- Growth - the Group is targeting, on a constant currency basis, FY26 revenue of EUR3.8-4.2 billion, with a longer-term ambition to generate revenue of over EUR4.5 billion by 2030.

-- Profitability - the Group is targeting a return to a double-digit adjusted EBIT margin in the medium term, supported by increased market volume, commercial effectiveness, and continued productivity.

-- Cash generation - the Group continues to target adjusted free cash flow conversion of c.30% of adjusted EBITDA, which will support the revised capital allocation policy announced in August 2023.

The event takes place today at 4:00pm UK at the ME Hotel, Strand, London WC2R 1HA. If you would like to attend and have not yet registered, please email investorrelations@tifs.com .

The event materials will be available on the TI Fluid Systems Investors website ( www.tifluidsystems.com/investors ), and after the event a recording will also be posted.

We have also made a live webcast available at https://tifluidsystems.com/cmd2023/ . If you would like to register for this, please email investorrelations@tifs.com .

Enquiries

 
TI Fluid Systems plc        FTI Consulting 
Tim Furber / Kellie McAvoy  Richard Mountain 
Investor Relations          Nick Hasell 
Tel: +44 1865 871 887       Tel: +44 20 3727 1340 
 

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September 27, 2023 02:00 ET (06:00 GMT)

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