TI Fluid Systems PLC Capital Markets Day (7317N)
27 Septembre 2023 - 8:00AM
UK Regulatory
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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END
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