Business
Capital Markets Day
Capital Markets Day.
About this update from Cvs Group Plc
[{"type":"text","content":"\n \n \n 08 November 2022\n \n \n \n CVS Group plc\n \n \n \n (\"CVS\"\n or\n the \"Group\")\n \n \n \n \n \n Capital Markets Day\n \n \n \n \n \n Outlining key elements behind the Group's ambition to double EBITDA over the next five years\n \n \n \n \n \n \n \n \n CVS, the AIM-quoted veterinary group and one of the \n UK's\n leading providers of integrated veterinary services, today is holding its Capital Markets Day in Rotherham. The event will set out the Group's medium term plans in support of its ambition to double EBITDA over the next 5 years.\n \n \n \n \n \n \n The event will cover management's highly-disciplined approach to investment and acquisitions that focuses on shareholder returns, and will highlight the following key elements of its five year ambition:\n \n \n \n \n \n ·\n Organic revenue growth of between 4% and 8% per annum;\n \n \n \n \n \n ·\n Adjusted EBITDA margin between 19% and 23% subject to mix, with the opportunity to improve practice margins through investment in facilities and equipment;\n \n \n \n \n \n ·\n Continued investment in further practice refurbishment and relocations delivering high-quality clinical care, with an opportunity to invest between £30m and £50m per annum to drive additional organic growth;\n \n \n \n \n \n ·\n Greenfield investment with plans to open three greenfield sites in the financial year to 30 June 2023 with further opportunities over the five year period;\n \n \n \n \n \n ·\n On-going opportunity to invest in technology, with the Group recently announcing a new cloud based practice management system;\n \n \n \n \n \n ·\n Continued investment in people;\n \n \n \n \n \n ·\n Acquisition opportunities in the UK and scalable international consolidation opportunities which will remain subject to our disciplined acquisition criteria with expected investment of upwards of c.£50m p.a. across the five year period;\n \n \n \n \n \n ·\n Organic operating cash conversion of > 70% with leverage (net debt / bank test EBITDA) remaining less than c.2.0x; and\n \n \n \n \n \n ·\n Sustainability and ESG remain at the heart of delivering this growth strategy.\n \n \n \n \n \n There will be no new disclosures on current trading conditions, with the Group's overall performance in li...