Business
Capital Markets Day
Capital Markets Day.
About this update from Hunting Plc
[{"type":"text","content":"\n\n\n\n\nFor Immediate Release\n\n\n13 September 2023\n\n\n\n \n\n \nHunting PLC\n \n(\"Hunting\" or \"the Company\" or \"the Group\")\n \nCapital Markets Day\n \nHunting PLC (LSE:HTG), the global engineering group, provides the following update ahead of its Capital Markets Day that will be held today at 2.00pm BST / 8.00am CST at the London Stock Exchange.\n \nThe Company's senior management team will set out details of the Hunting 2030 Strategy and how they will drive the evolution of the business, whilst building on the Group's compelling product, technology and manufacturing platform to deliver strong growth and returns over the rest of the decade.\n \nThe Hunting 2030 Strategy is expected to deliver against the following targets:\n \n· c.$1.3 billion sales p.a. by 2025 and c.$2 billion p.a. by the end of the decade\n· EBITDA margins of c.15% by 2025 with further progression by 2030\n· c.$325 million of cumulative free cash flow generated by 2025 and greater than $1 billion by 2030\n· ROCE of c.15% by 2025 and further improvement by 2030\n· Net leverage of less than 1.5x through the period to 2030\n· Increasing dividend policy delivering 10%+ growth per annum with potential for additional share buybacks\n \nManagement will provide further details that support the 2030 Strategy, including a focus on driving strong cash generation and an updated capital allocation policy aimed at supporting stronger returns.\n \nThe Company's belief in its ability to deliver the Hunting 2030 Strategy is supported by:\n \n· The Company's compelling portfolio of IP, leading technology and manufacturing expertise\n· The strength of its blue chip customer base across multiple end markets\n· Long-term term resilience through diversification and growth in energy tr...