Business
Launch of 2030 Strategy & Capital Markets Day
Launch of 2030 Strategy & Capital Markets Day.
About this update from Hunting Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n For Immediate Release\n \n \n \n \n \n \n 2 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Hunting PLC\n \n \n \n \n \n \n \n \n (\"Hunting\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n \n Launch of Hunting 2030 Strategy and Capital Markets Day\n \n \n \n \n \n \n Hunting PLC (LSE:HTG), the international energy services group with proven capabilities for energy and beyond, today announces the launch of the Hunting 2030 Strategy, a broad-based strategy to grow and evolve the Company through the remainder of the decade and beyond.\n \n \n \n \n \n The highlights of the Hunting 2030 Strategy are detailed below and will be expanded upon at a Capital Markets Day to be hosted in September 2023.\n \n \n \n \n \n \n Strategic Highlights\n \n \n \n \n \n \n ·\n Continue to capitalise on Hunting's proven capabilities in energy services;\n \n \n ·\n Stimulate further growth, rebuild baseload earnings and stabilise profitability:\n \n \n o \n Supported by the strong outlook for global oil and gas sales (North America, Europe, Middle East and Asia Pacific);\n \n \n o \n Furthered through diversifying revenue across non-oil and gas sub-sectors where the Group can leverage existing expertise;\n \n \n o \n Delivered through both organic and inorganic growth opportunities;\n \n \n ·\n Resulting in a long-term EBITDA margin target of 15%; and\n \n \n ·\n Sustainable and growing dividend policy targeting an average increase of c.10% per annum until the end of 2030.\n \n \n \n \n \n Commenting on Hunting's 2030 Strategy, Chief Executive Jim Johnson, said:\n \n \n \n \n \n \n \n \n \"The Board has set a targeted medium-term strategy that derives revenue from a wider range of sectors including oil and gas, as well as the wider energy industry and other sectors requiring precision engineering and systems design, supported by the Group's proprietary technology and sector leading expertise. This strategy will stimulate new growth and rebuild a baseload of earnings to establish greater resilience to the cyclicality of the oil and gas industry, which will in turn lead to more stable earnings and increased investment returns in the medium term.\n \n \n \n \n \n \n \n \n \n \"The evolution of the Group's strategy is underpinned by...