Ricardo PLC Capital Markets Day (8237M)
May 26 2022 - 1:00AM
UK Regulatory
TIDMRCDO
RNS Number : 8237M
Ricardo PLC
26 May 2022
Ricardo plc
("Ricardo" or the "Company")
Capital Markets Day
Ricardo plc, a global strategic, environmental and engineering
consulting company, will today host its Capital Markets Day for
analysts and investors at 14:30 BST in London. The event, which is
also available to join virtually, will be hosted by Graham Ritchie,
CEO of Ricardo, and will include presentations from the Ricardo
executive team.
The event will provide a deeper understanding of the Group's
strategy and the actions underway to drive profitable growth.
Ricardo's refreshed strategy aims to refocus the Group and
reinforce its competitive differentiation, shifting from mobility
services towards environmental and energy transition solutions.
Ricardo will do this by:
-- Being purpose-led, with its business units sharing the same
DNA characteristics and united by Ricardo's vision and values with
a firm commitment to sustainability.
-- Creating additional value through disciplined sales and
investment focus in high-growth, high-margin environmental and
energy transition solutions.
-- Continuing to deliver operational rigour through efficient
cross-business unit activities and a shared operating model to
support global expansion.
Ricardo's strategy will focus on:
-- Portfolio prioritisation: Developing a solutions portfolio
closer to mega trends relating to sustainable and safe mobility;
energy transition; rapid urbanisation and corporate
decarbonisation.
-- Global expansion: Expanding and developing our chosen market positions.
-- M&A acceleration: Aligned to environmental and energy transition and geographic expansion
5-year financial targets:
The financial framework is aimed at achieving the following
targets:
-- Underlying operating profit to more than double over the five years to FY27
-- Underlying operating profit margin to reach mid-teens by FY27
-- Operating cash conversion to average more than 90% over the five years to FY27
Further, the Group's capital allocation policy will be to:
-- Maintain dividend policy of 2.5-3x cover by underlying EPS
-- Manage net debt leverage to be up to 1.25x net debt to EBITDA
-- Manage capital expenditure at 3-4% of revenue
Ricardo remains in line with meeting the board's expectations
for FY21/22. Please note that no further material new information
with regards to FY21/22 outlook will be shared during the
presentations.
The presentation slides will be available at 14:30 BST today via
the Company's website www.ricardo.com. A video of the event will be
available via the same link from 12.00 (UK time) on Monday 30 May
2022. To register for the event, please email
ricardo@secnewgate.co.uk
ENDS
About Ricardo
Ricardo plc is a global strategic, environmental, and
engineering consulting company, listed on the London Stock
Exchange. With over 100 years of engineering excellence and
employing close to 3,000 employees in more than 20 countries, we
provide exceptional levels of expertise in delivering innovative
cross-sector sustainable outcomes to support energy transition and
scarce resources, environmental services together with safe and
smart mobility. Our global team of consultants, environmental
specialists, engineers and scientists support our customers to
solve the most complex and dynamic challenges to help achieve a
safe and sustainable world. Visit www.ricardo.com
Further enquiries:
Ricardo plc
Natasha Perfect, Group Marketing and Communications
Tel: 01273 455611 website: www.ricardo.com
SEC Newgate
Elisabeth Cowell/ Ian Silvera/ Isabelle Smurfit
Tel: 020 7680 6882 email: ricardo@secnewgate.co.uk
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END
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