Royal Mail PLC Pre-Close Announcement and GLS Business Update (8745T)
March 30 2021 - 01:00AM
UK Regulatory
TIDMRMG
RNS Number : 8745T
Royal Mail PLC
30 March 2021
Royal Mail plc
(Incorporated in England and Wales)
Company Number: 8680755
LSE Share Code: RMG
ISIN: GB00BDVZYZ77
LEI: 213800TCZZU84G8Z2M70
30 March 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR
PRE-CLOSE ANNOUNCEMENT AND GLS BUSINESS UPDATE
Trading has been broadly in line with the update published on 10
March. Group adjusted operating profit for FY2020-21 is still
expected to be around GBP700 million.
Martin Seidenberg (CEO GLS) and Thorsten Pruin (CFO GLS), will
provide a business update at 14:30 BST today, outlining medium term
targets for the GLS business. This includes a focus on
International and B2C as key growth opportunities, leveraging the
strength of the GLS network and business model. From FY2019-20 to
FY2024-25, GLS expects to grow revenue at around 12% CAGR (from
EUR3,614 million in FY2019-20), more than double operating profit
to EUR500 million and generate EUR1 billion of free cash flow(1) .
Capex over the period is expected to remain in the range of 3-4% of
revenue.
For FY2020-21, GLS adjusted operating profit is expected to be
around GBP350 million (EUR390 million) and adjusted operating
profit margin c. 8.7%.
An update on Royal Mail in the UK will be provided by Simon
Thompson alongside FY2020-21 results on 20 May.
The Board has reviewed the performance of the Group during the
past year and concluded that it is appropriate to pay a one-off
final dividend of 10p per share in respect of FY2020-21, payable on
6 September 2021 to shareholders on the register at 30 July 2021,
subject to approval at the 2021 AGM. The Board expects to announce
a new dividend policy for the Group with FY2020-21 results on 20
May.
1. FY2020-21 to FY2024-25, including capital lease payments.
Enquiries:
Investor Relations
John Crosse
Phone: 07483 390 957
Email: investorrelations@royalmail.com
Royal Mail investor relations line: 020 7449 8183
Media Relations
Jenny Hall
Phone: 07776 993 036
Email: jenny.hall@royalmail.com
Mark Street
Phone: 07515 924 344
Email: mark.street@royalmail.com
Royal Mail press office: press.office@royalmail.com
Company Secretary
Mark Amsden
Phone: 020 7449 8289
Email: cosec@royalmail.com
FORWARD-LOOKING STATEMENTS
This document contains certain forward-looking statements
concerning the Group's business, financial condition, results of
operations and certain Group's plans, objectives, assumptions,
projections, expectations or beliefs with respect to these items.
Forward-looking statements are sometimes, but not always,
identified by their use of a date in the future or such words as
'anticipates', 'aims', 'due', 'could', 'may', 'will', 'would',
'should', 'expects', 'believes', 'intends', 'plans', 'potential',
'targets', 'goal', 'forecasts' or 'estimates' or similar
expressions or negatives thereof.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the Group's actual
financial condition, performance and results to differ materially
from the plans, goals, objectives and expectations set out in the
forward-looking statements included in this document.
All written or verbal forward-looking statements, made in this
document or made subsequently, which are attributable to the Group
or any persons acting on its behalf are expressly qualified in
their entirety by the factors referred to above. Accordingly,
readers are cautioned not to place undue reliance on
forward-looking statements. No assurance can be given that the
forward-looking statements in this document will be realised;
actual events or results may differ materially as a result of risks
and uncertainties facing the Group. Subject to compliance with
applicable law and regulation, the Group does not intend to update
the forward-looking statements in this document to reflect events
or circumstances after the date of this document, and does not
undertake any obligation to do so.
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END
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