Grafton Group PLC Capital Markets Event (9698R)
November 10 2021 - 9:00AM
UK Regulatory
TIDMGFTU
RNS Number : 9698R
Grafton Group PLC
10 November 2021
Capital Markets Event
Grafton Group plc ("Grafton" or "the Group"), the international
building materials distributor and DIY retailer, will hold a
Capital Markets Event for pre-registered analysts and institutional
investors at 15:00 today at the offices of Numis in London.
The event will focus on the Group's core values and growth
ambitions over the medium term. We will discuss the importance of
sustainability to our businesses, with reference to a document
which has been published on our website today setting out our
sustainability achievements and objectives for the future.
The afternoon will include presentations and videos covering
several of Grafton's businesses, organic growth, the role of
digital and our acquisition framework, led by Group Chief
Executive, Gavin Slark and Chief Financial Officer, David Arnold
and including a number of senior colleagues.
The presentation today will set out the Group's new medium term
financial return targets of 10% operating margin and 13% return on
capital employed. In addition, the Group's capital allocation
strategy, including Grafton's medium term financial leverage target
of 1-2 times net debt to lease adjusted EBITDA will be discussed.
This leverage target translates into capital available for
acquisitions over the next few years in the range of GBP750m to
GBP1.25bn once the proceeds from the disposal of the GB traditional
merchanting business have been received.
Given the Group's balance sheet strength, the Group will be
targeting a slightly lower range of 2-3 times dividend cover going
forward compared to an average of 3.5 times over the last twenty
years. We expect that the full year 2021 dividend coverage ratio
will be at the top end of that 2-3 times range.
No new information will be provided on current trading further
to the Group's latest trading update, which was published on 9
November 2021.
The event can also be viewed via a live webcast which can be
accessed from this link and a recording will be available on the
Company's website following the event.
For further information please contact:
Grafton Group plc +353 1 216 0600
Gavin Slark Chief Executive Officer
David Arnold Chief Financial Officer
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END
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November 10, 2021 09:00 ET (14:00 GMT)
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