8 February 2024
Avon Protection
plc
("Avon"
or "the Group")
Capital Markets
Event
Avon Protection plc is today hosting
an in-person Capital Markets Event for analysts and institutional
investors in London.
The event will be hosted by Jos
Sclater, Chief Executive Officer and Rich Cashin, Chief Financial
Officer, with presentations from Avon's divisional presidents and
transformation team. The presentations will be followed by a
technology showcase with presentations and demos from Avon's
technology leaders.
The event will provide insights
on:
1) Delivering superior performance by creating a
platform for superb execution:
A new
operating model to improve accountability, a strong team capable of
executing the new strategy, an aligned organisation, and the
processes to drive fast execution all expected to provide
competitive advantage.
2)
Growing addressable markets
Addressable markets growing at 3-4% CAGR with end markets
becoming increasingly diversified, broadening opportunities for
growth. Recent world conflicts emphasise the importance of Avon
Protection (Respiratory) and Team Wendy's (Head Protection)
products.
3) A
robust strategy to beat the market
A stable
and valuable recurring revenue business base, DOD contracts
providing a high degree of visibility over future growth and new
and enhanced products to accelerate. Strong orderbook &
pipeline visibility.
4)
Transformation to grow shareholder returns
A concrete
plan to deliver improved returns and high cash flow through
implementation of our four transformation programmes; footprint
optimisation, operational excellence, commercial optimisation, and
functional excellence.
5) A
strong competitive moat
Long term
programmes, a strong order book and sole sourced or dual sourced on
key programmes of record. Extensive certification requirements,
trusted brands with a long-term reputation for excellence, patent
protection and leading market positions all contribute to a
commanding market position driving long term stakeholder
returns.
6)
Ambitious medium-term goals
The Board
is confident in the Group's ability to deliver strong returns over
the medium term, driven by supportive markets, existing contracts,
new and enhanced products and transformation.
As a result, we have announced today
new medium-term financial goals:
·
Revenue Growth: At least 5% CAGR
·
Operating Margin: 14-16%
·
Return on Invested Capital: Above 17%
·
Cash Conversion: 80-100%
·
Leverage: 1 -2 times Net Debt/EBITDA
No new information on trading will
be shared at the event.
Webcast and post-event
recording
For those unable to attend in
person, the event will be broadcast live at 2.00pm today. To access
the presentation, participants will be required to register in
advance using the following webcast link:
https://brrmedia.news/AVON_CMD2024
A recording of the day and a copy of
the presentations will be available following the event on the
Group's website at: www.avon-protection-plc.com/investors/capital-markets-day
If you would like to attend in
person, please email avonprotection@mhpgroup.com
For
further enquiries, please contact:
|
Avon Protection plc
|
|
|
Jos Sclater, Chief Executive
Officer
|
+44 1225 896 848
|
|
Rich Cashin, Chief Financial
Officer
|
|
|
|
|
|
MHP
|
|
|
Tim Rowntree
|
+44 7817 458804
|
|
Ollie Hoare
|
avonprotection@mhpgroup.com
|
About Avon Protection
plc:
We are a world leader in protective
equipment, with a reputation for innovative design,
high-performance quality and specialist materials
expertise.
Our two brands, Avon Protection and
Team Wendy, supply our respiratory and head protection portfolio to
customers across the globe from our manufacturing sites in the UK
and North America.
With over 900 talented people our
shared purpose and core beliefs are to be #FIERCE about Protecting
Lives. It's why we come to work - and it's what motivates us, every
day, to do the best work we can.
For further information, please
visit our website www.avon-protection-plc.com