Greencore Group plc (‘Greencore’ or the ‘Group’), a leading manufacturer of convenience foods in the UK, is today hosting a Capital Markets Day in London for analysts and institutional investors.
At the event, our Chief Executive, Dalton Philips, together with other members of the Group’s leadership team, will outline the refined strategic direction for the Group, presenting on product innovation, automation, operational and commercial excellence, and the ongoing investment in infrastructure and process efficiency.
We will also set out a summary of the updated Greencore investment proposition including the following highlights:
- Robust core business that provides a strong platform
- Growing convenience food market, with several tailwinds
- Leading positions in attractive categories
- Long-term strategic customer partnerships
- Outstanding innovation credentials
- Scale operations, with well invested sites
- Significant further upside in core business, through commercial and operational excellence programmes
- Strong balance sheet and cash generation
- Opportunity to meaningfully expand and grow into new areas, including through M&A
- Strong extended leadership team, with a track record of delivery
Greencore will outline new medium-term financial targets, detailing how they have been determined and how they will be delivered:
- >15% return on invested capital
- 3-5% revenue growth
- >7% adjusted operating profit>55% cash conversion
- 1-1.5x leverage target (pre-IFRS Net Debt to Adjusted EBITDA)
For those unable to attend the in-person event, the materials and a recording of the presentation will be available on Greencore’s website at www.greencore.com/investor-relations.
Current trading remains in line with that disclosed in our 30 January 2025 trading update, and the Group continues to expect to deliver a FY25 performance in line with current market expectations[1]. The Group will not be providing any new information on current trading at today’s event.
Dalton Philips, Chief Executive Officer
“We are excited to unveil Greencore’s refined strategic direction, which will build on the positive momentum from the past two years. This Capital Markets Day is the Group’s first since 2019 and during the event, we will provide details of our plan to further strengthen our core business, outline how we intend to grow and expand, including the role of M&A, and detail our approach to capital allocation and delivering shareholder returns.
As part of this plan, we are establishing a set of ambitious medium-term financial targets. We are confident in our ability to deliver these targets and believe this plan will benefit not just our shareholders but also our colleagues, customers and other partners.
Greencore is a great business with a strong foundation, lasting partnerships with customers, great food credentials, excellence programmes that are delivering and outstanding people. There is a real opportunity to drive significant, incremental value in the coming years and we are looking forward to sharing our vision and ambition for the future.”
