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Tate & Lyle PLC hosted a Capital Markets event for investors and analysts on 8 February 2023. During the event, the company announced an updated organic performance ambition for the five years ending 31 March 2028, targeting 4-6% revenue growth, 7-9% EBITDA growth per annum, up to 50 basis points average annual return on capital employed improvement, and US$100 million in cumulative productivity benefits. Tate & Lyle also stated it is adopting a simplified disclosure framework with three segments: Food & Beverage Solutions, Sucralose, and Primary Products Europe, and will no longer report central costs separately.
| Date | 8 Feb 2023 |
| Time | 07:00:04 |
| Category | Miscellaneous |
| ID | 2128P |
8 February 2023 - Tate & Lyle PLC
Tate & Lyle Capital Markets Event
Tate & Lyle PLC (Tate & Lyle) is today hosting a Capital Markets event for investors and analysts.
The event will focus on the Group's strategy, business model, portfolio, markets, and science-led approach which puts it at the centre of the future of food. The event will be hosted by Nick Hampton, Chief Executive, Dawn Allen, Chief Financial Officer, alongside other members of the Tate & Lyle senior management team.
Nick Hampton, Chief Executive said:
"Over the last five years, Tate & Lyle has been transformed into a growth-focused speciality food and beverage solutions business. A global leader in sweetening, mouthfeel and fortification, Tate & Lyle creates high-value speciality ingredients and solutions that meet growing global demand for healthier and tastier food and drink.
At today's event we look forward to outlining the large and attractive markets we operate in, our portfolio of highly functional speciality ingredients that directly address growing consumer trends, our scientific and solutions capabilities, how we work with customers, and our purpose-driven approach fueling our new focus on 'Science, Solutions, Society'."
Performance ambition for the five years ending 31 March 2028
Today, Tate & Lyle is announcing an updated organic performance ambition for the five years ending 31 March 2028 to deliver:
• Revenue growth of 4% to 6% per annum, underpinned by high single digit Food & Beverage Solutions growth per annum
• EBITDA growth of 7% to 9% per annum
• Return on capital employed improvement of up to 50 basis points per annum on average.
• A new target to deliver US$100 million of cumulative productivity benefits
Reporting changes
Reflecting its new shape, the Group is adopting a simplified disclosure framework, moving to three segments - Food & Beverage Solutions, Sucralose and Primary Products Europe. As a result of this change, Central costs will no longer be reported separately.
Following the Group's recent third quarter trading update on 26 January 2023, no new material trading information or update in respect of the current financial year ending
31 March 2023 will be provided during the event.
Registration is required to attend the event with details available on our website at https://www.tateandlyle.com/investors-hub. The slides to be presented at the event will be available from the investor relations section of our website shortly before the event, and the webcast of the presentation will be available shortly after the event.
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For more information contact Tate & Lyle PLC:
Christopher Marsh, VP, Investor Relations
Mobile: +44 (0) 7796 192 688
Nick Hasell (FTI Consulting), Media Relations
Mobile: +44 (0)7825 523 383
About Tate & Lyle:
Tate & Lyle is a world leader in ingredient solutions for healthier food and beverages. Supported by our 160-year history of ingredient innovation, we partner with customers to provide consumers with healthier and tastier choices when they eat and drink. We are proud that millions of people around the world consume products containing our ingredients every day.
Through our expertise in sweetening, mouthfeel and fortification, we develop solutions which reduce sugar, calories and fat, add fibre and protein, and provide texture and stability in categories including beverages, dairy, bakery, soups, sauces and dressings.
We have more than 3,500 employees working in around 57 locations across 39 countries. Tate & Lyle's purpose is Transforming Lives Through the Science of Food and through our purpose we believe we can successfully grow our business and have a positive impact on society. We live our purpose in three ways, by supporting healthy living, building thriving communities and caring for our planet.
Tate & Lyle is listed on the London Stock Exchange under the symbol TATE.L. American Depositary Receipts trade under TATYY. In the year to 31 March 2022, Tate & Lyle revenue from continuing operations totalled £1.4 billion. For more information, please visit https://www.tateandlyle.com or follow Tate & Lyle on Twitter, Linkedin, Facebook or YouTube.