THGHY - THG Plc GAAP EPS of -£0.44 revenue of £2.24B; issues FY 2023 and medium-term outlook
2023-04-18 02:29:37 ET
- THG Plc press release ( OTCPK:THGHY ): FY GAAP EPS of -£0.44.
- Revenue of £2.24B (+2.8% Y/Y).
- Adjusted EBITDA of £64.1m reflects the stated strategy to limit consumer exposure to commodity cost increases to prioritise retention and growth in the global customer base.
- FY 2023 and medium-term outlook and guidance: The Board anticipates FY 2023 Group revenue growth across continuing divisions of low to mid-single digit. Adjusted EBITDA is expected to be in line with the company consensus, with a significant weighting to the second half of the year.
- Capital expenditure for the Group is therefore expected to be up to £135m in FY 2023 (FY 2022: £176m), and in the range of £130m to £140m in FY 2024, remaining between 5.5% to 6.5% of revenue over the medium-term.
- Margin accretion, reduced capital expenditure and cash adjusting items (c.£15m in FY 2023, a 65% reduction on FY 2022) and working capital rationalisation all support a clear path to being free cash flow neutral in FY 2023, turning positive in FY 2024.
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THG Plc GAAP EPS of -£0.44, revenue of £2.24B; issues FY 2023 and medium-term outlook