Mitie Group Sets Ambitious Financial Targets for 2025-2027
Mitie Group announces ambitious financial targets for 2025-2027, aiming for growth, profit margin, and earnings. They emphasize disciplined investment approach and highlight key growth drivers.
Troy D. Hanson
October 12, 2023
Mitie Group, a prominent outsourcing company in the UK, has announced that it will disclose a set of ambitious financial targets for fiscal years 2025 to 2027 during its upcoming Capital Markets Event. These targets will encompass various key aspects such as earnings, revenue, and profit margin.
Striving for Growth and Profitability
One of the primary goals outlined by Mitie Group is to achieve a high single-digit revenue compound annual growth rate (CAGR) throughout the specified period. In addition, the company aims to establish a 5% operating profit margin by fiscal year 2027. Furthermore, they are aiming for earnings before interest, taxes, depreciation, and amortization (EBITDA) exceeding £300 million ($369.4 million) by this time frame.
Emphasizing Disciplined Investment Approach
Mitie Group asserts that its ability to reach these targets will be underpinned by its unwavering commitment to maintaining a disciplined approach to investment. The company's focus on technology-led transformation is anticipated to contribute significantly to its growth strategy.
Key Growth Drivers
The company expects its transformation strategy to drive growth in three key areas:
Major Key Accounts: Mitie Group anticipates leveraging its technological capabilities to expand its major key accounts.
Upselling to Existing Customers: Through innovative projects, the company plans to capitalize on upselling opportunities within its current customer base.
Mergers and Acquisitions: Additionally, Mitie Group aims to expand its capabilities through strategic mergers and acquisitions.
Positive Market Indicators
At 0753 GMT, Mitie Group's shares witnessed a modest increase of 0.2 pence, equivalent to 0.2%, reaching 103.0 pence.