#124377
Re: Cobas AM: Nueva Gestora de Francisco García Paramés
Guidance
Current year guidance
- To maintain a net cash position at year end
- Capital expenditure of around £190m
- Net exceptional cash costs of less than £100m (from £130m previously guided)
Medium term guidance:
- Group to generate cumulative free cash flow of more than £1bn over 2019/20 to 2023/24
- Group expects at least 4.0% EBIT margin by 2023/24 (equivalent to 3.5% on a pre-IFRS16 basis)
- Total positive cashflow from UK&I Mobile over 2020/21 to 2023/24 will be at least £200m (from previously guided £125-175m range), including £143m generated in 2020/21
- Annual pension contributions will rise to £78m from 2021/22 onwards
- Dividend of 3.0p expected to grow, further details to be provided in due course
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