LONDON (dpa-AFX) - Elementis plc (ELM.L) announced the Group expects adjusted operating profit for 2019 to be in a range of $122 million to 124 million. The Group said its trading in the final quarter of the year has been somewhat subdued.
The Group expects 2019 operating cash conversion to be in line with its medium term performance objective of at least 90%. Net debt for the year is anticipated to be approximately $465 million.
Paul Waterman, CEO, said, 'Our overall performance in 2019 has been negatively impacted by a challenging market backdrop as the more cyclically exposed parts of the portfolio like Chromium and Energy have deteriorated through second half. We remain committed to delivering our medium term Group performance objectives of a 17% operating profit margin, operating cash conversion of at least 90% per annum and financial leverage of under 1.5x EBITDA, with further reduction thereafter.'
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