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By Scott Kanowsky
Investing.com — Amsterdam-listed shares in NN Group NV (AS:) fell on Thursday as buyers thought-about a brand new technique replace from the Dutch insurance coverage agency.
Working capital era (OCG) – a determine used to gauge free money circulation potential – is predicted to rise to €1.8 billion (€1 = $1.0335) in 2025 and €1.5B in 2023, with all segments of the enterprise forecast to contribute to the upper goal. In the long run, OCG progress is seen within the mid-single digits.
NN Group added that it now expects to achieve its 2023 monetary targets “forward of plan.” Its capital return coverage, which requires a progressive dividend per share and an annual share buyback price at the very least €250M, was additionally left unchanged.
“At the moment, new challenges have arisen, equivalent to geopolitical tensions, an vitality disaster driving excessive inflation, and unstable monetary markets,” mentioned chief govt officer David Knibbe in a press release. “Our technique, which is aligned with long-term market developments, will assist us to assist our stakeholders in occasions of uncertainty.”
Analysts at Citi, nonetheless, flagged that buyers could also be disillusioned by the 2025 targets because of their “conservatism.” In a be aware, the analysts mentioned this muted outlook is more than likely an try to permit for potential rate of interest volatility.
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