Ad hoc announcement pursuant to Art. 53 LR
These targets will be discussed in detail at its Capital Markets Day taking place in-person today, Tuesday 21st February 2023, in London. The event will also be webcast. Details for the Capital Markets Day are available here.
Temenos’ new mid-term targets are as follows:
- Annual Recurring Revenue to reach more than USD1.3bn
- Non-IFRS EBIT to reach more than USD570m
- Free Cash Flow to reach more than USD700m
The mid-term targets provided above and other statements about Temenos’ expectations, plans and prospects in this press release constitute forward-looking financial information and represent the Company’s current view and estimates as of 21 February 2023. We anticipate that subsequent events and developments may cause the Company’s guidance and estimates to change. Future events are inherently difficult to predict. Accordingly, actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors. More information about factors that potentially could affect the Company’s financial results is included in its annual report available on the Company’s website.
Non-IFRS financial Information
Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Company’s supplemental non-IFRS financial information may not be comparable to similarly titled non-IFRS measures used by other companies. The Company’s non-IFRS figures exclude share-based payments and related social charges costs, any deferred revenue write-down resulting from acquisitions, discontinued activities that do not qualify as such under IFRS, acquisition/investment related charges such as financing costs, advisory fees and integration costs and fair value changes on investments, charges as a result of the amortisation of acquired intangibles, costs incurred in connection with a restructuring program or other organizational transformation activities planned and controlled by management, and adjustments made to reflect the associated tax charge relating to the above items. Restructuring costs include realizing R&D, operational and infrastructure efficiencies.