Johnson Matthey (JMAT.L) has announced the creation of an Investment Committee within its Board. This new Committee is set to strengthen the company's investment strategies and capital allocation decisions. Its key duties will involve the review and endorsement of the company's investment strategy, major capital projects, and merger and acquisition activities.
Looking ahead to the fiscal year 2024/2025, the Group anticipates generating positive free cash flow. This is largely attributed to the advantages stemming from their transformation strategy and improved performance in the PGMS sector, due to expected volume increases. The Board projects that cash conversion levels will grow significantly—from approximately 20-30% during FY 2024/25, to at least 50% in FY 2025/26, and surpassing 80% in FY 2026/27 and the years following.
The Board expresses confidence in the value that Johnson Matthey's transformation strategy will bring to its shareholders. Moreover, it maintains an open and ongoing assessment of alternative strategic options for maximizing value in the regular course of business operations.
