CRANBURY, N.J., April 5, 2017 /PRNewswire/ -- Innophos Holdings, Inc. (NASDAQ: IPHS) today announced Vision 2022:
Vision 2022: The Path to Revitalized Growth is rooted in four core drivers:
"Today, thanks to our achievements in 2016, we are a stronger organization," said Kim Ann Mink, Ph.D., Chairman, President and Chief Executive Officer. "We have a renewed leadership team, much improved processes and systems in place, and a strategic plan to drive sustainable growth and become more meaningful to our stakeholders.
"Our strategic growth roadmap is defined and actionable," continued Mink. "We are methodically pursuing acquisition opportunities that position Innophos to have a more diversified portfolio of market-leading specialty ingredient solutions that more deeply addresses consumer megatrends in the specialty Food, Health and Nutrition ingredients markets. At the same time, we are taking actions to selectively defend and maintain our cash generating core phosphate based ingredients business.
"By executing against our strategic pillars of Operational Excellence, Commercial Excellence and Strategic Growth, we are confident that we can achieve our target of $1.25 billion in revenue and 20% adjusted EBITDA by 2022," Mink continued.
Preliminary Q1 Results Expectations; 2017 Guidance Reiterated
"Consistent with what we have previously communicated, our preliminary first-quarter results and our forecast for the first half of 2017 reflect the unfavorable year-on-year impact from the portfolio pruning actions that began in the second quarter of 2016," said Mink. "Overall, with 2017 expected to be another year of transition, we remain laser-focused on protecting earnings and delivering cash, as we build on our three strategic pillars to position Innophos for revitalized growth."
The Company provided the following preliminary view for Q1 2017, which ended March 31, 2017:
The Company also reiterated their expectations for 2017, as follows:
Investor Day to be Webcast at 8:30 a.m. ET
The Company's investor day presentation will be webcast live beginning at 8:30 a.m. ET today, April 5, 2016. The live audio webcast and presentation slides will be accessible in the "Investors" section of Innophos' website. The event will be archived on the Company's website for approximately one year.
About the Company
Innophos is a leading international producer of specialty ingredient solutions that deliver far-reaching, versatile benefits for the food, health, nutrition and industrial markets. We leverage our expertise in the science and technology of blending and formulating phosphate, mineral and botanical based ingredients to help our customers offer products that are tasty, healthy, nutritious and economical. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations across the United States, in Canada, Mexico and China. For more information, please visit www.innophos.com. 'IPHS-G'
Investors: Mark Feuerbach, 609-366-1204 or firstname.lastname@example.org
Media: Ryan Flaim, Sharron Merrill Associates, 617-542-5300 or IPHS@investorrelations.com
Safe Harbor for Forward-Looking and Cautionary Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. As such, final results could differ from estimates or expectations due to risks and uncertainties, including but not limited to: incomplete or preliminary information; changes in government regulations and policies; continued acceptance of Innophos' products and services in the marketplace; competitive factors; technological changes; Innophos' dependence upon suppliers; and other risks. For any of these factors, Innophos claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/innophos-unveils-vision-2022-the-path-to-revitalized-growth-targeting-125-billion-revenue-and-20-adjusted-ebitda-by-2022-300434900.html
SOURCE Innophos Holdings, Inc.
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