Sales and Marketing Overview & Strategic Business Overview
3-YEAR FINANCIAL OUTLOOK(1)
CREATING SHAREHOLDER VALUE BY DELIVERING ON REVENUE GROWTH, TARGET MARGINS AND CAPITAL ALLOCATION
$2.9
2021
Net sales
(in billions of dollars)
7-10% CAGR
(1) See slide entitled "Forward-Looking Statements" on page 3
Adjusted
operating margin (2,3)
20%
18-20%
$3.6-3.9
|
I
2024E
2021
2024E
Capital allocation
CAPEX investment of 6-8%
of net sales over the 3-year period
Annual dividend growth
Continued share repurchases
in line with our 1-2x leverage framework
and valuation considerations
M&A
Opportunistic M&A to strengthen organic
growth capabilities
(2) This is a non-GAAP ratio. This measure does not have any standardized meanings prescribed by IFRS and is therefore unlikely to be comparable to a similar measure presented by other companies. The disclosures for this measure are incorporated by reference to
section 17.0 "Definition and reconciliation of non-GAAP financial measures" of the Company's January 2, 2022 MD&A which was filed on February 24, 2022 and is available at www.sedar.com.
(3) Results reflect a 60 bps one-time benefit stemming from the USDA's Pandemic Assistance for Cotton Users program
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