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BRIDGEWATER, N.J., Nov 19, 2014 - (ACN Newswire) - Today senior executives of Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, will present a business overview to investment analysts. Future growth drivers, financial performance and long-term objectives driving the Company's success will be reviewed. As previously announced, the Analyst Day presentation will be webcast.
By focusing on higher-value specialty ingredients, Ingredion's objective is to achieve $8 billion in sales by 2019 with specialty products approaching 27-30 percent of those sales, up from an estimated 23 percent in 2014. Long-term growth objectives are higher in the food sector and outside of North America.
"Over the past five years we have significantly outpaced the S&P 500 in share price appreciation and total shareholder return. We continue on that path with improving margins from growth in specialties and strong cash flow," said Ilene Gordon, chairman and CEO.
The Company's specialty ingredients are aligned with key consumer trends: authentic ingredients, texture, nutrition and natural sweeteners, like stevia. "We have unique technology capabilities to enable innovation in specialty ingredients and we are making significant investments in R&D and capacity expansion," said Jim Zallie, vice president global specialties.
According to CFO Jack Fortnum, specialty ingredients are growing faster and command higher margins than the Company's core products. "The focus on specialty ingredients will significantly impact margin expansion and earnings growth. Our objective is to generate continued low-double-digit EPS growth over the long-term, as we have over the last 15 years," he said.
Other long-term objectives include driving margin expansion by two percentage points and more than 10 percent return on capital employed.
Webcast
As previously announced, the presentation will be delivered at 9:00 a.m. Eastern Standard Time (8:00 a.m. Central Standard Time). Ingredion will provide copies of the slides and a live webcast of the presentation that can be accessed in the "Investor Relations" section of www.ingredion.com, under the heading "Presentations." Participants are encouraged to log onto the webcast link approximately 10 minutes prior to the start of the presentation. A replay of the presentation will also be available on the Company's website, www.ingredion.com.
ABOUT THE COMPANY
Ingredion Incorporated (NYSE:INGR) is a leading global ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. With customers in more than 100 countries, Ingredion serves approximately 60 diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. For more information, visit www.ingredion.com.
Forward-Looking Statements
This news release contains or may contain 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. The Company intends these forward-looking statements to be covered by the safe harbor provisions for such statements.
Forward-looking statements include, among other things, any statements regarding the Company's prospects or future financial condition, earnings, revenues, tax rates, capital expenditures, expenses or other financial items, any statements concerning the Company's prospects or future operations, including management's plans or strategies and objectives therefor and any assumptions, expectations or beliefs underlying the foregoing.
These statements can sometimes be identified by the use of forward looking words such as "may," "will," "should," "anticipate," "believe," "plan," "project," "estimate," "expect," "intend," "continue," "pro forma," "forecast," "outlook" or other similar expressions or the negative thereof. All statements other than statements of historical facts in this release or referred to in this release are "forward-looking statements."
These statements are based on current expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and are beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, stockholders are cautioned that no assurance can be given that our expectations will prove correct.
Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various factors, including the effects of global economic conditions, including, particularly, continuation or worsening of the current economic, currency and political conditions in South America and economic conditions in Europe, and their impact on our sales volumes and pricing of our products, our ability to collect our receivables from customers and our ability to raise funds at reasonable rates; fluctuations in worldwide markets for corn and other commodities, and the associated risks of hedging against such fluctuations; fluctuations in the markets and prices for our co-products, particularly corn oil; fluctuations in aggregate industry supply and market demand; the behavior of financial markets, including foreign currency fluctuations and fluctuations in interest and exchange rates; continued volatility and turmoil in the capital markets; the commercial and consumer credit environment; general political, economic, business, market and weather conditions in the various geographic regions and countries in which we buy our raw materials or manufacture or sell our products; future financial performance of major industries which we serve, including, without limitation, the food and beverage, pharmaceuticals, paper, corrugated, textile and brewing industries; energy costs and availability, freight and shipping costs, and changes in regulatory controls regarding quotas, tariffs, duties, taxes and income tax rates; operating difficulties; availability of raw materials, including tapioca and the specific varieties of corn upon which our products are based; energy issues in Pakistan; boiler reliability; our ability to effectively integrate and operate acquired businesses; our ability to achieve budgets and to realize expected synergies; our ability to complete planned maintenance and investment projects successfully and on budget; labor disputes; genetic and biotechnology issues; changing consumption preferences including those relating to high fructose corn syrup; increased competitive and/or customer pressure in the corn-refining industry; and the outbreak or continuation of serious communicable disease or hostilities including acts of terrorism. Factors relating to the pending acquisition of Penford Corporation that could cause actual results and developments to differ from expectations include: required regulatory approvals may not be obtained in a timely manner, if at all; the pending acquisition may not be consummated in a timely manner or at all; the anticipated benefits of the pending acquisition, including synergies, may not be realized; and the integration of Penford's operations with those of Ingredion may be materially delayed or may be more costly or difficult than expected.
Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2013 and subsequent reports on Forms 10-Q and 8-K.
CONTACT:
Investors: Steve Latreille, +1-708-551-2592
Media: Claire Regan, +1-708-551-2602
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ingredion Incorporated via Globenewswire
Topic: Press release summary
Source: Ingredion Incorporated
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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