Quadient launches share buyback program for up to €30 million
Quadient launches share buyback program for up to €30 million
Paris, 23 September 2024
Quadient S.A. (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, today announces the launch of a share buyback program for a total consideration of up to €30 million (total purchase price excluding ancillary costs) to be executed on the market.
This operation demonstrates i) Quadient’s confidence in the value creation potential of its new Elevate to 2030 strategic plan and its ability to reach its FY 2026 leverage ratio reduction target1 , ii) aims at improving total shareholders’ return and iii) is in line with the capital allocation policy of the Company, which aims at balancing:
- investments into the business (notably Mail rented equipment, deployment of parcel locker networks, R&D efforts),
- potential external growth operations while maintaining a flexible approach to the management of the business portfolio,
- maintaining a healthy and efficient balance sheet, with a target for financial leverage ratio excluding leasing of 1.5x in 2026, and
- attractive shareholder return, with a dividend policy based on a minimum 20% payout ratio and the use of excess cash for share buybacks.
The share buyback program will be carried out under the authorization granted by the 2024 Annual General Meeting of shareholders held on 14 June 2024, and may be renewed or extended, up to a maximum of 10% of the total number of shares comprising the share capital of the Company as set out in the 19th resolution of the 2024 Annual General Meeting. Quadient intends to cancel the shares acquired through the share buyback program apart from a portion of up to €10 million, which will be dedicated to future equity-based long term incentive plans for employees and management, as set out in the 19th resolution of the 2024 Annual General Meeting.
Quadient will publish an updated version of the description of the share buyback program (available on the Investor Relations website under the “Regulated information” section) describing these updated objectives. The Company will also publish updates on the program via weekly press releases posted on the Investor Relations website under the “Regulated information” section.
Barring any unforeseeable circumstances, the shares will be purchased over an 18-month2 period ending in January 2026 at the latest.
The buybacks will be carried out subject to market conditions and in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the European Commission Delegated Regulation (EU) 2016/1052. Quadient hereby confirms the absence of any agreement with any of its existing shareholders regarding their potential participation in the share buyback program.
About Quadient®
Quadient is a global automation platform provider powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing.
For more information about Quadient, visit https://invest.quadient.com/en/
Contacts
| Catherine Hubert-Dorel, Quadient +33 (0)1 45 36 30 56 c.hubert-dorel@quadient.com financial-communication@quadient.com |
OPRG Financial Isabelle Laurent / Fabrice Baron +33 (0)6 42 37 54 17 /+33 (0)6 14 08 29 81 isabelle.laurent@omnicomprgroup.com fabrice.baron@ omnicomprgroup.com |
| Caroline Baude, Quadient +33 (0)1 45 36 31 82 c.baude@quadient.com |
1 FY 2026 leverage ratio excluding leasing target of 1.5x
2 Subject to the renewal of the share buyback authorizations at the 2025 AGM
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