June 19, 2024 14:14 GMT
Jaguar Land Rover (TTMTIN Ba3[P]/BB*+/NR): Investor Day
HIGH YIELD
- JLR now expects increased investment spending from 2026. Guidance last year for FY24 and beyond was £3bn, landed at £3.2bn in 2024. Guidance given at FY results for £3.5bn in FY25 is maintained.
- Total £18bn investment 24-28 implies ~£3.75bn pa for 26-28.
- EBIT margin outlooks adjusted slightly: FY25 from =8.5% to >= 8.5%, with FY26 from > 10% to =10%.
- Still expects net cash from FY2025.
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