News: ANN Ansell Says Decision Made To Exit Russian Operations

Aug 23 (Reuters) - Ansell Ltd (ANN) :

• DECISION MADE TO EXIT OUR RUSSIAN OPERATIONS
• FINAL DIVIDEND OF US31.20 CENTS
• FY SALES $1,952.1 MILLION VERSUS $2,026.9 MILLION
• ANSELL CONSIDERS LAWSUIT ISSUED IN U.S. AGAINST ANSELL AND KIMBERLY-CLARK "WITHOUT MERIT" AND INTENDS TO DEFEND
• FY EBIT $228.1 MILLION VERSUS $338.0 MILLION
• RUSSIA'S INVASION OF UKRAINE CAUSED CO TO RECONSIDER VIABILITY OF BUSINESS IN RUSSIA
• EXIT FROM RUSSIA WILL MEAN THAT $9M EBIT IN FY22 WILL NOT REOCCUR IN FY23
• SEES FY23 EFFECTIVE TAX RATE TARGETED TO BE IN RANGE OF 21.5%-23.5%
• INTEREST COSTS EXPECTED TO INCREASE TO $22-23M FOR FY23
• MADE ULTIMATE DECISION BEING TO EXIT COMMERCIAL AND MANUFACTURING OPERATIONS IN RUSSIA
• FY23 EPS EXPECTED TO BE IN RANGE OF US115 CENTS - US135 CENTS
• WILL MAINTAIN A CAUTIOUS STANCE ON HEADCOUNT
• EXTERNAL ENVIRONMENT REMAINS SUPPORTIVE FOR CONTINUED DEMAND FOR OUR PRODUCTS AND IS EXPECTED TO DRIVE VOLUME GROWTH FOR ALL OUR SBUS
• EXAM/SU PRICE NORMALISATION IS ANTICIPATED TO RESULT IN OVERALL SALES DECLINE IN FY23
• BRIGHTWAY PRODUCTS HAVE NEVER REPRESENTED "MORE THAN A VERY SMALL PERCENTAGE" OF ANSELL'S TOTAL PURCHASES FROM THIRD PARTIES