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BRIEF-NN Group ‍Announces Cost Reduction Target Of Approximately 350 Million Euros By 2020​
November 30, 2017 / 6:13 AM / 14 days ago

BRIEF-NN Group ‍Announces Cost Reduction Target Of Approximately 350 Million Euros By 2020​

Nov 30 (Reuters) - NN GROUP NV:

* ‍COST REDUCTION TARGET OF APPROXIMATELY EUR 350 MILLION BY 2020​

* ‍TARGET ANNUAL OPERATING RESULT BEFORE TAX OF ONGOING BUSINESS GROWTH RATE ON AVERAGE OF 5-7% IN MEDIUM TERM​

* ‍EXPECT OVER TIME TO GENERATE FREE CASH FLOW IN A RANGE AROUND NET OPERATING RESULT OF ONGOING BUSINESS​

* ‍CAPITAL FRAMEWORK AND DIVIDEND POLICY REMAIN UNCHANGED​

* ‍INTEGRATION OF DELTA LLOYD TO BE COMPLETED BY 2020, WITH LEGAL MERGERS COMPLETED BY 2019​

* EXPECT OVER TIME TO GENERATE FREE CASH FLOW IN A RANGE AROUND THE NET OPERATING RESULT OF THE ONGOING BUSINESS‍​

* SEES ‍ADMINISTRATIVE EXPENSE BASE FOR UNITS IN SCOPE OF INTEGRATION TO EUR 1,675 MILLION BY END OF 2020​

* ‍DELTA LLOYD TRANSACTION SHOULD BE LARGELY COMPLETE BY END OF 2018​ Source text for Eikon: Further company coverage: (Gdynia Newsroom:)

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