Endeavour Group Strategy Update: $300M Cost Savings Target
Endeavour Group Strategy Update and Investor Day
Endeavour Group Ltd (ASX:EDV) announced a strategy update, including a reset of its retail strategy and repositioning of Dan Murphy's and BWS. The company will simplify its hotels operating model and accelerate investment.
Cost Savings and Investment Plans
Endeavour Group targets A$300 million in cost savings by FY29, with A$100 million expected by FY27. Investment in the hotels network will increase through renewals and repositioning.
Winery and Vineyard Portfolio Changes
The company will exit the majority of its winery and vineyard portfolio, including Chapel Hill, Oakridge, and Josef Chromy. The targeted dividend payout ratio has been revised to 50%-75% of underlying net profit after tax.
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