The Clinigen Group PLC Directors are proposing to maintain the final dividend of 5.46p per share (2020: 5.46p), resulting in a full year dividend of 7.61p per share (2020: 7.61p).
The final dividend will be paid, subject to shareholder approval, on 4 January 2022 to shareholders on the register on 3 December 2021.
Other financial highlights include:
Adjusted EBITDA from continuing operations decreased by 10% (-5% on an organic basis) to £116.3m, (2020: £129.8m) reflecting the impact of COVID-19 and a change in gross profit mix partially offset by good cost control. Adjusted EPS from continuing operations down 14% to 55.9p (2020: 65.3p).
Net debt as at 30 June 2021 of £316.9m, (£335.8m inc. IFRS 16 liabilities) representing net debt leverage of 2.8x, meaningfully below the Group's temporary banking covenant of 3.5x. Group expected to de-lever significantly over the course of this financial year to below 2.5x by the end of FY2022 and within their stated target of below 2.0x within FY2023.
Strong cash conversion with adjusted operating cash flow for the year from continuing operations up 6% to £99.9m (2020: £93.9m).
