JDE Peet’s reports full-year results 2020 - Seite 3

As a result, the company targets for the medium- to long-term to deliver organic sales growth of 3 to 5% and mid-single-digit organic adjusted EBIT growth with quality margins. In addition, the company continues to target a Free Cash Flow conversion of approximately 70%.

More information about the company's strategy and future growth opportunities will be shared with institutional investors and equity research analysts during a virtual Strategic Update meeting on Thursday 31 March 2021.

Dividend
JDE Peet's' Board proposes to pay a dividend of EUR 0.70 per share in cash related to FY 20. The dividend will be paid in two instalments of EUR 0.35 each. The first payment date will be on Friday 16 July 2021, with the ex-dividend date on Monday 12 July 2021 and the record date on Tuesday 13 July 2021. The second payment date will be on Friday 28 January 2022, with the ex-dividend date on Monday 24 January 2022 and the record date on Tuesday 25 January 2022. The dividend proposal is subject to approval by the Annual General Meeting of Shareholders to be held on Thursday 17 June 2021.

Financial Review Full-Year 2020

in EUR m	FY 20	FY 19	Organic		Reported
(unless otherwise stated)			change		change
Sales	6,651	6,945	-0.2	%	-4.2	%
Adjusted EBIT	1,278	1,255	6.2	%	1.9	%
Underlying profit for the period	787	801	-		-
Underlying EPS1,2 (EUR)	1.57	-	-		-
Reported EPS (EUR)	0.80	-	-		-
1 Underlying earnings (per share) excludes all adjusting items (net of tax)
2 Based on a pro-forma average number of shares of 499,709,030

In FY 20, total sales decreased by 0.2% on an organic basis. Our In-Home businesses delivered record-high organic sales growth of 9.1% as lockdown measures shifted a significant part of Away-from-Home consumption to In-Home. The Away-from-Home activities showed a relatively stable organic sales performance in H2 versus H1, despite a wave of new lockdown measures in Q4, resulting in a full-year organic sales decline of -30.0%.