SOLID BUSINESS MODEL DRIVING SUCCESS
NEW YORK, N.Y., November 28, 2012 - During a presentation to investment analysts at the New York Stock Exchange today, Ingredion Incorporated (NYSE:INGR) Chairman, President and CEO Ilene Gordon reviewed long-term business targets and outlined the growth strategies driving the Company's success as a leading global supplier of ingredient solutions.
"We have a solid business model and know how to create value. Over the last three years we have met or exceeded our long-term performance targets. Our balanced mix of products, geographies and industries served position us well now and into the future for growth," she explained.
Highlighting the company's innovation, Gordon emphasized the Company's capabilities in delivering solutions that meet important customer trends like health, nutrition and wholesome/natural ingredients. "Our on-going R&D investment is part of our ingredient solution strategy," she said.
Cheryl K. Beebe, Ingredion CFO, reviewed the Company's long-term targets that remain attractive and achievable. "We expect earnings per share to grow 10 to 12 percent over the long term, while maintaining a focus on return on capital employed. Earnings performance should be driven by a combination of organic sales growth of three to four percent, cost efficiencies and mix improvement," she stated.
In addition the Company has the opportunity to drive earnings growth through acquisitions and/or share repurchase. "Over time we have demonstrated our ability to achieve these targets. In fact, we have exceeded our targeted EPS growth with 17 percent adjusted EPS CAGR since going public in 1998," Beebe pointed out.
An audio webcast of the presentations, including slides is available in the Investors section of the Company's website, www.ingredion.com.
ABOUT THE COMPANY
Ingredion Incorporated (NYSE:INGR) is a leading global ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. With customers in more than 40 countries, Ingredion, formerly Corn Products International, Inc. serves approximately 60 diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. For more information, visit ingredion.com.
Investors: Aaron Hoffman, 708-551-2592
Media: Claire Regan, 708-551-2602
This news release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends these forward-looking statements to be covered by the safe harbor provisions for such statements.
Forward-looking statements include, among other things, any statements regarding the Company's prospects or future financial condition, earnings, revenues, tax rates, capital expenditures, expenses or other financial items, any statements concerning the Company's prospects or future operations, including management's plans or strategies and objectives therefor and any assumptions, expectations or beliefs underlying the foregoing.
These statements can sometimes be identified by the use of forward looking words such as "may," "will," "should," "anticipate," "believe," "plan," "project," "estimate," "expect," "intend," "continue," "pro forma," "forecast" or other similar expressions or the negative thereof. All statements other than statements of historical facts in this release or referred to in this release are "forward-looking statements."
These statements are based on current expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and are beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, stockholders are cautioned that no assurance can be given that our expectations will prove correct.
Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various factors, including the effects of global economic conditions, including, particularly, continuation or worsening of the current economic conditions in Europe, and their impact on our sales volumes and pricing of our products, our ability to collect our receivables from customers and our ability to raise funds at reasonable rates; fluctuations in worldwide markets for corn and other commodities, and the associated risks of hedging against such fluctuations; fluctuations in the markets and prices for our co-products, particularly corn oil; fluctuations in aggregate industry supply and market demand; the behavior of financial markets, including foreign currency fluctuations and fluctuations in interest and exchange rates; continued volatility and turmoil in the capital markets; the commercial and consumer credit environment; general political, economic, business, market and weather conditions in the various geographic regions and countries in which we buy our raw materials or manufacture or sell our products; future financial performance of major industries which we serve, including, without limitation, the food and beverage, pharmaceuticals, paper, corrugated, textile and brewing industries; energy costs and availability, freight and shipping costs, and changes in regulatory controls regarding quotas, tariffs, duties, taxes and income tax rates; operating difficulties; availability of raw materials, including tapioca and the specific varieties of corn upon which our products are based; energy issues in Pakistan; boiler reliability; our ability to effectively integrate and operate acquired businesses; our ability to achieve budgets and to realize expected synergies; our ability to complete planned maintenance and investment projects successfully and on budget; labor disputes; genetic and biotechnology issues; changing consumption preferences including those relating to high fructose corn
syrup; increased competitive and/or customer pressure in the corn-refining industry; and the outbreak or continuation of serious communicable disease or hostilities including acts of terrorism.
Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see "Risk Factors" included in our Annual Report on Form 10-K for the year ended December 31, 2011 and subsequent reports on Forms 10-Q and 8-K.