Temenos announces completion of its 2024 share buyback program Montag, 02. September 2024 - 07:56

Temenos announces completion of its 2024 share buyback program

GRAND-LANCY, Switzerland, September 2, 2024 – Temenos AG (SIX: TEMN), the banking software company, today announces the successful completion of its 2024 share buyback program.

This share buyback program, which commenced on June 10, 2024, was completed on August 30, 2024. During this period, Temenos repurchased a total of 3,263,937 registered shares via a second trading line at an average price of CHF 61.2757 per share, for a total amount of CHF 200 million.

These repurchased shares represent 4.3% of the company’s registered share capital, totaling 75,171,084 shares as of the date of this announcement.

The shares were repurchased for the purposes of a subsequent capital reduction to be proposed at the Annual General Meeting of Shareholders in 2025.

With its strong free cash flow generation, Temenos still expects the company’s leverage to be towards the low end of its target operating leverage of 1.5 to 2.0x net debt to non-IFRS EBITDA by year end. The share buyback will be marginally accretive to EPS growth in FY-24 with more pronounced accretion in FY-25.

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About Temenos

Temenos (SIX: TEMN) is the world’s leading platform for composable banking, serving clients in 150 countries by helping them build new banking services and state-of-the-art customer experiences. Top performing banks using Temenos software achieve cost-income ratios almost half the industry average and returns on equity 2X the industry average. Their IT spend on growth and innovation is also 2X the industry average.

For more information, please visit www.temenos.com.

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