JMAT Johnson Matthey Plc

TIDMJMAT

RNS Number : 4113K

Johnson Matthey PLC

22 April 2020

 
Supporting our stakeholders for today, and for the future 
Johnson Matthey, a leader in science and sustainable technologies, 
 sets out the actions it is taking to support its employees, customers, 
 suppliers, shareholders and communities during the unprecedented COVID-19 
 pandemic. 
 
At JM, we have a clear vision - to make the world cleaner and healthier 
 - and a set of strong values which are the principles we are using 
 to ensure we successfully navigate COVID-19 in the interests of our 
 stakeholders and society. 
 
Throughout our long history, we have used our leading science to solve 
 our customers' problems and our science is at the heart of countless 
 products and services that the world relies on. Our teams are continuing 
 to work hard to manufacture vital drug ingredients and medical devices 
 for the healthcare industry and produce important catalysts and chemicals 
 that enable the world's food and energy supply chains. 
 
More broadly, our COVID-19 commitments are designed to ensure that 
 our colleagues remain healthy and secure, our global teams can continue 
 to serve the needs of our customers safely and that our company supports 
 the local communities in which we operate. We continue to execute our 
 long term strategic plans to create value for our shareholders, and 
 we believe our commitments, alongside the actions we are taking to 
 preserve cash and strengthen our financial position, will support the 
 long term health of the business for all stakeholders. 
 
Our colleagues 
Our top priority is the safety, health and wellbeing of our 15,000 
 people. We are closely monitoring developments in the COVID-19 outbreak 
 and are taking the appropriate steps to help maintain the ongoing health 
 and safety of our employees. Johnson Matthey has: 
 
--   Enabled working from home arrangements for all roles that can do 
      so; 
--   Ensured the highest standards of safety in all working practices; 
--   Enhanced our existing health and wellbeing support for all employees; 
--   Put self-isolation procedures in place for employees who are displaying 
      symptoms or have been in contact with a confirmed infected individual; 
--   Decided that we will not take any COVID-19 support from the UK government 
      for furloughed staff during April, May and June 2020 (Q1 of our 2020/21 
      financial year); and 
--   Pledged to make no member of staff redundant as a direct result of 
      the impact of COVID-19 until the end of June 2020. 
 
Our customers and suppliers 
Johnson Matthey is an important part of the value chains that are providing 
 vital products and services to the healthcare industry, and that are 
 maintaining food and energy supplies during 
 COVID-19. We have: 
 
--   Kept operations running for customers where it is safe to do so and 
      where government measures allow, so we are there when they need us; 
--   Maintained our payment terms to support all of our suppliers; and 
--   Pledged to support any small supplier to our business that is suffering 
      hardship and requests early payment terms as a result of the impact 
      of COVID-19 during April, May and June 2020. 
 
 
Our communities 
Our communities are at the heart of the fight against COVID-19 and 
 we are committed to playing our part in the local areas in which we 
 operate. Johnson Matthey has: 
 
--   Started manufacturing goggles and visors across a number of our sites 
      which are being offered to community medical staff and care organisations; 
--   Donated PPE equipment to medical and care organisations; and 
--   Pledged to match all donations made by our employees to fund local 
      projects supporting communities though COVID-19. 
 
We know that science will help provide the solution in winning the 
 fight against COVID-19 long term, as well as many other major health 
 and climate related challenges that we will face over the years to 
 come. However, the impact of COVID-19 is likely to further increase 
 the barriers to studying science for children and young people. To 
 tackle this challenge, we are committing GBP1 million as a special 
 fund to be donated to local and regional programmes in the areas in 
 which we operate, to improve access to a quality science education 
 to enable a cleaner and healthier world. 
 
Our shareholders 
We continue to drive long term sustainable value creation for our shareholders 
 through: 
 
--   Taking actions to maintain a strong financial position and tightly 
      manage our cash flow and costs as we navigate the short term impact 
      of COVID-19; and 
--   Continue to execute our strategic plans that drive operational efficiencies 
      across our business, while at the same time maintaining key long 
      term investments for future growth; 
--   We will give more detail on the actions we are taking in our full 
      year results announcement planned for 28(th) May 2020. 
 
Management actions 
In recognition of the circumstances affecting many of JM's employees, 
 customers, suppliers and communities, the Chair, Patrick Thomas, Chief 
 Executive, Robert MacLeod, Chief Financial Officer, Anna Manz and our 
 Non-Executive Directors have chosen to make a donation equal to 20% 
 of their salaries and fees for at least the first quarter of 2020/21 
 to provide support to the company's special fund for science education. 
 
Robert MacLeod, Chief Executive said: "Everything we do at JM is aligned 
 to using our science to make a positive contribution to a cleaner, 
 healthier world, today and for future generations. This is particularly 
 relevant in the context of COVID-19 and I am pleased we can support 
 our people, customers, suppliers, shareholders and communities at the 
 heart of our organisation. 
 
I am particularly grateful to all our colleagues who have shown dedication 
 to our business and our customers in the face of COVID-19, be it our 
 frontline employees who continue to come to work at our sites around 
 the world, or staff who have adjusted so resourcefully to the challenges 
 of working at home. 
 
Every day we are putting our inspiring science to work to enhance lives, 
 creating the vital products and services for our customers that help 
 to support the healthcare sector and keep our economy going. Our commitment 
 to helping our stakeholders goes beyond business and we are determined 
 to help in every way we can." 
 
                                      Ends 
 
 
Enquiries: 
Media                  Director of Corporate Relations       020 7269 8407 
 Sally Jones            Tulchan Communications                020 7353 4200 
 Simon Pilkington 
 
 Investor Relations                                          020 7269 8241 
  Martin Dunwoodie     Director of Investor Relations         020 7269 8235 
  Louise Curran         Senior Investor Relations Manager     020 7269 8242 
  Jane Crosby           Investor Relations Manager 
 

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