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In July 2018, we disclosed our goal of achieving non-IFRS operating margin in a target range of 3.5% to 4.0% over the next 1 to 3 year period. We have increased and accelerated this target range to 3.75% to 4.5% over the next 12 to 18 months, as we anticipate additional benefits from several previously announced strategic initiatives associated with: (i) the review of our CCS revenue portfolio, intended to improve financial performance in this segment, (ii) our $50 to $75 million cost efficiency initiative, and (iii) continued expansion of our ATS segment revenue portfolio, both organically, as well as through strategy-aligned acquisitions such as Atrenne and our anticipated acquisition of Impakt. The foregoing target range represents our objectives and goals, and is not intended to be a projection or forecast of future performance. Our future performance is subject to risks, uncertainties and other factors that could cause actual outcomes and results to differ materially from the goals described above.
We do not provide reconciliations for forward-looking non-IFRS financial measures, as we are unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or amount of various events that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking IFRS financial measure. For these same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-IFRS financial measures may vary materially from the corresponding IFRS financial measures.
About Celestica
Celestica enables the world's best brands. Through our recognized customer-centric approach, we partner with leading companies in aerospace and defense, communications, enterprise, healthtech, industrial, capital equipment (including semiconductor capital equipment), and smart energy to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and deliver a better future with our customers.
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