Financial targets 2017

The Group’s mid-term target is to have an average annual organic revenue growth of at least 6% The Company aims to gradually reach its mid-term financial targets over a time span of 3-4 years.

The financial targets have been amended in 2017 due to the acquisitions of Facade Access Group and Avanti affecting the business mix. The prolonged downturn in oil and gas is also reflected in our revised growth target. Growth will remain a central pillar of our strategy also in the future, but there will be an increased focus on profitability going forward.

The Company has chosen to use EBITA as a new profitability target instead of EBIT, due to the acquisitions and the related amortizations from the acquisitions. The proforma EBITA margin including the acquisitions was 12% in 2016.

Revenue growth

The Group’s mid-term target is to have an average annual organic revenue growth of at least 6%.

EBITA margin

The Group’s mid-term target is to reach an operating EBITA margin of at least 15%.

Leverage (net debt/EBITDA) (Unchanged)

The company will maintain an effective capital structure with a net debt of around twice EBITDA. The capital structure will be flexible and allow for strategic initiatives.

Dividend policy (Unchanged)

The company has a target of paying a dividend of approximately 50% of its net profit for the current period to its shareholders. Decisions on dividend payment will take account of the company’s financial position, cash flow, acquisition opportunities, strategic considerations and prospects.