Financial targets

The Board of Directors has set the following financial targets. The financial targets are forward-looking statements and are not guarantees of future financial performance.

Long-term financial targetOutcome
in FY2022
GrowthNet sales to reach at least EUR 500 million by the financial year 2024 by continuation of strong customer acquisition momentum and increasing share of wallet.Net sales EUR 391.1 million, growth 14.7%.
ProfitabilityMid- to long-term adjusted EBITA margin of at least 13 per cent with steadily improving profile. Margin increase is expected to be realised through steady gross margin and improving operating leverage.Adjusted EBITA margin 9.9%.
Capital structureMaintain net debt in relation to adjusted EBITDA below 2.5x
in the long term.
Net debt/ LTM adjusted EBITDA 2.1.
Dividend policyTo pay a dividend corresponding to 60-80 per cent of net profit. Any potential dividend shall take into account acquisitions, the company’s financial position, cash flow and future growth opportunities.The capital return corresponds to approximately 75%* of the group’s profit for the financial year.
*Board’s proposal to the Annual General Meeting.

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