Outlook and financial targets

Musti’s outlook

Outlook in the Offering Circular on January 31, 2020

The company expects the growth of the pet products and services market to continue, with approximately four percent growth annually. Pet owners are increasingly more focused on high-quality products and services. The future outlook of Musti is positive, as the Musti Group is focused on these products and services. Musti also expects to continue developing its online and digital platform, and the Musti Group’s development in the area of CSR is expected to continue both in the short and long term.

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.

GrowthSales to reach at least EUR 350 million by the financial year 2023 by continuation of strong customer acquisition momentum.
ProfitabilityMid- to long-term adjusted EBITA margin of 10-12% with steadily improving profile. Margin increase is expected to be realised through steady gross margin and improving operating leverage.
Capital structureMaintain net debt in relation to adjusted EBITDA below 2.5x in the long term.
Dividend policyTo pay a dividend corresponding to 60-80% of net profit. Any potential dividend shall take into account acquisitions, the company’s financial position, cash flow and future growth opportunities.

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