- New target of an annual adjusted EBIT margin of more than 10% within two years and more than 12% within five years
- Remaining financial targets unchanged
Mikael Norin, CEO, says: "The transformation we started in the fall of 2017 is now finalized. We have completed a thorough reorganisation and restructuring of our business, a strengthening of the management team, a rights issue and we have launched a new strategy. This, combined with our strong financial performance in 2019 means that we have met and exceeded our 7% annual adjusted EBIT margin target earlier than expected. We therefore today announce a new accelerated financial target."
The new financial target for the EBIT margin for the Group, which has been adopted by the Board of Directors of Cavotec SA is:
EBIT Margin - Cavotec's target is to reach an annual adjusted EBIT margin of more than 10% within two years and more than 12% within five years.
The remaining financial targets are unchanged:
Sales Growth - Cavotec's target is to achieve an annual organic revenue growth of at least 5% from 2020, in addition to possible acquisitions.
Dividends - Cavotec's target is to distribute dividends of approximately 30-50% of net profits over a business cycle. Any pay-out decision will be based on the Company's financial position, investment needs, acquisitions and liquidity position.
ENDS
For further details please contact:
Johan Hähnel
Investor Relations Manager
Telephone: +46 70 605 63 34
Email: investor@cavotec.com
This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on 21 February, 2020.
About Cavotec
Cavotec is a leading engineering group that designs and manufactures automated connection and electrification systems for ports, airports and industrial applications worldwide. Cavotec's innovative technologies ensure safe, efficient and sustainable operations. To find out more about Cavotec, visit our website at cavotec.com.
Attachment
- Press release 21 February 2020 (https://ml-eu.globenewswire.com/Resource/Download/a640e017-9e21-41bf-8fa1-f92dde48e8d8)
