STOCKHOLM, Sept. 23, 2021 /PRNewswire/ -- Lindab's Board of Directors has today taken the decision to update the financial targets. The growth target is raised to 10 percent sales growth per year, from the current 5-8 percent. The operating margin should now exceed 10 percent annually. The targets for net debt and dividends are left unchanged.
"Lindab's performance has improved significantly in the last few years. We are now streamlining operations and after the divestment of business area Astron Building Systems, we are focusing all our efforts on Ventilation Systems and Profile Systems. The strong balance sheet means that we can accelerate acquisitions and we will therefore further increase our growth ambition", says Peter Nilsson, Chairman of the Board of Directors of Lindab.
Annual growth
The target for the annual growth rate is to amount to at least 10 percent, as a combination of organic and acquired growth. The previous target was that the annual growth rate should amount to 5-8 percent, as a combination of organic and acquired growth.
Profitability
The target for the operating margin is to exceed 10 percent per year, excluding one-off items and restructuring costs. The previous target was that the operating margin over a business cycle should average 10 percent, excluding one-off items and restructuring costs.
Net debt
The target for the net debt (including IFRS16) is that it should not be higher than three times EBITDA, measured over a 12-month average. This target is unchanged.
Dividend policy
The policy is that at least 40 percent of the net profit should be distributed annually to the shareholders, taking into account the company's financial position, acquisition opportunities and long-term financing needs. The dividend is split up on two payments per year. The dividend policy is unchanged.
Press and investor meeting
Lindab has earlier today announced the divestment of business area Building Systems, which is marketed under the Astron brand. Due to the divestment, as well as updated financial goals, Lindab invites journalists, analysts and investors to a webcast later today. There will also be an opportunity to ask questions.
Date and time: 23 September, 16.00 CET.
To participate, join via the web at https://tv.streamfabriken.com/pressconference-2021
or call:
SE: +46 856642651 PIN: 14066646#
UK: +44 3333000804 PIN: 14066646#
US: +1 6319131422 PIN: 14066646#
This disclosure contains information that Lindab is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 23-09-202115:11 CET.
Contacts:
Peter Nilsson
Chairman of the Board
Phone: +46 (0) 431 850 00
Ola Ringdahl
President and CEO
E-mail: ola.ringdahl@lindab.com
Phone: +46 (0) 431 850 00
Catharina Paulcén
Head of Corporate Communications
E-mail: catharina.paulcen@lindab.com
Mobile: +46 (0) 701 48 99 65
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https://news.cision.com/lindab/r/lindab-updates-its-financial-targets,c3420451
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https://mb.cision.com/Main/1983/3420451/1472388.pdf | Release |
