Financial targets
Nobia’s financial targets aim to generate favourable returns and long-term value growth for shareholders. The operations are steered towards four financial targets, related to organic growth, profitability, capital structure and share dividend.
Growth
Nobia aims at an average organic growth rate of 3 - 5 per cent per year.
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Organic growth, % | 4 | 2 | -4 | 0 | -7 | 8 | 4 | -14 |
Profitability
Nobia's operating margin, excl. items affecting comparability, is to amount to more than 10 per cent over a business cycle.
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin, % | 10.3 | 10.1 | 8.2 | 8.1 | 4.6 | 7.4 | 3.3 | 1.6 |
Capital structure
The Group’s leverage, defined as net debt/EBITDA, shall be below 2.5 times. Leverage is calculated excluding IFRS 16 Leasing, pension debt and items affecting comparability.
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Net debt, SEK m | - | - | 1,266 | 1,344 | 204 | -24 | 1,839 | 3,464 |
| Leverage | - | - | 0.90 | 0.93 | 0.22 | -0.02 | 2.36 | 7.6 |
Dividend
Dividend to shareholders shall comprise at least 40 per cent of net profit after tax. When decisions about the amount of the dividend are made, the company's capital structure is to be taken under consideration.
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Dividend per share, SEK | 3.00 | 7.00 | 4.00 | 0 | 2.00 | 2.50 | 0 | 0 |
| Dividend pay-out ratio, % | 111 | 116 | 90 | 0 | 88 | 60 | 0 | 0 |