The Board of Directors of Nordic Waterproofing Holding A/S (STO: NWG.ST) has updated the Group’s long-term financial targets. The Group aims to continue prioritize profitable growth and to ensure efficient use of capital.
Nordic Waterproofing’s new profitability target is connected to capital efficiency and the return on capital employed (ROCE) exceeding 15 percent before items affecting comparability. This target level is analogue to the previous EBIT margin target of at least 10 percent, which has been replaced. “We believe in our business model with the two segments Products & Solutions and Installation Services, and the new profitability target better reflects the profitability in these segments, taking the capital efficiency into account. In addition, we want to exploit the growth potential in full. Profitability, efficient use of capital and increasing shareholder value are at the core of what we do,” says Martin Ellis, CEO of Nordic Waterproofing.
Nordic Waterproofing’s financial targets as of 15 August 2017:
• Sales growth: Nordic Waterproofing’s goal is to exceed the growth experienced in the Group’s current markets through organic growth. In addition, the Group expects to grow through selective acquisitions
• Profitability (updated): Nordic Waterproofing’s goal is to generate a return on capital employed (ROCE) before items affecting comparability exceeding 15 percent
• Capital structure: Net debt in relation to EBITDA before items affecting comparability (R12M basis), excluding temporary deviations, shall not exceed 2.5 times
• Dividend policy: Nordic Waterproofing aims to have an annual dividend of more that 50 percent of its net profit. The payout decision will be based on the Group’s financial position, investment needs, liquidity position as well as general economic and business conditions
This information is such that Nordic Waterproofing Holding A/S is obliged to make it public pursuant to the EU Market Abuse Regulation. The information submitted for publication, through the contact person set out below, on 15 August 2017, at 8.01 a.m. CET.
For further information, please contact:
Jonas Olin, CFO and investor relations
Telephone: +46 708 29 14 54