Financial targets

NCAB’s medium-term objective is to achieve an average growth before acquisitions of approximately 8 percent per annum and an adjusted EBITA margin of 8 percent. The objective in respect of the capital structure is that net debt in relation to adjusted EBITDA should be less than 2.0.

The indebtedness can temporarily be higher, for example in connection with larger acquisitions. NCAB intends to distribute available cash flow, after taking into account the company’s indebtedness as well as future growth opportunities, including acquisitions. Dividend is expected to correspond to at least 50 percent of net profit.