Brief: Aspo Updates Dividend Policy, Long-Term Targets

Aspo Oyj

14/05/2024 06:45

May 14 (Reuters) - Aspo Oyj  ASPO.HE :
    * DIVIDEND POLICY HAS BEEN UPDATED TO REFLECT COMPANY
STRATEGY AND
GROWTH AMBITION
    * ASPO'S DIVIDEND GROWTH IS BASED ON POSITIVE PROFITABILITY
DEVELOPMENT WITH AIM TO PAY-OUT ANNUALLY UP TO 50% OF NET PROFIT
AS DIVIDEND
    * GOAL IS TO GRADUALLY INCREASE AMOUNT OF DIVIDENDS, WHILE
CONSIDERING FINANCING NEEDS OF GROWTH INITIATIVES WITH STRATEGIC
PRIORITY
    * ASSUMPTIONS BEHIND GUIDANCE FOR YEAR 2024 REMAIN UNCHANGED
    * ADJUSTED LONG-TERM FINANCIAL TARGET: EBITA OF 8% (NEW:
OPERATING
PROFIT EXCLUDING AMORTIZATION OF INTANGIBLE ASSETS (EBITA),
PREVIOUSLY OPERATING PROFIT (EBIT))
    * ADJUSTED LONG-TERM FINANCIAL TARGET: NET DEBT / COMPARABLE
EBITDA BELOW 3.0 (PREVIOUSLY: GEARING LESS THAN 130%)
    * ADJUSTED LONG-TERM FINANCIAL TARGET: NET SALES GROWTH
5-10% PER
YEAR (NEW: DEFINED AS MINIMUM ANNUAL GROWTH LEVEL TO BE
ACHIEVED)
    * NEW GUIDANCE: GROUP'S COMPARABLE EBITA EXPECTED TO EXCEED
EUR 32
MILLION IN 2024 (2023: EUR 27.9 MILLION)
    * ADJUSTED LONG-TERM FINANCIAL TARGET: RETURN ON EQUITY OVER
20%

Source text for Eikon:  ID:nGNEx3B6d 
Further company coverage:  ASPO.HE 

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