Brief: Mekonomen Q4 Adjusted EBIT Up At SEK 287 Million

Meko AB

12/02/2021 06:35

Feb 12 (Reuters) - Mekonomen AB  MEKO.ST :
    * YEAR-END REPORT JANUARY - DECEMBER 2020
    * Q4 REVENUE SEK 2.88 BILLION VERSUS SEK 2.95 BILLION YEAR
AGO
    * Q4 ADJUSTED EBIT SEK 287 MILLION VERSUS SEK 149 MILLION
YEAR AGO
    * PROPOSES NO DIVIDEND
    * STABLE DEMAND DESPITE RISE IN SPREAD OF COVID-19
    * ORGANIC NET SALES GROWTH WAS UNCHANGED, WHILE REPORTED
GROWTH
WAS AFFECTED BY CURRENCY EFFECTS, ENDING AT A NEGATIVE 3 PER
CENT.
    * MEKOTARGETS:  AN AVERAGE ANNUAL SALES INCREASE OF AT LEAST
5 PER
CENT, THROUGH A COMBINATION OF ORGANIC GROWTH AND SMALLER
ACQUISITIONS.
    * TARGETS: ADJUSTED EBIT MARGIN OF 10 PER CENT.
    * TARGET IS  NET DEBT/EBITDA IN RANGE 2.0-3.0 TIMES.
    * UNCHANGED GOAL TO PAY DIVIDENDS CORRESPONDING TO NOT LESS
THAN
50 PER CENT OF PROFIT AFTER TAX TO SHAREHOLDERS
    * DOES NOT BELIEVE NOW IS TIME TO REINSTITUTE A DIVIDEND

Source text for Eikon:  ID:nWkrbpRs4K 
Further company coverage:  MEKO.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com;  +48 587696600;))