Brief: Pierce Group Updates Financial Targets

Pierce AB (publ)

14/05/2024 08:08

May 14 (Reuters) - Pierce Group AB  PIERCE.ST :
    * SAID ON MONDAY IT UPDATES MEDIUM TO LONG TERM (3-5 YEARS)
FINANCIAL TARGETS 
    * NEW TARGET NET REVENUE GROWTH: ORGANICALLY OUTGROW
EUROPEAN
ONLINE MARKET FOR MOTORCYCLE GEAR, ACCESSORIES AND PARTS
(PREVIOUS: GROW NET REVENUE BY 15-20% ANNUALLY)
    * NEW TARGET: ADJ. EBIT MARGIN OF 5-8% (PREVIOUS: AROUND 8%)
    * DIVIDEND POLICY: OVER NEXT FEW YEARS, COMPANY PLANS TO USE
FREE
CASH FLOWS FOR CONTINUED DEVELOPMENT AND DOES NOT INTEND TO PAY
DIVIDENDS TO SHAREHOLDERS

        
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