Brief: Volati Presents New Financial Targets

Volati AB

20/02/2020 07:17

Feb 20 (Reuters) - Volati AB  VOLO.ST :
    * VOLATI PRESENTS NEW FINANCIAL TARGETS
    * ADOPTED NEW FINANCIAL TARGETS AND AN UPDATED DIVIDEND
POLICY,
WHICH REPLACE PREVIOUS FINANCIAL TARGETS COMMUNICATED IN
CONNECTION WITH IPO IN 2016
    * STRATEGIC DIRECTION STANDS FIRM, BUT WITH NEW TARGETS,
COMPANY
WANTS TO CONSOLIDATE ITS STRONG LONG-TERM FOCUS ON VALUE GROWTH.
    * OVERALL OBJECTIVE REMAINS TO GENERATE LONG-TERM VALUE
GROWTH BY
BUILDING AN INDUSTRIAL GROUP OF PROFITABLE COMPANIES WITH SOLID
CASH FLOWS AND CAPACITY FOR CONTINUOUS DEVELOPMENT
    * EBITA GROWTH: TARGET IS AVERAGE ANNUAL GROWTH IN EBITA PER
ORDINARY SHARE OF AT LEAST 15 PERCENT OVER A BUSINESS CYCLE
    * NEW FINANCIAL TARGET: CAPITAL STRUCTURE: TARGET IS A NET
DEBT/ADJUSTED EBITDA* RATIO OF 2 TO 3 TIMES AS AN AVERAGE OVER
LAST FOUR QUARTERS, AND NOT EXCEEDING 3.5 TIMES
    * NEW FINANCIAL TARGET: RETURN ON ADJUSTED EQUITY: LONG-TERM
TARGET IS A RETURN ON ADJUSTED EQUITY OF 20 PERCENT
    * UPDATED DIVIDEND POLICY: VOLATI WILL NORMALLY DISTRIBUTE
10-30
PERCENT OF COMPANY'S NET PROFIT ATTRIBUTABLE TO PARENT COMPANY'S
SHAREHOLDERS
    * DIVIDENDS ON PREFERENCE SHARES ARE ISSUED AT AN ANNUAL
AMOUNT OF
SEK 40.00 PER PREFERENCE SHARE, IN QUARTERLY PAYMENTS OF SEK
10.00

Source text for Eikon:  ID:nWkr9KcBDs 
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