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Financial targets

Growth

Nobina’s target is to achieve 5 percent accumulated annual average net sales growth with 2018/2019 as base year. Outcome 2019/2020: 9.4 percent.

Profit margin

Nobina’s target is to achieve an EBT margin of 5 percent at average contract age being 50 percent of average contract length. Outcome 2019/2020: 4.4 percent.

Dividend policy

Nobina expects to, under normal circumstances, pay a dividend of at least 75 percent of earnings (EBT) after tax paid. Outcome 2019/2020: 0 percent.

Net leverage ratio

Under normal circumstances, Nobina’s net leverage ratio is to be within 3 to 4 times EBITDA, including strategic debt financing. Outcome 2019/2020: 3.1x EBITDA.

Comments*

The growth amounted to 9.4%, and thus exceeded the target, and was mainly attributable to acquisitions but also organic growth of 2.4%.

The adjusted EBT-margin was 4.4% at an average contract age of 59% of the average contract length, which was slightly lower than last year and mainly coming from negative effects from the extensive contract migration carried out during the year.

The net debt/EBITDA ratio increased from 3.0x to 3.1x where a relatively large increase in net debt was offset by a clearly improved EBITDA, mainly driven by the acquired companies and positive development in existing contracts.

Given the situation with covid-19 the Annual General Meeting decided that no dividend be paid for the financial year 2019–2020 in order to have good readiness for the future.

with reference to the Group’s financial statements FY 2019/2020.

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