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.
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.
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.
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.
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.