Financial targets

Organic growth of 5%

Annual organic growth of 4–5 per cent over the course of a
business cycle.

Result 2022: 5%

Adjusted EBITA margin of ~5.5%

An adjusted EBITA margin of around 5.5 per cent in the medium term.

Result 2022: 5,4 %

Cash conversion >90%

A cash conversion rate in excess of 90 per cent in the medium term.

Result 2022: 94 %

Capital structure <3.0

Net debt of less than 3.0 times adjusted EBITDA in the medium
term.

Result 2022: 1,9 X

Dividend policy ~50%

The goal is to distribute around 50 per cent of the company’s adjusted net profit for the period (before amortisation and impairment of intangible assets) in ordinary dividends to the shareholders.

Result 2022: 111%