Byggmax Group published updated financial targets
Byggmax Group AB (publ) today announce updated financial targets, affirming the commitment to driving future profitable growth and value creation. The Board of Directors has decided to update the financial targets to reflect the company’s ambition to grow beyond the market while delivering profitability and maintaining a strong balance sheet. Byggmax's efficient business model enables both dividends to shareholders and investment in growth.
"We have a clear roadmap to deliver on our targets. Based on our strong discount position, we will continue simplifying our operations, leveraging our commercial investments, and elevating our market presence to drive sustainable growth and deliver significant value," says Karl Sandlund, CEO Byggmax.
The updated financial targets are:
- Growth exceeding market, implying at least 5 percent annual sales increase over a business cycle
- The EBITA margin should be at least 7 percent per year
- Net debt excl. IFRS 16/EBITDA R12 shall not be more than 2.5x (unchanged)
- Byggmax shall distribute 50 percent of net profit, considering the financial position (unchanged)
These financial targets replace the previously communicated ones from March 2021. It should be noted that the sustainability targets remain the same as before.
Byggmax CEO Karl Sandlund and CFO Helena Nathhorst will provide an update on the new financial targets and the strategic roadmap during a conference call at 10.30 CET today.
Conference call
A presentation will be available before the conference call on our website, https://om.byggmax.se/en/investors/presentations
To join the conference call the following numbers:
SE (Local): +46 10 884 80 16 PIN: 819327
UK (Toll Free) +44 800 358 1035 PIN: 819327
UK (Local) +44 20 3936 2999 PIN: 819327
For other countries see below link:
PIN: 819327
Press *1 to ask a question, *2 to withdraw your question, or *0 for operator assistance.
A recording will be available until Wednesday, June 5, 2024
Sweden and all other locations: +44 020 3936 3001
UK (Toll free): +44 808 304 5227
PIN: 729024
This disclosure contains information that Byggmax Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-05-2024 08:00 CET.
For further information, please contact:
Karl Sandlund, President and CEO
Mobile: +46 76 119 01 84
E-mail: karl.sandlund@byggmax.se
Helena Nathhorst, CFO
Mobile: +46 76 119 00 40
E-mail: helena.nathhorst@byggmax.se
About Byggmax Group
Byggmax is a leading Nordic retail chain offering construction materials and do-it-yourself products with a well-developed online commerce section and 209 physical stores in Sweden, Norway, Finland and Denmark. Byggmax offers straightforward and excellent value products of high quality at the best price. Byggmax wants to be close to its customers and offer customers the know-how to improve their homes, regardless of budget or previous experience. Included in Byggmax Group is Skånska Byggvaror, a Nordic e-commerce company with self-developed compound products for home and garden, such as patio rooms and green houses. The group’s annual revenue 2023 was SEK 6.1 billion and the corporate group is listed on Nasdaq since 2010.