Byggmax Group updates financial targets

Byggmax Group’s Board of Directors has decided to update the group’s financial targets, to better reflect the company’s growth ambitions.

Today, Tuesday March 23, Byggmax Group is holding a Digital Capital Markets Day. The program will cover Byggmax position and future ambitions, and also how Byggmax is impacted by some of the biggest trends of our time: discount, the home, and e-commerce. 

Given the company’s position and future potential, the Board of Directors has decided on updated financial targets.

“We have a strong position and are growing significantly faster than the market, with the fastest growth from e-commerce”, says Mattias Ankarberg, CEO of Byggmax Group. “The new sales target, to reach SEK 10 billion by 2025, clearly shows our ambitions to continue to grow fast. The other targets show our aim to do so with good profitability and dividend to shareholders, while maintaining a strong balance sheet and responsibility for the world around us.”

The updated financial targets are:

• Net sales of at least SEK 10 billion 2025 (previous goal: organic growth of 10-15% per year)
• Operating profit measured as EBITA of 7-8% (unchanged)
• Net debt / EBITDA (excl. IFRS16, EBITDA rolling 12 months) max 2.5x (new target)
• Dividend equivalent to at least 50% of net income (unchanged)

In addition Byggmax Group is introducing an externally communicated sustainability target, aimed at maintaining a high pace in the company’s sustainability work: Reduce CO2-emssions from goods transports by 70% by 2030 (per ton and km, vs 2010).

The digital capital markets day is held today Tuesday March 23 at 14:00 – 16:00 CET.

Registration is done at: om.byggmax.se

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 23-03-2021 08:30 CET.

For further information, please contact:

Mattias Ankarberg, CEO Byggmax Group
Mobile: +46 76119 09 85
E-mail: mattias.ankarberg@byggmax.se

Helena Nathhorst, CFO Byggmax Group
Mobile: +46 76119 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 180 physical stores in Sweden, Norway and Finland. 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 2020 was SEK 6.8 billion and the corporate group is listed on Nasdaq since 2010.