Cardo presents new financial targets and new dividend policy
At the ongoing Capital Market Day in Stockholm, Cardo presents new financial targets for the Group.
The financial targets that were set up for Cardo’s business-to-business divisions in 2005 were achieved in 2008. During 2009, Cardo succeeded in changing its product and market mix in a very difficult market situation and having also adopted economy measures has succeeded in further strengthening its operating margin during the first nine months of 2010. The new financial targets relate to the Group’s total operations and comprise targets for organic growth, operating margin, return on capital employed and net debt/equity ratio. The dividend policy is being enhanced so as to provide a dividend of at least 50 % of net earnings for the year after tax.
New financial targets and dividend policy
Organic growth* > 6 %
Operating margin > 10 %
Return on capital employed > 20 %
Net debt/equity ratio < 1.0 times
Dividend policy (net earnings for the year after tax) > 50 %
* At comparable rates of exchange, incl. price and volume
Apart from the dividend policy and net debt/equity ratio, the financial targets are to be achieved over a business cycle.
Malmö, Sweden, November 25 2010
Cardo AB (publ)
For further information, please contact:
Maria Bergving, SVP Communications & Investor Relations,
tel +46 10 4747 405, +46 70 602 61 81, maria.bergving@cardo.com
Thomas Niklasson, Head of IR/PR, tel +46 10 4747 452, +46 70 277 99 50, thomas.niklasson@cardo.com
Cardo is world-leading supplier of industrial doors and logistics systems, wastewater treatment systems, process equipment for the pulp and paper industry and garage doors. With sales of slightly more than SEK 8 billion and approximately 5.400 employees worldwide, Cardo delivers solutions that help to solve some of the greatest challenges of our time in the fields of water, transportation and energy. Corporate headquarters are located in Malmö, Sweden.
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