Haldex presents updated financial targets
Over the past year, the management and the Board have been working on a strategic review of the business and a more powerful action program aimed at improving profitability. These efforts have, among other things, resulted in cost savings programs, as well as an increased focus on profitable segments. In connection with this ongoing review, the Board of Directors of Haldex has decided to update two of the three financial targets and the dividend policy. The updated targets and policy are:
Achieve a sustainable operating margin above 10 percent. (previous target: achieve an operating margin of 10 percent by 2022, excluding investments in new technology)
A net debt/equity ratio of less than 1.5 (incl. IFRS 16). (previous target: a net debt/equity ratio of less than 1
The dividend shall correspond to 1/3 of the annual net profit taking into account the company's long-term investment needs and financial position. (previous target: 1/3 of annual net profit over a business cycle should be distributed to shareholders
The financial target for growth remains unchanged:
Organically grow in line with or faster than the company's end markets.
For further information, please contact:
Helene Svahn, CEO
Lottie Saks, CFO
Phone: +46 418 47 60 00
This information is information that Haldex AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 am CEST on April 22, 2021.
Over 100 years of powerful innovation gives Haldex unsurpassed expertise when it comes to braking systems and air suspension systems for heavy trucks, trailers and buses. We live and breathe our business with the goal to deliver robust and technically superior solutions which is founded in a deep insight in our customer’s reality. Through focusing on our core competences and the passion we all share, we achieve the agility and flexibility that the market demands. Innovative collaborations aren’t only the core of our products, but our philosophy. Our 2000 employees, spread out across four continents, challenge the conventional on a daily basis in order to secure that the products we deliver create a unique value to our customers and the end users. We are listed on Nasdaq Stockholm and have a turnover of approx. 4 billion SEK.