Opus revises its financial targets 2020

Opus’ established financial targets from April 2019 have been revised by the Board. 

Following the acquisition of a majority stake of Opus by Ograi and the improved headroom with respect to the leverage covenant under the new financing from Ares, the Opus Board of Directors has decided to remove the leverage target as of 2020. The financial targets for revenue growth and EBITA margin, adopted by the Board in early 2019, remain unchanged.

The 2020 targets are as follows:

• 5-10% annual revenue growth (Organic and acquisitive growth based on 3-year CAGR)
• 15% EBITA margin

Gothenburg, April 22, 2020
Opus Group AB (publ)

This is information that Opus Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out herein, at 07:30 CEST on April 22, 2020. 

 

For additional information, please contact:
Lothar Geilen, CEO
Tel: +46 31 748 34 00
E-mail: lothar.geilen@opus.se

Linus Brandt, CFO & Executive Vice President
Phone: +46 722 44 09 05  
E-mail: linus.brandt@opus.se  

About Opus
Opus is a technology-driven growth company in the vehicle inspection and intelligent vehicle support markets. The company has a strong focus on customer service and innovative technology within emission and safety testing and intelligent vehicle support. Opus had approximately SEK 2.7 billion in revenues in 2019 with solid operating profit and cash flow. Opus’ goal is to reach an annual revenue growth of 5-10 percent, through organic and acquisitive growth based on 3-year CAGR, and an EBITA margin of 15 percent. The majority of the growth is estimated to come from the international expansion of the vehicle inspection business, with a primary focus on the Latin American and Asian markets, and the expansion of the intelligent vehicle support business. With approximately 2,600 employees, Opus is headquartered in Gothenburg, Sweden. Opus has 36 regional offices, 26 of which are in the United States and the others in Sweden, Argentina, Chile, Mexico, Peru, Pakistan, United Kingdom, Spain and Australia. Opus has production facilities in the U.S. in Hartford, Ann Arbor and Tucson. The shares of Opus Group are listed on Nasdaq Stockholm.