|Target||Description||Average performance 2017–2019||Outcome 2021||Comment 2021|
|Net sales growth||Organic annual growth of more than 4 percent over time, complemented by value accretive acquisitions.||3.1%||10.6%||Although still affected by the pandemic, the hospitality industry bounced back in 2021, sales in Food and Beverage increased by 14.3% while Laundry was almost back to pre-pandemic levels with a sales increase of 5.5%.|
|EBITA margin of 15 percent.||13.1%||8.4%||The pandemic continued to have a negative impact on sales volumes and profitability, but short-term and structural costsaving measures mitigated part of the sales decline, thus EBITA improved substantially during 2021.|
|Asset efficiency Operating working capital||Operating working capital below 15 percent of net sales.||15.9%||14.9%||Working capital as a percent of net sales improved during the year. This is due to improvements in inventory and the reduction of receivables in relation to net sales.|
Net debt/EBITDA ratio
|Leverage ratio below 2.5x Net debt/EBITDA. Higher levels may be temporarily acceptable in case of acquisitions, provided a clear path to de-leveraging.||–||1.9x||The net debt/EBITDA ratio was 1.9 at the end of 2021 which means that we are better or in line with our target. Net debt/EBITDA increased due to the acquisition of Unified Brands. In total, net debt increased from SEK 549m on December 31, 2020 to SEK 1.705m as of December 31, 2021.|
Dividend Policy: Approximately 30% of the annual income of funds legally available for dividend payouts. The timing, declaration, and number of future dividends will depend on the company’s financial situation, earnings, capital requirements, and debt service obligations.
Comment 2021: The AGM approved the dividend proposal of SEK 0.50 per share which is in line with the dividend policy.
Financial goals 2019-10-16T07:23:07+00:00