Financial targets

Organic growth 3 - 4% per year

 BillerudKorsnäs goal is to grow faster than the market for packaging paper and board1.

 1 Estimated demand CAGR 2013-2025 for combined market for cartonboard, containerboard and sack paper is 2.2%. Source: Pöyry 2014

Outcome 2015
The organic growth for 2015 was 5%, compared with 6% the previous year.

EBITDA margin > 17%

The EBITDA margin should exceed 17%.

Outcome 2015
The EBITDA margin was 18% in 2015, compared with 16% the previous year.

 

Return on capital employed > 13% 

The return on capital employed should exceed 13%. BillerudKorsnäs shall ensure a return corresponding to the shareholders’ return expectations while the cost of the company’s debt is covered with a margin.

Outcome 2015
Return on capital employed was 15% in 2015, compared with 11% the previous year.

 

 

Net debt/EBITDA ratio < 2.5

Interest-bearing net debt in relation to EBITDA should be below 2.5.

Outcome 2015
The net debt/EBITDA ratio at the end of 2015 was 1.2, compared with 2.2 at the end of previous year.

 

 

Dividend policy 50% of net profit

The dividend should amount to 50% of net profit. The dividend paid to shareholders will be dependent on, among other factors, BillerudKorsnäs’ profit level, financial position and future development opportunities.

Outcome 2015
The Board’s proposal at the 2016 AGM is for a dividend per share of SEK 4.25, which equates to a dividend payout ratio of approximately 49%.

Last updated: 2016-04-26