Outotec's new long-term financial targets and existing 2020 sustainability targets
(Thomson Reuters ONE) -
OUTOTEC OYJ STOCK EXCHANGE RELEASE NOVEMBER 27, 2014 at 3.30 PM
OUTOTEC'S NEW LONG-TERM FINANCIAL TARGETS AND EXISTING 2020 SUSTAINABILITY
TARGETS
Outotec's Board of Directors has today revised the company's long-term financial
targets to better reflect the current market environment.
New long-term financial targets
* Sales growing faster than the market
* Based on several market institutes' estimates, metals demand is expected
to grow on average 3-6% per annum in line with global GDP growth.
* Annual average service sales growth 10-20%
* EBITA margin (excluding onetime costs) 10% in 3-5 years time
* Dividends on average 40% of annual net income
* Potential mergers and acquisitions may impact the payout of dividends.
* Gearing at maximum 50%
Previous long-term financial targets set in 2010 and 2012 and Outotec's
performance
* Annual average sales growth of 10-20%
* In 2010-2013, Outotec's average growth rate was 25.4%.
* Service sales EUR 500 million by the end of 2015 (target set in 2010)
* Target was achieved in 2013.
* Service sales EUR 1 billion by the end of 2017 (target set in 2012)
* In 2010-2013, Outotec's average service sales growth rate was 21.4%.
* Operating profit margin from business operations on average 10%
* In 2011-2013, the average of 8.9% was reached.
* Dividend policy at least 40% of annual net income
* For years 2011-2013, Outotec has paid 43.9% dividends on average.
* Maintaining strong balance sheet
* In 2011-2013, Outotec has been net cash positive.
Reiterating 2020 sustainability targets set in 2012 and 2013
* Share of Environmental Goods and Services in Outotec's order intake
permanently over 90% (87% in 2013)
* 50% reduction in fresh water consumption per 1 tonne of ore in non-ferrous
metals concentrators delivered by Outotec
* Customers generate 20% less CO(2) emissions through Outotec's metals-related
technologies
* 5% improvement in Outotec's employee engagement and performance enablement
indices
For further information please contact:
OUTOTEC
Mikko Puolakka, CFO
Tel. +358 20 529 211
Email: firstname.lastname(at)outotec.com
DISTRIBUTION:
NASDAQ OMX Helsinki
Main media
www.outotec.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Outotec Oyj via GlobeNewswire
[HUG#1874856]
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