KappAhl updated targets
(Thomson Reuters ONE) -
The Board of Directors of KappAhl AB (publ) ("KappAhl") has resolved on a new
share issue of approximately SEK 600 million with preferential right for the
company's existing shareholders by a separate press release announced today. The
new issue is carried out with the purpose of strengthening KappAhl's financial
position which creates prerequisites for reducing debt. In a continuing
uncertain market, a new share issue makes KappAhl better equipped for
maintaining its strong market position.
In the light of changes in market conditions and to secure the long term growth
potential, the Board of Directors has also made a decision to update the group's
operational targets, financial targets and dividend policy according to below
from the fiscal year 2011/12.
Operational targets
* The number of stores is to increase by 20-25 per year
* The operating margin is to amount to 10 percent from the fiscal year
2013/14 at the latest
Financial target
* Interest-bearing net debt is not to exceed, other than temporarily, three
times the EBITDA
Dividend policy
* Dividend is to be 40-60% of the profit after tax provided that the group
reaches the abovementioned financial target
For further information, please contact:
Christian W. Jansson, President and Chief Executive Officer, phone
+46 709 95 02 01
Håkan Westin, Chief Financial Officer, phone +46 704 71 56 64
For pictures and other information:
Annette Björklund, Head Public Relations, phone +46 704 71 55 42, e-mail
annette.bjorklund(at)kappahl.com
KappAhl is a leading Nordic fashion chain with more than 370 stores and 4 800
co-workers in Sweden, Norway, Finland, Poland and the Czech Republic. KappAhl
designs, markets and sells value-for-money fashion and focus in particular on
women 30-50 years of age. During the financial year 2010/2011, KappAhl had sales
of close to SEK 5 billion, with an operating profit of SEK 222 million. KappAhl
shares are listed on the Nasdaq OMX Stockholm. In 1999, KappAhl was the first
fashion chain to receive environmental management standard certification.
Further information is available at www.kappahl.com
KappAhl AB (publ) discloses the information provided here pursuant to the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication on 10 October 2011 at 2.00 p.m.
KappAhl updated targets:
http://hugin.info/136331/R/1553552/478835.pdf
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(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: KappAhl via Thomson Reuters ONE
[HUG#1553552]
Unternehmensinformation / Kurzprofil:
Datum: 10.10.2011 - 14:07 Uhr
Sprache: Deutsch
News-ID 74264
Anzahl Zeichen: 3328
contact information:
Town:
Mölndal
Kategorie:
Business News
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