Financial targets

Billerud has financial targets for growth and profitability, coupled with principles governing the company’s indebtedness and dividends to shareholders.

The target is an annual net sales growth of 3–4%. This target was greatly exeeded in 2022 as net sales increased by 63%, mainly due to the acquisition of Verso.

 

Year Percent
2018: 6% 6
2019: 3% 3
2020: -2% -2
2021: 10% 10
2022: 63% 63
3
Target 3-4%
63
Outcome 63%
The target is for an EBITDA margin over 17%. This was achieved in 2022 as the EBITDA margin for the year was 19%. The improved margin was mainly a result of higher sales prices and an improved product mix.
Year Percent
2018: 12% 12
2019: 12% 12
2020: 11% 11
2021: 15% 15
2022: 19% 19
17
Target >17%
19
Outcome 19%
Net interest-bearing debt in relation to EBITDA should be less than 2.5. At the end of 2022, the ratio was 0.6, well below the target level.
Year Interest-bearing net debt/EBITDA
2018: 3.2 3.2
2019: 1.9 1.9
2020: 2.0 2.0
2021: 1.0 1.0
2022: 0.6 0.6
2.5
Target < 2.5
0.6
Outcome 0.6

The policy is to issue a dividend to shareholders of more than 50% of the net profit. The proposed dividend for 2022 of SEK 7.50 per share, comprising of an ordinary dividend of SEK 5.50 and an extraordinary dividend of SEK 2.00, corresponds to 41% of the net profit for the year.

Year Percent
2018: 86% 86
2019: 26% 26
2020: 135% 135
2021: 60% 60
2022: 41% 41
50
Target >50%
41
Outcome: 41%