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%. The target was achieved in 2021. Net sales rose by 10% as a result of price increases and higher sales volumes.

 

Year Percent
2019: 3% 3
2020: -2% -2
2021: 10% 10
3
Target 3-4%
-2
Outcome -2%
The target is for an EBITDA margin over 17%. In 2021 the EBITDA margin was 15%. Although the margin was lower than the target level, it was a substantial improvement compared to 2020.
Year Percent
2019: 12% 12
2020: 11% 11
2021: 15% 15
17
Target >17%
11
Outcome 11%
The ratio of net interest-bearing debt to adjusted EBITDA should be less than 2.5. Net debt declined in 2021. At the end of the year, the ratio of interest- bearing net debt to EBITDA was 1.0.
Yeae Interest-bearing net debt/EBITDA
2019: 1,9 1.9
2020: 2,0 2.0
2021: 1,0 1.0
2.5
Target < 2.5
2.0
Outcome 2.0
The policy is to issue a dividend to shareholders amounting to more than 50% of the net profit. For 2021, the proposed dividend is SEK 4.30. The proposed dividend corresponds to 60% of the net profit.
Year Percent
2019: 13% 13
2020: 135% 135
2021: 60% 60
50
Target 50%
135
Outcome: 135%