Financial targets

​Metsä Board has set the following three financial targets:

• Return on capital employed (ROCE) minimum 12% from 2017 onwards

• Net gearing ratio maximum 70%

• Dividend at least 1/3 of the company’s earnings per share

ROCE excl. NRIs

ROCE excl. NRIs
2012 4.8 12
2013 6.4 12
2014 9.1 12
2015 11.3 12
2016 8.1 12

Net gearing

Net gearing
2012 72 70
2013 70 70
2014 51 70
2015 32 70
2016 44 70
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