Financial targets

Metsä Board updated its long-term financial targets and decided on a new dividend policy as of 1 June 2017. The company aims to continue profitable growth and ensure the efficient use of capital.

Metsä Board's target for return on capital employed (ROCE) is at least 12 per cent. According to the company's new target, the ratio of net liabilities to comparable EBITDA is a maximum of 2.5. This target level gives the company enough flexibility for potential growth investments in the future. The previous target for net gearing (less than 70 per cent) has been abandoned.

Metsä Board is a growth company. This is why the company's goal is that the deliveries of its paperboard products grow faster than the average market growth. Global demand for high-quality paperboard made from fresh fibre is expected to grow by approximately 3–4 per cent a year.



​Return on capital employed, comparable, % ​>12%11.2%​​8.1%​11.3%
​Net liabilities / comparable EBITDA​<2.5x1.2x​​2.0x​1.2x
​Growth in paperboard deliveries, % ​Annual growth in paperboard deliveries exceeds the relevant market growth​15%​12%​13%


According to the new dividend policy, Metsä Board aims to distribute at least 50 per cent of the result for the financial period as dividend every year.

see also