Financial targets

Metsä Board' financial targets are:

* Comparable return on capital employed (ROCE) a minimum 12 per cent.

* The ratio of interest-bearing net debt to 12 months rolling comparable EBITDA a maximum of 2.5x.




​Measure


TArget​

2019
ACTUAl

2018
ACTUAL

2017
ACTUAL
​Comparable ROCE, %
​>12%
10.4%​​14.4%​11.2%

Net debt/ Comparable
EBITDA
​<2,5x1,1x​​1,0x​1.2,x


Metsä Board's divident policy is to distribute to the shareholders at least 50 per cent of the result for the financial period every year.



Comparable ROCE, %

Year % Target
2015 11.3 12
2016 8.1 12
2017 11.2 12
2018 14.4 12
2019 10.4 12

Net debt/comparable EBITDA, %

Year % Target
2015 1.2 2.5
2016 2.0 2.5
2017 1.2 2.5
2018 1.0 2.5
2019 1.1 2.5
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