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​

2020
ACTUAl

2019
ACTUAL

2018
ACTUAL
​Comparable ROCE, %
​>12%
12.2%​10.4​%14.4%

Net debt/ Comparable
EBITDA
​<2,5x0,7x​​1,1x​1.0x


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
2020 12.2 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
2020 0.7 2.5
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