Financial targets

Metsä Board 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 target, the ratio of net liabilities to comparable EBITDA is a maximum of 2.5.

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 per cent a year.

 

 

​IndicatorTarget​​Actual
2018
​Actual
2017
Actual
2016​
​Return on capital employed, comparable, % ​>12%14.4%​​11.2%​8.1%
​Net liabilities / comparable EBITDA​<2.5x1.0x​​1.2x​2.0x
​Growth in paperboard deliveries, % ​Annual growth in paperboard deliveries exceeds the relevant market growth​2%​15%​12%

 

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.

The information below will be updated half-yearly.

see also

Annual growth in total paperboard deliveries, %

Year % Target
2014 10 5
2015 13 5
2016 12 5
2017 15 5
2018 3 2

Comparable ROCE, %

Year % Target
2014 9.1 12
2015 11.3 12
2016 8.1 12
2017 11.2 12
2018 14.4 12

Net debt/comparable EBITDA, %

Year % Target
2014 1.8 2.5
2015 1.2 2.5
2016 2.0 2.5
2017 1.2 2.5
2018 1.0 2.5
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