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.

Metsä Board's dividend policy:

* to distribute to the shareholders at least 50 per cent of the result for the financial period every year.

INDICATOR

Return on capital
employed, comparable
%

TARGET >12%

ACTUAL 2018 14.4%

ACTUAL 2017 11.2%

ACTUAL 2016 8.1%

Net liabilities/
comparable EBITDA

TARGET <2.5x

ACTUAL 2018 1.0x

ACTUAL 2017 1.2x

ACTUAL 2016 2.0x

see also

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
Print