Financial targets and framework

Clas Ohlson’s financial targets include organic growth of 5 per cent. From the 2020/21 financial year, the set target is to reach an operating margin of 6-8 per cent. In addition, net debt in relation to EBITDA is to fall below two times and the dividend is to comprise at least 50 per cent of earnings per share after tax considering the financial position.

Growth

Sales will increase organically an average of 5 per cent annually over a five-year period. Online sales to double every other year

In 202/21 sales declined by 5 per cent to 8,284 MSEK (8,758). Organic sales declined by 1 per cent compared with the preceding year. Sales in comparable units and local currency decreased by 1 per cent. Online sales increased by 60 per cent to 894 MSEK (558).

Profitability

Operating margin will amount to 6-8 per cent within a five-year period. The aim for 2019/20-2020/21 has been to deliver an operating margin of 4-6 per cent, excluding the effects of IFRS 16.

In 2020/21 the operating margin was 7.3 per cent (6.3). IFRS 16 had a positive effect on operating margin of 0.9 (1.1) of a percentage point.

Financial position

Net debt in relation to EBITDA to fall below two (2) times. Investments are being planned as regards financial position, cash flow and strategic activities

In 2020/21 , net debt in relation to EBITDA excluding the effect of IFRS 16 was -0.7 times (0.0). Net debt in relation to EBITDA including IFRS 16 amounted to 1.1 times (1.8)

Dividend policy

The dividend is to comprise at least 50 percent of earnings per share after tax, considering the company’s financial position.

In 2021 the AGM approved the Board’s proposal for the disposition of the profits and the proposed dividend to shareholders of 6.25 SEK per share which will be divided into two payments, in September 2021 and January 2022.

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