Financial targets and framework

Sales

Clas Ohlson targets to achieve an annual organic sales growth of 5% per year.

In the 2022/23 financial year, total sales increased 3 per cent to 9,024 MSEK (8,784). Organic sales increased by 1 per cent compared with the preceding year. Online sales increased by 9 per cent to 1,054 MSEK (971).

Operating margin

The operating margin is to amount to between 7-9 per cent per year.

In the 2022/23 financial year, the operating margin was 3.4 per cent (8.2). Excluding non-recurring costs related to the closure of the operations in the UK, disposal of IT systems and organisational changes operating margin was 5.1 per cent.

Dividend policy

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

For the 2022/23 financial year, the Board of Directors proposed a dividend of 1.50 SEK per share (6.75). The total dividend for the 2021/22 financial year, including an extra dividend of 6.25 SEK per share, amounted to 13.00 SEK per share. The proposed dividend amounts to a total of 98 MSEK (853), representing 54 per cent (163) of the financial year’s profit after tax.

The Board’s proposal for the disposition of the profits was approved by the AGM and the proposed dividend to shareholders of SEK 1.50 per share was approved. The record date was set as 12 September 2023. Payment of the dividend is expected to be made from Euroclear Sweden AB on 15 September 2023.

Net debt/EBITDA

Net debt in relation to EBITDA, excluding the effect of IFRS 16, to be below two (2) times. Investments are to be made with regards to the company’s financial position, cash flow and strategic activities.

In the 2022/23 financial year, excluding the effect of IFRS 16, net debt in relation to EBITDA was 0.2 times (-0.5)