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2014-11-27 14:29:04 CET 2014-11-27 14:30:01 CET REGULATED INFORMATION Outotec Oyj - Company AnnouncementOutotec's new long-term financial targets and existing 2020 sustainability targetsOUTOTEC OYJ STOCK EXCHANGE RELEASE NOVEMBER 27, 2014 at 3.30 PM OUTOTEC'S NEW LONG-TERM FINANCIAL TARGETS AND EXISTING 2020 SUSTAINABILITY TARGETS Outotec's Board of Directors has today revised the company's long-term financial targets to better reflect the current market environment. New long-term financial targets * Sales growing faster than the market * Based on several market institutes' estimates, metals demand is expected to grow on average 3-6% per annum in line with global GDP growth. * Annual average service sales growth 10-20% * EBITA margin (excluding onetime costs) 10% in 3-5 years time * Dividends on average 40% of annual net income * Potential mergers and acquisitions may impact the payout of dividends. * Gearing at maximum 50% Previous long-term financial targets set in 2010 and 2012 and Outotec's performance * Annual average sales growth of 10-20% * In 2010-2013, Outotec's average growth rate was 25.4%. * Service sales EUR 500 million by the end of 2015 (target set in 2010) * Target was achieved in 2013. * Service sales EUR 1 billion by the end of 2017 (target set in 2012) * In 2010-2013, Outotec's average service sales growth rate was 21.4%. * Operating profit margin from business operations on average 10% * In 2011-2013, the average of 8.9% was reached. * Dividend policy at least 40% of annual net income * For years 2011-2013, Outotec has paid 43.9% dividends on average. * Maintaining strong balance sheet * In 2011-2013, Outotec has been net cash positive. Reiterating 2020 sustainability targets set in 2012 and 2013 * Share of Environmental Goods and Services in Outotec's order intake permanently over 90% (87% in 2013) * 50% reduction in fresh water consumption per 1 tonne of ore in non-ferrous metals concentrators delivered by Outotec * Customers generate 20% less CO(2) emissions through Outotec's metals-related technologies * 5% improvement in Outotec's employee engagement and performance enablement indices For further information please contact: OUTOTEC Mikko Puolakka, CFO Tel. +358 20 529 211 Email: firstname.lastname@outotec.com DISTRIBUTION: NASDAQ OMX Helsinki Main media www.outotec.com [HUG#1874856] |
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