New targets: >8% org. growth, >12% EBITA margin, >15% ROCE
Growth and margin targets imply 15%/12% upside to '26e ABGe/IR cons
CMD at 13:00 CET, webcast link here
New targets presented ahead of CMD
Nolato presents new financial targets ahead of its Capital Markets Day today at 13:00 CET (webcast link). The company aims for 1) organic growth excceding 8% per year over a business cycle (no prior growth target), an EBITA margin exceeding 12% over a business cycle (up from >10%); the '24 EBITA margin was 9.9%, and we have 10.6-11.0% for '25e-'27e, and 3) a ROCE exceeding 15% over a cycle (no prior ROCE target); the '24 ROCE was 12.4% and we have 13.5-13.8% for '25e-'27e. The dividend policy (>50% of EPS) is kept unchanged, while the prior targets of 35% equity/assets and 75% FCF/EBIT are removed in favour of the mentioned growth and ROCE targets.
Finwire
March 13, 2025 - 08:53