Uponor Corporation Stock exchange release 12 February 2013 8:02 EET
Uponor Board sets new long-term targets
Uponor’s Board of Directors has decided on new long-term targets for the company. The previous targets for 2007-2009 were not revisited prior to this, due to the turmoil in the business environment that started in the autumn of 2007. The Board presently feels that the economic and political climate in the geographies where Uponor operates is stabilising, although still fragile, making it meaningful to guide the company’s development through longer-term financial targets.
The new targets are based on the same criteria as before, and they are:
• Organic net sales growth to exceed annual GDP growth* by 3 ppts
• EBIT margin to exceed 10%
• ROI to exceed 20%
• Dividend pay-out to be at least 50% of annual earnings (considering the gearing target)
• Gearing to stay within 30 to 70 as an annual average of the quarters
* (GDP growth based on a weighted average growth in the top 10 countries)
The Board’s view is that the targets will help develop Uponor globally in a manner that secures faster than average industry growth and the necessary funding for future initiatives. For shareholders, the aim is to give them a stable return for their investment in the company.
Chairman of the Board, Jari Paasikivi comments:
Board of Directors
For further information, please contact:
Jari Paasikivi, Chairman of the Board, tel. +358 500 530 375
Jyri Luomakoski, President and CEO, tel. +358 20 129 2824
Vice President, Communications
Tel. +358 20 129 2852
NASDAQ OMX Helsinki
Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. In Northern Europe, Uponor is also a prominent supplier of infrastructure pipe systems. The Group employs approx. 3,000 persons, in 30 countries. In 2012, Uponor's net sales exceeded €810 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com.