| Year | Percent |
|---|---|
| 2019: 3% | 3 |
| 2020: -2% | -2 |
| 2021: 10% | 10 |
| 2022: 63% | 63 |
| 2023: -3% | -3 |
Financial targets
Billerud has financial targets for growth and profitability, coupled with principles governing the company’s indebtedness and dividends to shareholders.
See also: Financial data and key figures
The target is for net sales to increase by 3–4% per year. The 2023 outcome was –3% so the target was not reached. Net sales excluding currency effects, the acquisition of Verso on 31 March 2022 and the divestment of Managed Packaging on 31 August 2023, declined by 7%, due to lower sales volumes and negative mix and price changes.
3
Target 3-4%
-3
Outcome -3%
The target is an EBITDA margin above 17%. This was not achieved in 2023 as the EBITDA margin was 8%. Profit deteriorated due to lower sales and higher costs for raw materials, only partially offset by positive impact from the efficiency enhancement program and reduced negative impact of scheduled maintenance.
17
Target >17%
8
Outcome 8%
The interest-bearing net debt in relation to EBITDA should be less than 2.5. The ratio rose from a very low level in 2023, mainly because of the lower EBITDA, but also due to increased debt. At the end of 2023, the ratio was 1.8, well below the target level.
2.5
Target < 2.5
1.8
Outcome 1.8
The policy is to issue a dividend to shareholders of more than 50% of the net profit. The proposed dividend for 2023 of SEK 2.00 per share is in line with this policy. The proposed dividend corresponds to 103% of the net profit and 65% of the adjusted net profit for the year.
50
Target >50%
103
Outcome: 103%