Alleima has four long-term financial targets.
|Organic growth||Deliver profitable organic revenue growth in line with or above growth in targeted end markets over a business cycle|
|Earnings||Adjusted EBIT margin1 to average above 9% over a business cycle|
|Capital structure||Net Debt2 in relation to Equity below 0.3x|
|Dividend policy||Dividend on average 50% of profit for the period (adjusted for metal price effects3) over a business cycle. Dividends to reflect the financial position, cash flow and outlook|
|1) Adjusted EBIT margin is defined as adjusted EBIT (EBIT excluding items affecting comparability and metal price effects) as a percentage of revenues
2) Net debt is defined as interest-bearing current and non-current debts, including net pension and leasing liabilities, less cash and cash equivalents
3) Metal price effects is defined as the metal price effects on the operating profit in a particular period from changes in alloy prices arising from the timing difference between the purchase, as included in cost of goods sold, and the sale of an alloy, as included in revenues, when alloy surcharges are applied