Financial targets 2016

The financial targets will be reviewed and redefined during 2016.

The Stockmann Group's long-term financial targets were originally set in 2008 in a different business climate. Due to the insecure long-term market outlook, the Board of Directors has during the summer 2013 decided to replace the targets with new medium-term financial targets. The earlier targets,  which were set to be reached by the end of year 2016 were:

  • a 10 per cent return on capital employed (ROCE)
  • a 7 per cent operating profit margin
  • a sales growth above the industry average and
  • a 40 per cent equity ratio (already achieved)

Achievement of financial targets

 

Return on capital employed

EBIT% on revenue

Sales growth

Equity ratio

Actual 2013 3.4% 2.7% Weaker than industry average 43.8%
Targets 2013,
up to 2016
10% 7% Above industry average 40%
Actual 2012 5.1 % 4.1 % In line with industry average 42.8 %
Actual 2011 4.1% 3.5%

Achieved

42.2%

Actual 2010

5.8%

4.9%

In line with industry average

43.1%

Targets 2010,
up to 2015

 Minimum 20%

Minimum 12%

Above industry average

 Minimum 40%

Actual 2009

5.8%

5.0%

In line with industry average

44.1%


Actual 2008


8.3%


6.5%

In line with industry average


39.0%

Target set 2008,
up to 2013

20%

12%

Above industry average

At least 40%

Actual 2007

12.1%

9.0%

In line with industry average

32.6%

Actual 2006

22.9%

10.0%

In line with industry average

74.5%

Target set 2006,
up to 2011

22%

10%

Above industry average

At least 50%

Actual 2005

19.6%

6.7%

Achieved

66.4%

Target set 2005,
up to
2010

At least 20%

At least 8%

Above industry average

At least 50%

Actual 2004

14.3%

4.9%

Achieved


 

Actual 2003

13.2%

4.7%

Achieved


 

Actual 2002

12.6%

4.7%

Achieved


 

Actual 2001

9.8%

3.6%

Achieved


 

Target set 2001

At least 15%

At least 5%

Above industry average

 

Stockmann's Board of Directors has set the dividend payout target over half of the earnings derived from the company's ordinary operations. The financing required to grow operations is nevertheless taken into account in determining the dividend.