Vestum raises profitability target2021-08-18
The Board of Vestum AB (publ) ("Vestum"), listed on the Nasdaq First North Growth Market, has due to the expected profitability in the short- and medium-term that stems from the mix of acquired companies and the economies of scale achieved in organization and collaboration between the portfolio companies, today decided to raise the financial profitability target for the Group to achieve an adjusted EBITA-margin of at least 10.0 percent. The previous financial profitability target was to achieve an adjusted EBITA-margin of at least 8.0 percent. - Vestum has achieved a high degree of efficiency in the acquisition process and organization, which has enabled us to sign 14 acquisitions in a short period of time. With a proven acquisition model, the high acquisition rate will continue. The combination of high acquisition rate and strong profitability means that we are quickly establishing a very interesting platform from both an operational and financial perspective, says Conny Ryk, CEO of Vestum.
The Board's decision to raise the financial profitability target means that Vestum's financial targets are as follows:
- Growth
- Vestum's target is to annually make acquisitions that add pro forma revenue of at least SEK 2 billion and pro forma adjusted EBITA of at least SEK 200 million.
- Profitability
- Vestum's target is to achieve an adjusted EBITA-margin of at least 10,0 percent.
- Capital structure
- Vestum's target is that the financial net debt in relation to adjusted EBITDA should not exceed 4.0x on average over the past four quarters.
- Dividend policy
- All of Vestum's profits and available cash flows will be reinvested in the business and/or used for new acquisitions.
Responsible Party
This information is information that Vestum AB (publ) is obliged to make public pursuant of the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 17:31 CEST on August 18, 2021. For additional information, please contact:
Conny Ryk, CEO of Vestum AB (publ)
Phone: +46 70 775 53 10
E-mail: [email protected]
The following documents can be retrieved from beQuoted
Vestum-press-release-20210818.pdf About Vestum
Vestum is a Swedish acquisition-driven company focused on acquiring and developing specialist companies within the construction services and infrastructure industries. Vestum is actively looking for high-quality companies with proven business models, strong market positions and predictable cash flows where Vestum can be involved and contribute to continued positive development.
For additional information, please visit: www.vestum.se
Vestum's share is traded under the short name VESTUM on Nasdaq First North Growth Market and the company's Certified Adviser is G&W Fondkommission: phone: +46 (0)8 503 000 50, e-mail: [email protected].
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