Financial targets and dividend policy

Both financial and sustainability goals benefit our strategy for profitable, cashflow-generating growth. A responsible business with stable finances and efficient resource use is essential for Munters to carry out its strategy.

Mid-term financial targets

Net sales growth

Annual organic, currency adjusted net sales growth of 5 percent, supplemented by selected add-on acquisitions.

In 2021 net sales grew +10% (+1) currency adjusted.

Adjusted EBITA-margin

An adjusted EBITA margin of 14 percent in the medium term.

In 2021 the adjusted EBITA-margin was 12.1 percent (12.9).

Capital structure

A ratio of consolidated net debt to adjusted EBITDA of 1.5x to 2.5x, which may temporarily exceed the target level (e.g., in connection with acquisitions).

In 2021 the ratio of consolidated net debt to adjusted EBITDA was at 2.2x (1.9x).

Dividend policy

According to the dividend policy adopted by the Board of Directors, Munters’ aim is to pay an annual dividend corresponding to 30-50 percent of net income for the year. The payout decision will be based on the company’s financial position, investment needs, acquisitions and liquidity position. There can be no assurances whether in any given year a dividend will be proposed or declared, however.

Dividend proposal 2021: 30 percent (SEK 0.85 per share, totaling MSEK 157).