Updated: 30.3.2012
ShareInvestors
Financials
Financial targets
Sanoma long-term financial target is to grow net sales faster than the growth of GDP in our main operating countries and to achieve an EBIT margin of 12%. We will target for a net debt to EBITDA ratio below 3.5 and an equity ratio within 35% to 45%.
| Long-term financial targets | Target level | 2007 | 2008 | 2009 | 2010 | 2011 |
| EBIT margin*, % | 12 | 10.4 | 9.8 | 8.3 | 8.9 | 8.7 |
| Net debt/EBITDA** | <3.5 | 1.6 | 2.1 | 1.8 | 1.5 | 3.2 |
| Equity ratio, % | 35–45 | 45.4 | 40.0 | 41.4 | 45.7 | 37.0 |
| Gearing, % | <100 | 58.2 | 78.5 | 79.4 | 63.8 | 105.7 |
| Investments/year, EUR million | <100 | 90.5 | 109.9 | 83.4 | 85.7 | 85.5 |
| Net sales growth, % | Faster than GDP growth in main operating countries | 6.7 | 3.5 | -8.7 | -0.2 | -0.5 |
| Dividend, % | Over half of Group result for the period distributed in dividends | 67.9 | 125.1 | 122.0 | 59.4 | 115.6 |
* Excluding non-recurring items
** As reported in the financial statements
