Financial targets

AcadeMedia’s target for sales growth is 5–7 percent annually for the Group, excluding major acquisitions.

AcadeMedia’s profitability target for operating profit (EBIT) excluding items affecting comparability should amount to 7–8 percent over time.

AcadeMedia’s target is to for net interest-bearing debt to be no more than three times operating profit before depreciation and amortisation (EBITDA) excluding items affecting comparability. During brief periods, however, deviation from this target may occur, such as in the case of major acquisitions.

AcadeMedia’s purpose is to provide quality education for the funding received. AcadeMedia’s free cash flow will primarily be reinvested in the business in order to maintain high quality and to finance future business development and growth. The Board of Directors deem that AcadeMedia should maintain a strong balance sheet and thereby high financial stability. Surplus may be distributed to the shareholders provided that AcadeMedia in all material respects meets its targets relating to quality and financial position. This can be done through dividend and/or through redemption of shares or similar methods provided all AcadeMedia’s shareholders are treated equally. AcadeMedia aims to distribute 30 percent of annual profits after tax as dividends.