Financial Objectives
Here you can find FLSmidth's short and long-term financial guidance.
Outlook for 2012
In 2012, FLSmidth & Co. A/S still expects consolidated revenue of DKK 24-26bn exclusive of acquisitions (2011: DKK 22bn), an EBITA ratio of minimum 10% (2011: 10.9%) and an EBIT ratio of 9-10% (2011: 9.9%).
The effect of purchase price allocations (exclusive of acquisitions) is expected to be around DKK 220m in 2012 (2011: DKK 178m).
Cash flow from investing activities (exclusive of acquisitions) is expected to be around DKK -900m in 2012 (2011: DKK -733m) due to the investment in eight supercenters and the expansion of own manufacturing in India and China.
The effective tax rate is expected to be 30-32% in 2012 (2011: 31%) and payable tax slightly lower.
Each of the four new divisions and Cembrit are expected to see the following developments in 2012:
New financial targets
In connection with the launching of a new Group strategy new long-term financial goals for the FLSmidth Group subject to normalisation of the markets are being announced:
| Annual growth in revenue: |
|
|
Above the market average |
| Operating profit before amortisation (EBITA margin): |
|
|
10-13% |
| Tax rate: |
|
|
30-32% |
| Equity ratio: |
|
|
>30% |
| Financial gearing NIBD/EBITDA: |
|
|
<2 |
| Pay-out ratio: |
|
|
30-50% of the profit for the year |
| Cash flow from investing activities (exclusive of acquisitions) |
|
|
DKK -700m to -900m |