CLX Communications AB (publ): new financial targets
May 19 2017 - 1:33AM
Stockholm, Sweden - CLX
Communications AB (publ) - XSTO: CLX
- announces that the Board of CLX Communications
AB (publ) have decided to set new financial targets for the
business.
The new financial targets are:
- Growth in adjusted EBITDA per share shall be 20
per cent per year, starting with calendar year 2016.
- CLX target is that net debt over time shall be
below two times adjusted EBITDA (measured on rolling twelve
months).
- Dividend policy - the Board continues to see good
growth opportunities through acquisitions over the next few years,
and therefore proposes that the company's earnings primarily are
reinvested.
Previous financial targets:
- CLX's objective is to achieve an organic revenue
growth of at least 20 percent per annum in the medium to long
term.
- CLX's objective is an EBIT margin of around 10
percent.
- CLX's capital structure shall enable a high
degree of financial flexibility and allow for acquisitions. CLX's
objective is a maximum net indebtedness of 2× EBITDA for the last
12 months.
- Dividend policy - CLX's objective is to
distribute at least 30 percent of net profit. CLX's financial
position, cash flow, acquisition opportunities and future prospects
will be taken into consideration by the board of directors when
proposing that CLX shall pay dividend.
For further information please
contact
Odd Bolin
Chief Financial Officer
CLX Communications AB (publ)
Phone:
+46 70 428 3173
E-mail
odd.bolin@clxcommunications.com
About CLX Communications
CLX Communications (CLX) is a leading global
provider of cloud-based communication services and solutions to
enterprises and mobile operators. CLX's mobile communication
services enable companies to quickly, securely and cost-effectively
communicate globally with customers and connected devices -
Internet of Things (IoT). CLX's solutions enable business-critical
communications worldwide via mobile messaging services (SMS), voice
services and mobile connectivity services for the IoT. CLX has
grown profitably since the company was founded. The Group is
headquartered in Stockholm, Sweden, and has presence in a
further 20 countries.
CLX Communications' shares are traded at NASDAQ
Stockholm - XSTO: CLX.
To learn more please
visit: www.clxcommunications.com
Important information
This communication may contain certain
forward-looking statements. Such statements are all statements that
do not relate to historical facts and include expressions such as
"believe", "estimate", "anticipate", "expect", "assume", "predict",
"intend", "may", "presuppose", "should" or similar. The
forward-looking statements in this release are based on various
estimates and assumptions that in several cases are based on
additional assumptions. Although CLX believes these assumptions
were reasonable when made, such forward-looking statements are
subject to known and unknown risks, uncertainties and other
important factors that are difficult or impossible to predict and
that are beyond CLX's control. Such risks, uncertainties and
important factors could cause the actual results to differ
materially from the results expressly or implicitly indicated in
this communication through the forward-looking statements. The
information, perceptions and the forward-looking statements in this
release apply only as of the date of this release and may change
without notice.
Every care has been taken in the
translation of this press release. In the event of discrepancies,
however, the Swedish original will supersede the English
translation. This information is information that CLX
Communications AB (publ) is obliged to make public pursuant to the
EU market abuse regulation and was submitted for publication under
the auspices of the above contact on 19 May 2017 at 07:30
CET.
170519 CLX definerar nya
finansiella mål_ENG_FINAL[1]
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: CLX Communications AB (publ) via
Globenewswire
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