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Financial targets, mid-term

Growth

Balco shall achieve growth of 10% per year.

Capital structure

Interest-bearing net debt shall not exceed 2.5 times operating profit before depreciation and amortisation (EBITDA), other than temporarily.

Profitability

Balco shall achieve an operating profit margin (EBIT) of at least 13 percent.

Dividend policy

Balco shall distribute at least half of profits after tax, taking into consideration needs for Balco’s long-term growth and prevailing market conditions.