Subject: RCN
Valmet adjusts its strategy to include Flow Control and aligns its financial targets with its financial reporting structure
HELSINKI, June 23, 2022 /PRNewswire/ --
Valmet Oyj's stock exchange release on June 23, 2022 at 16:30 p.m. EEST
Valmet's Board of Directors has decided to adjust Valmet's strategy to include Flow Control and align Valmet's financial targets with Valmet's financial reporting structure.
Valmet's strategy
Valmet's new strategy is: Valmet develops and supplies competitive and reliable process technologies, services and automation to the pulp, paper and energy industries. Our automation business covers a wide base of global process industries. We are committed to moving our customers' performance forward with our unique offering and way to serve.
Valmet's previous strategy was: Valmet develops and supplies competitive process technology, services and automation to the pulp, paper and energy industries.
We are committed to moving our customers' performance forward with our unique offering and way to serve.
Valmet's financial targets
As announced on April 27, 2022, Valmet consists of three reportable segments: Services, Automation and Process Technologies. Valmet's financial targets remain unchanged.
Valmet's financial targets are the following (previous targets in brackets):
- Net sales for Services and Automation segments to grow over two times the market growth (previously: Net sales for stable business to grow over two times the market growth)
- Net sales for Process Technology segment to exceed market growth (previously: Net sales for capital business to exceed market growth)
- Comparable EBITA: 12-14% (unchanged)
- Comparable return on capital employed (ROCE) before taxes: at least 15% (unchanged)
- Dividend payout at least 50% of net profit (unchanged)
Further information, please contact:
Pekka Rouhiainen, Director, Investor Relations, Valmet, tel. +358 10 672 0020
VALMET
Katri Hokkanen
Interim CFO
Pekka Rouhiainen
Director, Investor Relations
DISTRIBUTION:
Nasdaq Helsinki
Major media
Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries.
We aim to become the global champion in serving our customers. Our 17,000 professionals work close to our customers and are committed to improving our customers' performance - every day.
The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. In 2022, a major milestone was achieved when the flow control company Neles was merged into Valmet. The combined company net sales in 2021 was approximately EUR 4.5 billion based on the respective company figures.
Valmet's shares are listed on the Nasdaq Helsinki and the head office is in Espoo, Finland.
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