CLX Communications AB (publ): new financial targets
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
Chief Financial Officer
CLX Communications AB (publ)
Phone: +46 70 428 3173
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
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.