Financial targets

AcadeMedia’s overall goal is to deliver the best educational quality in the areas where the Group operates. This quality is also the key to reaching the financial targets.

Revenue growth
AcadeMedia’s goal is for the Group’s sales growth to reach 5–7 percent a year, excluding larger acquisitions. AcadeMedia intends to grow by using the available capacity at existing units and by launching new units. AcadeMedia also intends to continue to grow by taking over education units and to drive consolidation in the market through acquisitions.

Profitability
AcadeMedia’s financial goal is an EBIT excluding items affecting comparability of 7–8 percent of sales over time.

Capital structure
AcadeMedia’s goal is to have interest-bearing net debt in relation to operating profit before depreciation and amortization (EBITDA) excluding items affecting comparability with a maximum factor of three. During brief periods there may, however, be deviation from this goal, for example in the event of larger acquisitions.

Dividend policy
AcadeMedia’s first responsibility is to provide a good education for the remuneration received. This must be done as efficiently as possible. AcadeMedia’s unrestricted cash flow will primarily be reinvested in the Company’s operations in order to maintain high quality and finance future growth. The surplus may be distributed to the shareholders provided that AcadeMedia’s quality and financial targets are met.