As the current targets have been achieved, Proact’s financial objectives have been updated. These updated targets reflect the company's strategic direction and ambitions.
In order to ensure that Proact continues to meet its customers' needs and expectations, the company's future focus has been updated and clarified. The priority is to further develop the Group's cloud services, in parallel to improving IT infrastructure offerings, with associated consultancy and support services. Within cloud services, areas such as data storage, hybrid clouds, networking, security, applications, and automation are becoming increasingly important to Proact.
In these areas, the company will ensure market-leading offerings, where Proact as a partner to its customers offers high-quality services and solutions which quickly add sustainable and long-term value. Sales and delivery of the company's customer-focused services will lead to an increased proportion of contracted revenues in relation to the company's total revenues.
In order to achieve the updated targets Proact will, in parallel with ensuring organic growth, seek for acquisition opportunities in existing and new markets.
"Over the years, Proact has established a strong customer focus as well as specialist expertise in IT infrastructure and cloud services. Today we have a unique position in all our markets and we see a clear potential to increase the growth pace. The updated financial targets reflect the ambition of profitable growth, which will be achieved through a combination of organic growth and acquisitions”, says Jonas Hasselberg, President and CEO of Proact IT Group AB.
As a result of the above work in combination with the current financial targets achieved, the following new financial targets and policies have been established:
- The average total sales growth shall amount to at least 10 per cent per year.
- The company shall achieve an EBITA margin of 8 percent.
- The company's net debt in relation to EBITDA shall not exceed 2.
- Return on capital employed shall amount to at least 25%.
- The company has, unchanged, a policy of long-term dividend of 25-35 percent of profit after tax.
For further information, please contact:
Jonas Hasselberg, CEO, +46 722 13 55 56
Jonas Persson, CFO, +46 733 56 66 90
Peter Javestad, Investor Relations, +46 733 56 67 22
Proact is Europe’s leading independent data centre and cloud services provider. By delivering flexible, accessible and secure IT solutions and services, we help companies and authorities reduce risk and costs, whilst increasing agility, productivity and efficiency. We’ve completed over 5,000 successful projects around the world, have more than 3,500 customers and currently manage in excess of 100 petabytes of information in the cloud. We employ over 800 people in 15 countries across Europe and North America. Founded in 1994, our parent company, Proact IT Group AB (publ), listed on Nasdaq Stockholm in 1999 (under the symbol PACT).
For further information about Proact’s activities please visit us at www.proact.eu
The information is such information as Proact IT Group (publ) shall publish in accordance with lagen om värdepappersmarknad, the Securities Market Act, and/or lagen om handel med finansiella instrument, the Act on Trading in Financial Instruments. This information was submitted for publication on 11 December 2018 at 08:00 (CET).