VR-Group Plc has updated its long-term financial targets and dividend policy
VR-Group Plc, stock exchange release, 7 March 2023 at 09:30
VR-Group Plc has updated its long-term financial targets and dividend policy
The Board of Directors of VR-Group Plc has updated the group’s long-term financial targets and dividend policy.
New long-term leverage target is maximum of 3.0x (net debt to comparable EBITDA). The previous target was maximum of 2.0x in the long-term.
According to the updated dividend policy, the new long-term target is a stable profit distribution of approximately 50-80% of the previous year’s net profit added by debt free cash flow from possible real estate divestments. The previous long-term target was a stable profit distribution of approximately 60-80% of the previous year’s net profit.
The target for comparable return on capital employed was kept unchanged at minimum of 7.0 per cent.
VR-Group Plc
Board of directors
More information:
VR Group Media Desk, tel. +358 (0)29 434 7123
About VR-Yhtymä Oyj
We are a responsible service company in the fields of travel, logistics and maintenance and a forerunner in creating the future of mobility in Finland and in the neighbouring markets of the Nordic countries. We take care of smooth daily travel and transport, with experience gained over 160 years. While keeping society moving, we are increasing the popularity of electronic rail and urban transport. In this way, we increase well-being and transport you towards a carbon-neutral tomorrow.
Our company is owned by the State of Finland. In 2021, our net sales were EUR 838.3 million and we employed over 5,620 top professionals. On board our trains and buses, 83.9 million journeys were made, and we transported 42.7 million metric tonnes of goods. In addition, we expanded our operations to Sweden on 1 July 2022. Our subsidiary VR Sverige’s net sales are over EUR 300 million and the number of journeys made is about 110 million each year. At the same time, we welcomed 3,200 new colleagues.
We are actively seeking growth and we aim for the top in all of our operations. The better we succeed, the more society around us benefits – we are getting there together for a better world. Further information: https://www.vrgroup.fi/en
