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ITAB Shop Concept: ITAB establishes new financial targets

The Board of Directors for ITAB Shop Concept AB (publ) ("ITAB") has set new financial targets that support the Group's ambition to establish ITAB as the retail market's leading solution provider.

The financial targets for ITAB as established by the Board of Directors are:

Growth:
Average growth in net sales of 4-8 percent per annum over a business cycle. Growth is to be achieved by sustainable organic growth and strategic acquisitions.

Earnings:
Average EBIT margin (operating profit in relation to net revenue) of 7-9 percent over a business cycle.

Capital efficiency:
Average cash conversion ratio* of at least 80 percent over a business cycle.

Dividend policy:
As before, dividends over a longer period should follow the result and correspond to at least 30 percent of the company's profit after tax. However, dividends will be adjusted to the company's investment requirements and any share repurchase program.

* Cash conversion = Operational cash flow / EBITDA (operating profit before depreciation and amortization)

"ITAB is well positioned for the next step in the implementation of our strategy, where in the coming years we intend to establish ITAB as the retail market's leading solution provider. We build capabilities for more efficient and sustainable sales, purchasing and production with the ambition of increasing the proportion of services in our customer solutions. Over the past two years, we have carried out a number of important activities in the transformation of ITAB and are now ready to take the next step with clear financial goals that focus on sustainable growth and increased profitability," says Andréas Elgaard, President & CEO of ITAB.

Conference call on 8 February 2022 at 10:30 a.m. CET
ITAB arranges a conference call today, 8 February 2022 at 10:30 a.m. CET, in which Andréas Elgaard, President & CEO, and Ulrika Bergmo Sköld, CFO, present the Year-End Report for 2021 published earlier today and the new financial targets and answer any subsequent questions. Weblink and telephone numbers are available at https://financialhearings.com/event/43988.

Jönköping, 8 February 2022

ITAB Shop Concept AB (publ)

This information is such that ITAB Shop Concept AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU No. 596/2014). The information was submitted for publication, through the agency of the contact persons set out below, at 07:30 a.m. CET on 8 February 2022.
   This is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.

For further information, please contact:

Andréas Elgaard, President & CEO
Telephone: +46 732-32 16 35

Mats Karlqvist, Head of Investor Relations
Telephone: +46 70 660 31 32

ITAB Shop Concept AB (publ), Box 9054, SE-550 09 Jönköping, Sweden
itab.com, itabgroup.com

Source: Cision
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