Outlook for 2017 adjusted to reflect current group structure excl. India
|2017||YTD||2016 ex. India|
|Organic revenue growth||1-2%||0.2%||0.8%|
|EBITDA margin||Around 37%||37.6%||36.7%|
|Capex / sales||15-16%||14.9%||17.4%|
Organic revenue growth in fixed currency, adj. for acquisitions and disposals. EBITDA before other items.
Capex excl. licence fees.
Excluding India from the Group structure has approx. 1 pp positive effect on the Group’s EBITDA margin.
The impact on revenue growth and capex/sales is marginal.
Mid-term financial ambitions (2018-2020)
- Year-on-year low single-digit organic revenue growth
- Net opex reductions of 1-3% per year
- Capex/sales ratio around 15%, excl. licences
- Year-on-year growth in dividend