Financial targets
– Double-digit organic growth in constant currency
– EBITDA Margin less capitalized development cost > 10%
– NET DEBT / EBITDA <3.0x
Financial targets framework
– Introduced during the Capital Markets Day in November 2022 and valid from 2023
– Reiterated during Capital Markets Day in September 2024
– Updated long-term Financial Targets to be defined after achievement of current targets
– Growth target captures market growth opportunities
– Margin target secures focus on profitability including total R&D spending and enables positive cash flow excluding acquisition-related items
– Net Debt target enables flexibility in future financing alternatives
