New Wave Group AB updates financial targets and increase the operating margin target from 15 to 20%

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Feb 20, 2024, 01:13 ET

GOTHENBURG, Sweden, Feb. 20, 2024 /PRNewswire/ -- Today, New Wave Group AB (publ) has updated its financial targets. The targets are being updated to reflect New Wave Group's strategic priorities regarding profitability and financial stability in combination with previously established growth target.

Updated financial goals

New Wave Group's board of directors has adopted the following financial targets, implying an increase in the operating margin and equity targets:

New Wave Group strives for sustainable and profitable sales growth through expansion in its three operating segments: Corporate, Sports & Leisure and Gifts & Home Furnishings. Over a period of one business cycle, the Group's growth target is between 10 and 20% per year, of which between 5 and 10% is organic growth, and a 20% operating margin (previously 15%). In addition, New Wave Group has an equity ratio target meaning that the equity ratio should not fall below 40% (previously 30%) over one business cycle.

Capital markets day

Later today, in connection with its capital market day, New Wave Group will present the company's updated financial targets and its strategic priorities.

Gothenburg on 20 February 2024

For further information, please contact:
CEO and Group CEO
Torsten Jansson
Phone: +46 (0) 31 712 89 01
Email: [email protected]

CFO
Lars Jönsson
Phone: +46 (0) 31 712 89 12
Email: [email protected]

This information is information that New Wave Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons detailed above, at 7.00 a.m. CET on February 20th, 2024.

The following files are available for download:

https://mb.cision.com/Main/932/3931633/2614245.pdf

Press release (PDF)

SOURCE New Wave Group