Tobii Dynavox revises financial targets

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Feb 21, 2024, 02:30 ET

STOCKHOLM, Feb. 21, 2024 /PRNewswire/ -- Tobii Dynavox AB, (publ) ("Tobii Dynavox") the world leader in assistive communication, today announced revised financial targets and dividend policy. According to the new targets, Tobii Dynavox expects to grow revenue on average by 20% yearly and deliver an EBIT margin that reaches and exceeds 15%.

The Board of Directors of Tobii Dynavox has revised the financial targets and dividend policy to better align with the company's current performance and outlook.

The updated financial targets, with a time horizon of 3-4 years are:

on average, grow revenue by 20% per year adjusted for currency effects, including contribution from acquisitions.
deliver an EBIT margin that reaches and exceeds 15%

The revised dividend policy is to distribute at least 40% of available net profits to shareholders in the form of dividends, share repurchases or comparable measures.

Fredrik Ruben, CEO of Tobii Dynavox comments: "Since we set our previous financial targets in 2021, the company and the market have continued to develop in a way that is favorable to us. Our financial position is strengthened, we are growing significantly faster than before, and we have solid confidence in our improving profitability trend. Entering this new phase in the company's development, distribution of profits to shareholders also becomes relevant."

More information about the revised targets will be given at the Capital Markets Day that Tobii Dynavox is hosting today, February 21, 2024 at 09:00 CET in Stockholm. A recording of the presentation along with all material will be published on our Investor Relations website on February 22.

For reference:
The previous targets that are now being replaced read:

To increase currency-adjusted revenue by more than 10% on average per year
To achieve and maintain an EBIT margin in excess of 15%
To maintain Net debt in relation to LTM EBITDA of 2.5x +/- 0.5x
Dividend Policy: "To primarily reinvest the Company's profit and use it for several growth opportunities identified by the Board in the near term (both organic and non-organic). The Board of Directors shall continuously evaluate the possibility of dividends, taking into account potential acquisition opportunities and other strategic initiatives."

This information is information that Tobii Dynavox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the agency of the contact person set out below, for publication at 08:00 CET, on February 21, 2024.

Contact

Linda Tybring, CFO, Tobii Dynavox, phone: +46 (0) 7068 14 980, email: [email protected]

The following files are available for download:

https://mb.cision.com/Main/11919/3932719/2618346.pdf

Press release Tobii Dynavox revises financial targets