Overall financial objective: Growth in earnings per share

Financial objectives

It is Net Gaming’s assessment that strong growth in earnings per share is the best measure for creating shareholder value over time.

Growth in earnings per share

Net Gaming’s target is to, over time, increase earnings per share with an average of at least 20% per year. Annual growth in earnings per share is the overall financial objective. It is Net Gaming’s assessment that strong growth in earnings per share is the best measure for creating shareholder value over time.

Organic revenue growth

Net Gaming’s long-term target is organic revenue growth in the range of 15 to 25%.
Net Gaming will continuously invest in the core business and new internal growth initiatives to ensure strong and sustainable organic growth. The time when growth initiatives bear fruit may vary, which means that organic growth may fluctuate over time.

It should be noted that Net Gaming’s definition of organic growth in the future will be based solely on net sales compared with the previous period, excluding acquisitions (last 12 months) and divestments, and exchange rate movements.

Capital structure

Net Gaming’s long-term target is a maximum net debt/EBITDA ratio of 2.0 over time.

Net Gaming will conduct operations at low financial risk over time by means of low net debt. The Board is entitled to derogate from this objective during periods when this is considered best for the Company and for shareholder value.

Dividend

To prioritise acquisitive growth, internal growth projects and capital structure above dividends during the next three years.