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ENG SVE

Financial targets

In line with the Group’s strategy, the Group has adopted the below financial targets to achieve in the medium-term.

During 2021 Norva24 achieved important milestones in line with set financial targets.

Well capitalized – on track to deliver on medium term financial targets

2021

Q4, 2021

Medium term financial targets

Operating revenue growth Organic growth

3.3%

9.4%

Target to achieve revenue of around

NOK 4.5 bn by 2025

while achieving an average organic growth per annum of at least in line with market growth

Total growth

33.0%

32.1%

Profitability

12.7%

13.9%

Target to achieve an
adjusted EBITA margin of

14-15% in the medium term

Capital structure

1.7x

1.7x

Norva24’s capital structure shall enable a high degree of financial flexibility and allow for aquisitions. Target steady state net debt ratio (including IFRS16 liabilities) of

2.5x adjusted EBITDA

for the last 12 months, temporary
increase for M&A

Dividend policy

As a part of Norva24’s vision and strategy, it intends to

reinvest cash flows into growth

and expansion initiatives, including aquisitions, and as such does not expect to pay annual dividents to its shareholders in the medium term