KISTA, Sweden, May 21, 2024 /PRNewswire/ -- Munters has increased its financial mid-term target for net sales growth and updated its strategic sustainability targets, including a commitment to the Science Based Targets initiative (SBTi). The net sales growth target and the strategic sustainability targets will be presented more in detail today at the Capital Markets Day (CMD).
New mid-term financial target for net sales growth:
an average annual total net sales growth of more than 14 per cent over a business cycle.
Previous mid-term financial target for net sales growth:
an average annual organic net sales growth of 10 per cent over a business cycle.
Munters is positioned towards markets with strong underlying growth, such as the data center cooling market, the battery market, clean technologies and digital solutions for the food industry. For the coming years, Munters anticipates a new growth wave with net sales to be driven by organic as well as M&A driven growth. Therefore, Munters is now committing to a new total net sales growth target.
"Munters is well positioned and in a growth phase, building on major achievements in recent years. With continued investments for growth and an increased focus on our M&A agenda, I am confident we will continue on a strong growth trajectory over the coming years," says Klas Forsström, President and CEO of Munters.
In addition, Munters has set strategic sustainability targets which include taking the next step in future proofing the company in line with the ambitions of the Paris Agreement. Munters has therefore committed to setting near-term emission reductions in line with the SBTi. By committing to the SBTi, Munters will have the previously set targets for Scope 1 and 2 validated and set new targets for Scope 3.
"Our new strategic sustainability targets and commitment to the SBTi underline our firm ambition to accelerate our sustainability agenda. Through these ambitious climate goals, we not only reinforce our own commitment but also aim to inspire the rest of the industry to move towards a more sustainable future," says Klas Forsström.
New strategic sustainability targets 2030:
Reduce CO2e emissions: Scope 1&2: Net zero, and Scope 3: reduction in line with the Paris agreement 1.5°C.
Gender equity: Women in Workforce & Women leaders to reach 30%.
Code of Conduct: Continuous improvements in compliance with Munters Codes of Conduct, targeting 100% compliance for the Employee Code of Conduct, 100% for the Supplier Code of Conduct* and a continuous increase in compliance of the Customer Code Conduct.
Munters mid-term financial targets:
An annual average total net sales growth of more than 14 per cent over a business cycle. (updated)
An adjusted EBITA-margin above 14 per cent. (unchanged)
Average (LTM) operating working capital in the range of 13-10 per cent of net sales. (unchanged)
Dividend policy: Munters aim to pay an annual dividend corresponding to 30-50 per cent of its consolidated income after tax for the period. (unchanged)
At the CMD held today, President and CEO Klas Forsström, and other members of the Group Management Team, will present the company's business, strategy and future priorities.
All participants joining digitally will be able to ask written questions via the webcast.
The agenda starts at 12:00 CEST with a reception featuring a light lunch. The presentations and the live webcast are to begin at 13:00 CEST (12:00 pm BST in London, 07:00 am EDT in New York), anticipated to end by approx. 16:30 CEST. Throughout the day visitors will have the opportunity to explore our offering as well as talk to several experts.
For more information, please contact: Investors and analysts Ann-Sofi Jönsson, Vice President, Investor Relations & Group Risk Management E-mail: ann-sofi.jonsson@munters.com, Phone: +46 (0)730 251 005
Media Eva Carlsson, Director External Communications E-mail: eva.carlsson@munters.com, Phone: +46 (0)70 88 33 500
*Direct material suppliers
This information is information that Munters 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 set out above, at 08.00 AM CEST on May 21, 2024.
About Munters Group Munters is a global leader in energy-efficient air treatment and climate solutions. Using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries. Munters has been defining the future of air treatment since 1955. Today, around 5,000 employees carry out manufacturing and sales in more than 30 countries. Munters Group AB reported annual net sales of more than SEK 14 billion in 2023 and is listed on Nasdaq Stockholm. For more information, please visit www.munters.com.
