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Financial Targets and Policies
  • Dividend
    • Dividend DKK 9 per share (DKK 3.8 billion in total) to be paid for FY 2017, an increase of 50% vs. FY 2016

    • Objective is to increase dividends by a high single-digit rate compared to the dividends for the previous year up until 2020

    • Objective of maintaining a BBB+/Baa1 rating profile 
  • FFO/Adjusted Net Debt

    Our financial policy is to have an FFO to adjusted net debt of around 30%.

    Please refer to the Annual Report for the definition and calculation of FFO and adjusted net debt.

  • Rating
    Our financial policy is to maintain a minimum rating of BBB+ / Baa1
  • ROCE

    We expect an average ROCE for the Group of 12-14% in the period from 2018 to 2023.

    Please refer to the Annual Report for the definition and calculation of ROCE.

Financial Outlook
  • EBITDA
    Business Performance EBITDA excl. new WP partnerships for 2018 is expected to total DKK 12-13bn.
  • Gross investments
    Gross investments for 2018 are expected to amount to DKK 16-18bn.

General meeting

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Analysts and estimates

Equity analysts, consensus estimates and recommendations