Financial targets
In 2026, HAKI Safety reviewed its financial targets and, as a result, updated and clarified them in some parts. The updated targets reflect the Group's ambition to focus on profitable growth. The targets are considered both realistic and compatible with responsible risk-taking.
Growth over a business cycle >10%
Target: Annual sales growth over a business cycle should exceed 10 percent, driven primarily by organic growth and by bolt-on acquisitions.
Outcome 2025: SEK 1,179 million
Comments: Net sales for the year amounted to SEK 1,179 million (1,050), an increase of 12 percent year-on-year. A continued soft market affected performance during the year and organic sales decreased 2 percent. Acquisitions and divestments had a positive net impact on net sales of 17 percent. Exchange rate effects had a negative net impact on net sales of 3 percent.
Operating profitability of 10% in the short to medium term, >12% in the medium to long term
Target: Operating profitability, measured as the adjusted EBITA margin, should be 10 percent in the short- to medium-term and exceed 12 percent in the medium- to long-term. Adjusted EBITA margin is considered to provide a fair picture of the underlying business's profitability, as it excludes amortisation and write-downs of acquisition-related intangible assets, as well as non-recurring items.
Outcome 2025: 6.1 percent
Comments: Adjusted EBITA was SEK 72 million (77), corresponding to an adjusted EBITA margin of 6.1 percent (7.3), negatively affected by the market situation for the Scaffolding Systems business area during the first half of the year and the Work Zone Safety business area in the second half, but positively affected by acquisitions made in recent years.
Financial net debt in relation to adjusted EBITDA <2.5, which may be temporarily exceeded
Target: Financial net debt in relation to adjusted EBITDA should be less than 2.5, but may be temporarily exceeded due to acquisitions, for example. Acquisitions is an important part of HAKI Safety's growth strategy and may result in the ratio being exceeded at the time of the transaction, but it will decrease over time as profit is generated from the acquired business(es). The financial net debt refers to interest-bearing liabilities with deductions for cash and adjusted EBITDA as operating profit excluding depreciation, amortisation and write-downs and non-recurring items. The measures are measured excluding the effects of IFRS 16.
Outcome 2025: 2.6
Comments: Group financial net debt was SEK 346 million compared to SEK 380 million at the beginning of the year. The debt/equity ratio was 2.6 (2.8) and is affected by the acquisitions made in recent years.
Dividend policy
Target: The dividend is to amount to 25-50 percent of the year's net profit. Proposals for dividends will consider the shareholders' expectation of a reasonable dividend yield and the business's need for financing.
Outcome 2025: 42 percent
Comments: The Board of Directors proposed to the 2026 Annual General Meeting a dividend of SEK 0.50 per share (0.50). The dividend corresponds to 42 percent of net profit for the year.
