Group and business area targets
Return on capital employed
TARGET
The Group’s overall profitability target is to achieve a return on capital employed of 13% over a business cycle. The target is 30% for Personal Care, 15% for Tissue and to be in the top quartile of the industry for Forest Products.
Group
13%
Personal Care
30%
Tissue
15%
Forest Products
Top quartile of the industry
OUTCOME 2015
Group
12%
Personal Care
29%
Tissue
13%
Forest Products
7%
Return on capital employed
Excluding items affecting comparability.
2012 and 2013 restated in accordance with IFRS 10 and 11.
The Group’s return on capital employed, excluding items affecting comparability, was 12%. The return on capital employed, excluding items affecting comparability, was 29% for Personal Care and 13% for Tissue. The return on capital employed, excluding items affecting comparability, for Forest Products was 7%.
Growth
TARGET
SCA’s target for annual organic sales growth for Personal Care is 5–7%, while the target for Tissue is 3–4%. For Forest Products, the target is to grow in line with the market.
Personal Care
5–7%
Tissue
3–4%
Forest Products
Grow in line with the market
OUTCOME 2015
Group
5%
Personal Care
7%
Tissue
5%
Forest Products
3%
The Group’s organic sales growth amounted to 5%. Organic sales growth was 7% for Personal Care and 5% for Tissue. Organic sales growth for Forest Products amounted to 3%.
Capital structure
TARGET
SCA’s target is to have an effective capital structure at the same time that the long-term access to debt financing is ensured. Cash flow in relation to net debt shall take into account the target to maintain a solid investment grade rating.
OUTCOME 2015
SCA had a solid investment grade rating.