Financial Targets and Dividend Policy

The board of Cheffelo has adopted the following financial goals in the short to medium term:

Growth

The Group’s objective is a long-term Net sales CAGR of 6-8%

Profitability

The Group’s objective is to achieve a long-term EBIT margin of approximately 4–6%.

Dividend policy

Cheffelo dividend policy is meant to provide shareholders with a dividend that offers a good direct return while giving the company the opportunity to invest in strategic growth opportunities.

The target dividend over time should amount to at least 50% of Cash flow from Operating activities less CAPEX and lease amortization.