Financial objectives

EQUITY/ASSETS RATIO
Long time target: Maintain the strong equity ratio and low debt ratio.
Measurable target: Over 50 percent
Outcome 2021: 64 percent
Comment on outcome: The payout of dividend was resumed thanks to strong result and cash flow. 

DISTRIBUTION OF NET PROFIT
Long time target: Have a good return on capital for shareholders.
Measurable target: 30-50 percent
Outcome 2021: 48 percent (Based on total results for 20219 and 2020.)
Comment on outcome: The dividend was resumed thanks to strong earnings and cash flow.

YEARLY GROWTH
Long time target: Offset inflation within fixed costs through annual growth of production volume.
Measurable target: 3 percent
Outcome 2021: -4,2 percent
Comment on outcome: Pulp production was affected by unplanned stops and high electricity prices.

SHARE OF REVENUE SOURCES IN NET TURNOVER, NOT FROM PULP
Long time target: Reduce dependence on variations in pulp prices and the exchange rate by broadening the business base and increasing alternative revenue flows.
Measurable target: at least 10 percent in 2023. 
Outcome 2021: 7 percent
Comment on outcome: The share of revenue from other sources than pulp sales increased at the same time as total revenue increased by 10 percent.