We have set the following strategic priorities, which will support us in realizing our targets:
- Capture profitable growth opportunities;
- Apply activity-based field steering to drive commercial excellence and productivity to ensure adaptability;
- Focus on segment-specific delivery, where necessary modifying our delivery models for clients;
- Further improve our business mix: Focus on SMEs, Professionals and permanent placements;
- Achieve an efficient cost structure and drive conversion of gross profit into EBITA;
- Maintain capital discipline: through a simplified EVA method, operating companies are charged for their use of operating working capital.
To further guide this process, we have formulated the following financial targets:
- EBITA margin of 5% to 6% over time, through revenue growth and mix improvement;
- Continuous profitable market share gains;
- A sound financial position with a leverage ratio between 0 and 2.
Our dividend policy aims at a payout ratio of 40%-50% of adjusted earnings per share. We aim at a payout ratio of 40%, unless our financial position allows for a higher payout. In 2015 a full cash dividend was paid, however our policy retains the option to revert back to offering a choice between shares and cash as we have done in previous years.
For more information, please see our annual report.