Uponor Corporation     Stock exchange release     13 February 2019     08:15 EET

Uponor updates its long-term financial targets as a result of adoption of IFRS 16

As a result of adoption of IFRS 16 Leases standard as of 1 January 2019, Uponor converts its gearing target range from 30–70 to 40–80.

Uponor’s updated long-term financial targets are:

  • Organic net sales growth to exceed annual GDP growth by 3 ppts
  • EBIT margin to exceed 10%
  • ROI to exceed 20%
  • Gearing to stay within 40 to 80 as an annual average of the quarters
  • Dividend pay-out to be at least 50% of annual earnings  (considering the gearing target)

“We converted our gearing target range to reflect the impacts of IFRS 16. The ambition level remains unchanged,” comments Jyri Luomakoski, President and CEO, Uponor Corporation.

Uponor Corporation

Susanna Inkinen Vice President, Communications and Corporate Responsibility Tel. +358 20 129 2081

DISTRIBUTION: Nasdaq Helsinki Media www.uponor.com www.investors.uponor.com

Uponor in brief Uponor is a leading international systems and solutions provider for safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure. The company serves a variety of building markets including residential, commercial, industrial and civil engineering. Uponor employs about 4,000 employees in 30 countries, mainly in Europe and North America. In 2018, Uponor's net sales totalled nearly €1.2 billion. Uponor is based in Finland and listed on Nasdaq Helsinki. Uponor builds on you - www.uponor.com