Operational
financial targets

In 2019, the Valora Group adopted a new corporate strategy and long-term operating targets until 2025 on the basis of the 2018 results:

  • External sales:
    on average
    + 2–3 % per year
  • Gross profit margin:
    on average
    +0.5 percentage points per year
  • EBIT margin:
    on average
    + 0.2 percentage points per year
  • Earnings per share:
    on average
    + 7 % per year

These targets remain valid. Nonetheless, Valora is expecting that the COVID-19 crisis which started in February and March 2020 will lead to the targets being reached 18 to 24 months later than originally planned.

With governments’ ongoing vaccination campaigns and the associated easing of restrictions, the pandemic situation eased noticeably from March 2021. As a result, the performance of Valora’s operating units was already close to pre-crisis levels in October 2021. The Omicron wave brought renewed restrictions to Valora’s business at the end of 2021 and start of 2022. As regards future business development, Valora nonetheless sees a continuation of the rapid recovery from March to October 2021 with the lifting of major restrictions.

Valora still expects EBIT of CHF 70 million (+/– ~10 %) for 2022 based on the 2021 results and outlook for a continued recovery. That implies a return to pre-crisis levels during the second half of 2022.

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