Financial targets

In February 2016, Fortum updated its long-term financial targets along new strategy.
Fortum's financial targets give guidance on Fortum's view of the company's long-term value creation potential, its new growth strategy and business activities.
The updated, long-term over-the-cycle financial targets are:
-    Return on capital employed (ROCE) at least 10%
-    Comparable net debt to EBITDA around 2.5 times.

In addition, Fortum also uses the applicable Global Reporting Initiative (GRI) G3.1 indicators for reporting economic responsibility.

The previous long-term financial targets were: return on capital employed (ROCE) 12%, and comparable net debt to EBITDA around 2.5 times.
Fortum's dividend policy remains unchanged: Its target is to pay a stable, sustainable and over time increasing dividend of 50-80% of earnings per share excluding one-off items.