Dec 15, 2023
Qt Group Plc updates the terms of its sharebased incentive program for key persons
The Board of Directors of Qt Group Plc has decided to update the terms of the company's share-based incentive program for key persons to reflect the company's long-term goals.
The incentive program to be updated was announced on February 17, 2022, and includes one reward collection period covering the years 2022-2024. Rewards in the program are determined by Qt Group Plc’s net sales in 2024. Rewards will start accumulating once the net sales for 2024 exceed EUR 240 million, and they then continue to increase in a linear manner up to a maximum value equivalent to 130,000 shares once net sales reach EUR 360 million.
The company announced its new long-term goals on October 26, 2023, indicating that the company’s targets for the new strategy period until 2027 are as follows:
- annual net sales growth of 20–30%, which means that the company will more than double its net sales over the next four years
- an operating profit margin (EBITA %) of at least 25%
In accordance with the change now made to the incentive program, rewards will start accumulating once the net sales for 2024 exceed EUR 210 million, and they then continue to increase in a linear manner up to a maximum value once net sales reach EUR 310 million. Otherwise, the terms of the incentive program remain unchanged.
Qt Group Plc
Board of Directors
Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040
Distribution:
Nasdaq Helsinki Ltd.
Key media
www.qt.io
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