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A description of the company’s system of variable remuneration to the Board and Executive Management, and of each outstanding share and share-pricerelated incentive scheme can be found in note G4 in the Annual Report.

View note G4 in the Annual Report 2022

Guidelines for executive remuneration

For more information on executive remuneration, see Guidelines for the Remuneration of Senior Executives, adopted by the Annual General Meeting 2020.

Short-Term Incentive (STI) 2024 for Senior Executives

Variable cash remuneration to senior executives is conditional upon the fulfillment of defined and measurable criteria. At the beginning of each year the Board of Directors and the Remuneration Committee establish the criteria, including key performance indicators (KPIs) and the target ranges, deemed relevant for the upcoming performance period.

For the Short-Term Incentive (STI) 2024 it has been decided that the President and Group Function heads shall be measured on Group level KPIs and the Business Area Presidents shall be measured on both Group level and a combination of Business Area level KPIs (the KPIs vary slightly between the Business Areas). The KPIs that form the basis for STI 2024 are the following:

  • Revenue Growth
  • Adjusted EBITA margin
  • Earnings Per Share (EPS)
  • Cash Conversion Rate (CCR)

The extent to which the criteria for awarding STI have been fulfilled shall be determined after the expiry of 2024.