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Uponor Financial Review 2020 Why Invest in Uponor

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Uponor Financial Review 2020 Why Invest in Uponor Financial Review 2020 Uponor’s Annual Report 2020 consists of an Annual Review and a Financial Review, which are Contents published as separate PDF documents and can be found on our website. You are now reading the Financial Review 2020, which covers the Report by the Board of Directors, Financial Statements for 2020 and Auditor’s report. The Financial Review also includes Financial Review 2020: information for investors. Corporate Governance Statement and Remuneration Report are Investor Relations at Uponor ................................................................................2 published as separate PDF documents on our website. The Annual Review consists of the key Why invest in Uponor .................................................................................................3 topics of Uponor’s business and sustainability in 2020. Information for shareholders .............................................................................. 4 Shareholder value development ..................................................................... 5 Board of Directors ....................................................................................................... 6 Investor Relations at Uponor Executive Committee ................................................................................................7 Review by the Board of Directors ..................................................................... 8 Enquiries Change of address [email protected] Shareholders are requested to notify their Group key financial figures ..........................................................................16 custodian bank, their brokerage firm, or Items affecting comparability and reconciliations to IFRS ... 17 Meeting requests any other financial institution responsible Share-specific key figures ..........................................................................18 Päivi Dahlqvist, Executive Assistant for maintaining their book-entry securities Definitions of key ratios ...................................................................................19 Tel. +358 (0)20 129 2823 account of any changes in their mailing Shares and shareholders .............................................................................20 [email protected] address. Consolidated financial statements (IFRS) ..............................................21 Other IR contacts Disclosure policy Consolidated statement of comprehensive income ................21 Minna Yrjönmäki, CFO Information on Uponor’s disclosure policy Consolidated balance sheet .....................................................................22 Tel. +358 (0)20 129 2036 is available on our investor website at Consolidated cash flow statement ......................................................24 [email protected] investors.uponor.com > Governance > Statement of changes in shareholders’ equity ............................25 Disclosure Policy. Susanna Inkinen, VP, Communications Notes to the consolidated financial statements .........................26 and Corporate Responsibility Group Communications Parent company financial statements (FAS) ...................................... 60 Tel. +358 (0)20 129 2081 Uponor Corporation, Group Communications Income statement ........................................................................................... 60 [email protected] P.O. Box 37, Äyritie 20 Balance sheet........................................................................................................61 FI-01511 Vantaa, Finland Cash flow statement .......................................................................................62 Shareholder enquiries Tel. +358 20 129 2854 [email protected] [email protected] Notes to the parent company financial statements ................63 Proposal of the Board of Directors ................................................................70 Reetta Härkki, General Counsel Auditor’s report ............................................................................................................ 71 Tel. +358 (0)20 129 2835 [email protected] 2 Uponor Financial Review 2020 Why invest in Uponor The business: sustainable building and The company: An industry innovator building on infrastructure solutions a century of experience • Safe drinking water delivery; energy-efficient heating and cooling • A leading supplier for residential and commercial construction for drinking water delivery and radiant and reliable infrastructure continue to be essential needs in built heating and cooling systems; and a strong position in infrastructure piping systems in northern Europe. environments • Established brand with a broad and loyal customer base • Uponor mitigates the cyclicality of construction industry by • Well maintained manufacturing network with capacity to grow operating in European and North American markets and serving • Continuous material and production technology development to support operational efficiency both new construction and renovation projects • Committed long-term key ownership with a clear understanding of the industry’s dynamics LONG-TERM FINANCIAL TARGETS (UPDATED ON 13 FEB 2019) Target 2020 2019 2018 2017 2016 Organic net sales growth(1 2020E: -1.2% 3.0 -0.4 4.9 6.5 2.0 Comparable(2 EBIT margin >10% 12.6 8.4 8.3 8.3 8.2 Return on investment (ROI) >20% 21.8 14.4 17.2 16.3 14.1 Gearing(3 (annual average for the four latest quarters) 40-80% 28.6 57.5 53.0 58.4 56.7 Dividend payout > 50% of earnings 47.1(4 73.6 70.8 59.0 79.3 1) GDP +3ppts (GDP growth based on a weighted average growth in the top 10 countries) 2) The targets issued in February 2013 referred to reported EBIT margin. 3) The impact of IFRS 16 adoption on Uponor’s liabilities as of 1 January 2019 was €44.3 million, increasing the amount of lease liabilities. 4) proposal of the Board of Directors SHARE-SPECIFIC KEY FIGURES 2020 2019 2018 2017 2016 Market value of share capital at year-end, M€ 1,329.4 852.9 631.0 1,228.4 1,208.6 Earnings per share (fully diluted), € 1.21 0.72 0.72 0.83 0.58 Dividend, total, M€ 41.6(1 38.7 37.2 35.8 33.6 Dividend per share, € 0.57(1 0.53 0.51 0.49 0.46 Effective share yield, % 3.1(1 4.5 5.9 2.9 2.8 Issue-adjusted share prices - highest, € 18.60 12.37 17.62 17.79 17.35 - lowest, € 6.73 8.52 8.13 13.30 11.13 Number of shareholders 17,834 18,907 20,341 19,191 16,113 1) proposal of the Board of Directors The definitions of key ratios are presented in the financial statements. Uponor Financial Review 2020 3 Information for shareholders Annual General Meeting Important dates in 2021 Uponor Corporation’s Annual General Meeting will be held on 18 March 2021 at 15:00 EET. Financial statements bulletin for 2020 11 February 08:00 EET In order to limit the spread of the COVID-19 pandemic, it is not possible to attend the Annual Annual report 2020 Week 8 General Meeting in person. Annual General Meeting 18 March 15:00 EET The company’s shareholders and their proxy representatives may attend the meeting and Record date for dividend payment 1st instalment: 20 March* exercise their shareholder rights only by voting in advance and submitting counter-proposals 2nd instalment: 12 September* and questions in advance. Shareholders also have the opportunity to follow the Annual General Date for dividend payment 1st instalment: 27 March* Meeting as a webcast if the registration and advance voting has been completed. 2nd instalment: 19 September* Registration and advance voting for shareholders will be available between 18 February 2021 Interim report: January–March 5 May 08:00 EET and 11 March 2021 at 10:00 in the following ways: • via Uponor’s IR website investors.uponor.com, which requires strong identification or Interim report: January–June 27 July 08:00 EET • by email to [email protected], when also necessary documentation shall be attached to the Interim report: January–September 28 October 08:00 EET email, such as signed voting form and possible proxy document and/or extract from trade register or * proposal of the Board of Directors • by mail addressed Innovatics Oy, Yhtiökokous / Uponor Oyj, Ratamestarinkatu 13 A, 00520 Helsinki, when also necessary documentation shall be included, such as signed voting form Analysts covering Uponor and possible proxy document and/or extract from trade register. According to the information available to the company, the following analysts made investment analyses of Uponor in 2020. These parties follow Uponor on their own initiative, and the company Payment of dividends is not responsible for their statements. Further information on Uponor’s analysts is available on investors.uponor.com. The Board of Directors proposes to the Annual General Meeting that a dividend of €0.57 per share be distributed for the financial period 2020. The dividend shall be paid in two instalments. Carnegie Handelsbanken The first instalment of €0.28 per share shall be paid to a shareholder registered as a shareholder Tommy Ilmoni Mika Karppinen in the shareholder register maintained by Euroclear Finland Ltd on the record date of the dividend payment on 22 March 2021. The payment date proposed by the Board for this instal- Danske Markets Nordea Markets ment is 29 March 2021. Matias Rautionmaa Svante Krokfors The second instalment of €0.29 per share shall be paid in September 2021. The second instalment shall be paid to a shareholder registered as a shareholder in the shareholder register OP Corporate Bank maintained by Euroclear Finland Ltd on the dividend record date,
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