We target annual average organic revenue growth (excluding tobacco) over the economic cycle of around 3%, assuming an inflation rate of around 1.5%. We expect to accelerate our growth through acquisitions, although this growth will be more sudden and sporadic in nature. We will strive to increase profitability over the next few years and reach EBITDA of 7.5% of revenue.

Given the current level of fragmentation of the Dutch food service market, further acquisition opportunities are likely to arise in the coming years, whereby we will primarily target relatively large players, as the benefits of an acquisition need to outweigh the complexity of the integration. In Belgium, where the food service landscape is even more fragmented, we aim to achieve a leading position in the food service market through a combination of organic growth and acquisitions. Our focus for the coming years will be on these two countries.

Our strategy focuses on being able to offer shareholders attractive longterm returns. In achieving this, we are committed to our corporate social responsibility and we report on our CSR performance. As the new reporting rules relating to sustainability are introduced, that transparency will increase even further. This aspect is discussed in more detail later in this report. In our business, financial and social returns have gone hand in hand for years, underpinning an independent position in the market that Sligro Food Group aims to hold on to for many years to come.