A profit attributable to the shareholder of €208 million was recorded in 2019. A proposal will be made to pay a dividend of €73 million, equalling 35% of the profit for 2019, and to add the remaining €135 million to the reserves.
ROE
The return on equity (ROE) increased to 5.6% in 2019 (2018: 3.0%). The ROE based on the underlying result (excluding IFRS 16) rose from 4.0% in 2018 to 4.6% in 2019. In the longer term, NS aims to achieve a benchmark return on invested capital as agreed with its shareholder, the Ministry of Finance. That benchmark return, combined with a sound financial position, will enable NS to independently obtain the necessary investment financing through the market.