The aim of the Ramirent Group’s strategy is to generate a healthy return to shareholders under financial stability. The Group's long-term financial targets over a business cycle are: earnings per share growth of at least 15 per cent p.a. and a return on invested capital of at least 18 per cent p.a. In addition, a gearing target of less than 120 per cent at the end of each financial year was set for the first time at Group level in January 2009. Ramirent’s policy with respect to the ordinary dividend is to distribute at least 40 per cent of annual earnings per share to the shareholders. The long-term financial targets are: