Strong Balance Sheet & Low LeverageManageable net leverage and a cash buffer provide durable financial flexibility to fund product launches, service growth and working capital needs. This lowers refinancing risk, supports the proposed dividend and gives management room to execute productivity actions toward the 16–19% EBITA target.
Higher Recurring Revenue MixA two‑thirds recurring revenue share increases revenue predictability, supports steadier margins and improves cash flow visibility. Structurally, a larger service/consumables base reduces cyclicality from project sales and helps sustain operating leverage as new products scale.
Regulatory Progress & Product LaunchesRegulatory clearances and new product rollouts expand addressable markets and recurring consumable attachment rates. CE/510(k) progress is a structural enabler of durable revenue growth and margin improvement as clinical adoption and aftermarket sales accumulate over multiple years.