ANNUAL REPORT Definitions
DEFINITIONS
AVERAGE NUMBER OF EMPLOYEES Average number of full-time employees during the period .
SHAREHOLDERS ’ EQUITY Reported shareholders ’ equity plus untaxed reserves less deferred tax at the current tax rate .
CAPITAL EMPLOYED Total assets less noninterest-bearing liabilities and noninterest-bearing provisions including deferred tax liabilities .
NET SALES PER EMPLOYEE Net sales / average number of full-time employees .
EBITA Earnings before amortisation and impairment of intangible non-current assets .
EBITA MARGIN EBITA as a percentage of net sales .
OPERATING MARGIN Operating profit as a percentage of net sales .
PROFIT MARGIN Profit before tax as a percentage of net sales .
RETURN ON EQUITY Net profit for the period attributable to owners of the Parent Company as a percentage of average shareholders ’ equity attributable to owners of the Parent Company .
RETURN ON CAPITAL EMPLOYED Profit before tax plus financial expenses as a percentage of the average capital employed .
EQUITY / ASSETS RATIO Shareholders ’ equity ( including shareholders ’ equity attributable to non-controlling interests ) as a percentage of total assets .
ACID TEST RATIO Current assets excluding inventories as a percentage of current liabilities .
NET DEBT Interest-bearing liabilities less cash and cash equivalents and other interestbearing receivables . According to this definition , a negative level of net debt means that cash and cash equivalents and other interest-bearing financial assets exceed interest-bearing liabilities .
DEBT / EQUITY RATIO The sum of interest-bearing current and non-current liabilities , as well as deferred tax liabilities in relation to shareholders ’ equity .
INTEREST COVERAGE RATIO Profit before tax plus interest expenses as a percentage of interest expenses .
SHARE OF RISK-BEARING CAPITAL Reported shareholders ’ equity ( including shareholders ’ equity attributable to non-controlling interests ) and deferred tax liabilities in untaxed reserves as a percentage of total assets .
EARNINGS PER SHARE Net profit for the period attributable to owners of the Parent Company / average number of shares outstanding .
SHAREHOLDERS ’ EQUITY PER SHARE Shareholders ’ equity attributable to owners of the Parent Company shareholders / total number of shares outstanding .
P / E MULTIPLE Share price in relation to earnings per share .
SHARE PRICE / SHAREHOLDERS ’ EQUITY Share price in relation to shareholders ’ equity per share .
CASH FLOW PER SHARE Cash flow from operating activities / average number of shares outstanding .
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