Definitions of key data
Adjusted results measurements | |
Underlying gross result | The underlying gross result is the reported gross result adjusted for inventory gains and losses (deductions for gains and additions for losses). |
Underlying operating result (uEBIT) | Operating result (EBIT) before items affecting comparability adjusted for inventory gains and losses (deductions for gains and additions for losses). |
Items affecting comparability | Items that do not have any link to the normal operations of the Group or that are of a non-recurring nature, where a reporting together with other items in the consolidated comprehensive income statement would have given a comparison distortion effect that would have made it diffcult to judge the development of the ordinary operations for an outside viewer. |
Adjusted margin measurements | |
Underlying gross margin | Underlying gross result as a percentage of net sales. |
Underlying operating margin | Underlying operating result (uEBIT) as a percentage of net sales. |
Capital structure | |
Net debt excl. IFRS 16 | Interest-bearing liabilities excluding leasing liabilities acc. to IFRS 16 less cash and equivalents and financial assets. |
Net debt/equity ratio excl. IFRS 16 | Net debt excl. IFRS 16 divided by equity excl. IFRS 16. |
Working capital | Inventories and current receivables less current liabilities, excluding provisions and interest-bearing liabilities. |
Working capital (average) | Inventories and current receivables less current liabilities, excluding provisions and interest-bearing liabilities.This measure represents an average for each period based on quarterly data. |
Capital employed excl. IFRS 16 | Equity excl. IFRS 16 plus interest-bearing liabilities excl. leasing liabilities acc. to IFRS 16. |
Capital employed (average) excl. IFRS 16 | Equity excl. IFRS 16 plus interest-bearing liabilities excl. leasing liabilities acc. to IFRS 16. This measure represents an average for each period based on quarterly data. |
Working capital tied-up | Average working capital, as a percentage of annually adjusted net sales. |
Return on capital | |
Return on capital employed excl. IFRS 16 | Annually adjusted operating result excl. IFRS 16, as a percentage of average capital employed excl. IFRS 16. |
Per share data | |
Earnings per share | Profit/loss for the period divided by the average number of shares outstanding during the period. |
Equity per share | Equity divided by the number of shares outstanding at the end of the period. |
Cash flow per share from operating activities | Cash flow from operating activities divided by the average number of shares for the period. |
Shares outstanding at the end of the period | Shares outstanding at the end of the period adjusted for rights issues and share splits. |
Average number of shares | Weighted average number of shares outstanding during the period, adjusted for rights issued and share splits. |
Growth | |
Sales growth | Change in net sales from the preceding period in percent. |
Other | |
Inventory gains and losses | The difference between the cost of goods sold at acquisition value and the cost of goods sold at replacement cost. |
Please refer to the 2019 annual report for other definitions of key data.