Definitions

Return on equity
Profit for the year attributable to owners of the parent divided by average equity attributable to owners of the parent.

Dividend yield
Dividend on ordinary shares expressed as a percentage of the Class B share’s market price.

Total return
Price development of Class B shares including reinvested dividends on ordinary shares.

EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation).
EBITA with depreciation, amortisation and impairment reversed.

EBITDA margin
EBITDA expressed as a percentage of net sales.

EBITA
Operating profit before impairment of goodwill as well as amortisation and impairment of other intangible assets that arose in conjunction with company acquisitions and similar transactions. (Earnings Before Interest, Tax and Amortisation).

EBITA margin
EBITA expressed as a percentage of net sales.

Equity per share
Equity attributable to owners of the parent divided by the number of outstanding ordinary shares at the end of the period.

Consolidated value
The Group’s share of the company’s equity, any residual consolidated surplus and deficit values minus any intra-Group profits. In addition, shareholder loans and capitalised interest on such loans are included.

Organic growth
Net sales growth in comparable units. The effects of acquisitions, divestments and exchange rate changes are excluded.

Last 12-month period
The most recent 12 months.

P/E ratio
Market share price for Class B share in relation to earnings per share.

Basic earnings per share
Profit for the period attributable to owners of the parent company divided by the average number of outstanding ordinary shares.

Diluted earnings per share
The calculation of diluted earnings per share is based on consolidated profit for the year attributable to the owners of the parent company and on the weighted average number of shares outstanding during the year.

When calculating diluted earnings per share, earnings and the average number of shares are adjusted to take into account the effects of potential ordinary shares, which, for the reported periods,pertain to convertible debt instruments and warrants issued to employees. Dilution resulting from convertible debt instruments is calculated by increasing the number of shares by the total number of shares to which the convertibles correspond and increasing earnings by the recognised interest expense after tax. Potential ordinary shares are considered to have a dilutive effect only during periods when they result in lower earnings or a higher loss per share.

Interest-bearing net debt
Interest-bearing liabilities and pension provisions minus fixed-income assets and cash and cash equivalents.

Equity ratio
Reported equity expressed as a percentage of total assets. Non-controlling interests are included in equity.

Company performance measures
The following performance measures are presented for Ratos’s business areas – both for the companies in their entirety (100% of the holdings in the companies) regardless of Ratos’s holding and adjusted for the size of Ratos’s holding in each company:

  • Net sales in the companies – Net sales for the entire current period and comparative periods in the companies owned at the end of the reporting period.
  • EBITDA in the companies – Operating profit before depreciation and amortisation in the companies owned at the end of the reporting period.
  • EBITA in the companies – Operating profit for the entire current period and comparative periods in the companies owned at the end of the reporting period before impairment of goodwill as well as amortisation and impairment of other intangible assets arising in conjunction with company acquisitions and equivalent transactions.
  • Profit/loss before tax in the companies – Profit or loss before tax in the companies owned at the end of the reporting period.
  • Interest-bearing net debt in the companies – Interest-bearing liabilities and pension provisions minus fixed-income assets and cash and cash equivalents in companies owned at the end of the reporting period.
  • Cash flow from operations – Cash flow from operating activities, excluding paid tax, but including cash flow from investments and divestments of intangible assets and property, plant and equipment, respectively, as well as amortisation of lease liabilities and interest paid on leasing.