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Scania annual report 2003

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Key financial ratios 1<br />

and definitions<br />

<strong>2003</strong> 2002 2001<br />

<strong>Scania</strong> Group<br />

Operating margin, % 10.1 9.3 4.6<br />

Earnings per share, SEK 15.2 13.7 5.2<br />

Return on shareholders’ equity, % 17.4 17.2 6.5<br />

Equity/assets ratio, % 27.7 25.6 23.4<br />

Vehicles and Service<br />

Operating margin, % 9.4 7.5 4.1<br />

Profit margin, % 10.0 9.2 4.7<br />

Capital turnover rate, times 2.21 1.89 1.93<br />

Return on capital employed, % 22.0 17.4 9.1<br />

Net debt/equity ratio 0.17 0.31 0.58<br />

Interest coverage, times 6.2 4.6 2.0<br />

Customer Finance<br />

Operating margin, % 1.4 1.2 1.2<br />

Equity/assets ratio, % 11.5 11.9 9.5<br />

Operating margin<br />

Operating income as a percentage of sales<br />

revenue.<br />

Operating margin, Customer Finance<br />

Operating income as a percentage of the<br />

average portfolio.<br />

Earnings per share<br />

Net income divided by the number of shares.<br />

Return on shareholders’ equity<br />

Net income as a percentage of shareholders’<br />

equity.<br />

Profit margin<br />

Operating income plus financial income<br />

as a percentage of sales revenue.<br />

Capital turnover<br />

Sales revenue divided by capital employed<br />

(total assets minus non-interest-bearing<br />

liabilities).<br />

Return on capital employed<br />

Operating income plus financial income<br />

as a percentage of capital employed.<br />

Net debt/equity ratio<br />

Short- and long-term borrowings (excluding<br />

pension liabilities) minus liquid assets, divided<br />

by shareholders’ equity.<br />

Interest coverage<br />

Operating income plus financial income<br />

divided by financial expenses.<br />

1 Unless otherwise stated, calculations are based on an average for five measuring points (quarters).<br />

Equity/assets ratio<br />

Shareholders’ equity as a percentage<br />

of total assets on each respective balance<br />

sheet date.<br />

81 ANNUAL REPORT <strong>2003</strong>

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