palfinger at a glance
palfinger at a glance
palfinger at a glance
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Definition of Performance Indic<strong>at</strong>ors<br />
<strong>palfinger</strong> <strong>at</strong> a Glance<br />
Definition of Performance Indic<strong>at</strong>ors<br />
Capital Employed<br />
Earnings per share<br />
ebit<br />
eva<br />
Free cash flows<br />
Gearing R<strong>at</strong>io<br />
Net debt<br />
nopl<strong>at</strong><br />
ROCE<br />
roe<br />
wacc<br />
Working Capital<br />
reflects capital investment and is calcul<strong>at</strong>ed as<br />
• intangible assets<br />
• plus property, plant and equipment, shareholdings and net current assets<br />
is the r<strong>at</strong>io of the consolid<strong>at</strong>ed net result for the period to the weighted<br />
average number of shares outstanding<br />
(Earnings Before Interest and Taxes) Since 2010, the results of the oper<strong>at</strong>ing non-controlling interests<br />
(the income from associ<strong>at</strong>ed companies) have been reported under EBIT to better take into account<br />
the Company’s result of oper<strong>at</strong>ions.<br />
(Economic Value Added) indic<strong>at</strong>es the Company’s economic profit:<br />
• roce minus WACC<br />
• multiplied by average capital employed<br />
is the net amount of cash available to service internal or external borrowing:<br />
• cash gener<strong>at</strong>ed from oper<strong>at</strong>ions<br />
• plus interest on borrowings<br />
• minus tax shield on interest on borrowings<br />
is a measure rel<strong>at</strong>ing to the Company’s debt:<br />
• r<strong>at</strong>io of net debt and<br />
• equity in per cent<br />
is calcul<strong>at</strong>ed as<br />
• non-current and current financial liabilities<br />
minus<br />
• long-term and short-term securities<br />
• long-term loans<br />
• cash and cash equivalents<br />
(Net Oper<strong>at</strong>ing Profit Less Adjusted Taxes) is composed of<br />
• ebit<br />
• minus taxes on EBIT<br />
(Return on Capital Employed) shows the r<strong>at</strong>e of return gener<strong>at</strong>ed on capital invested in the Company:<br />
• r<strong>at</strong>io of NOPL<strong>at</strong> to<br />
• average capital employed<br />
(from reporting d<strong>at</strong>e of previous year to reporting d<strong>at</strong>e of current year) in per cent<br />
(Return on Equity) is a measure of the Company’s profitability th<strong>at</strong> presents earnings<br />
in rel<strong>at</strong>ion to equity capital employed:<br />
• r<strong>at</strong>io of after-tax earnings and<br />
• average equity as a percentage<br />
(Weighted Average Cost of Capital) is a measure of the average cost of capital employed<br />
(debt and equity)<br />
is the net surplus of current assets over current liabilities<br />
<strong>palfinger</strong> Annual Report 2011<br />
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