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definitions<br />
Capital turnover rate<br />
net sales divided by average total assets less non-interest-bearing liabilities.<br />
Debt/equity ratio<br />
net debt as a percentage of shareholders’ equity.<br />
Direct yield<br />
dividend divided by market price at year-end.<br />
earnings per share<br />
net income for the year divided by average number of shares.<br />
eBIt multiple<br />
Market value at year-end plus net debt divided by operating income.<br />
equity/assets ratio<br />
Shareholders’ equity as a percentage of total assets.<br />
Gross margin<br />
Gross profit, i.e. net sales less cost of goods sold, as a percentage of net sales.<br />
Interest coverage ratio<br />
operating income plus interest income divided by interest expenses.<br />
net debt<br />
Interest-bearing debt less liquid assets.<br />
operating margin<br />
operating income as a percentage of net sales.<br />
p/e ratio<br />
Market value at year-end divided by earnings.<br />
payout ratio<br />
dividend divided by earnings per share.<br />
profit margin<br />
operating income plus interest income as a percentage of net sales.<br />
r&D, %<br />
Costs for research and development as a percentage of net sales.<br />
return on capital employed<br />
operating income plus interest income as a percentage of average<br />
total assets less non-interest-bearing liabilities.<br />
return on equity<br />
net income for the year as a percentage of shareholders’ equity on average.<br />
return on total assets<br />
operating income plus interest income as a percentage of average<br />
total assets.<br />
total return<br />
Market price at year-end, including dividend, divided by marketprice at beginning<br />
of year.<br />
aBBreVIatIonS<br />
aBa<br />
automatic Brake adjuster<br />
aBS<br />
antilock Brake System<br />
aDB<br />
air disc Brake<br />
CVS<br />
Commercial Vehicle Systems<br />
eBS<br />
electronic Brake System<br />
eMB<br />
electronic Mechanical (disc) Brake<br />
Modulair<br />
air dryer product range with modular design<br />
tCM<br />
trailer Control Module<br />
ttM<br />
trailer Control Module<br />
<strong>Haldex</strong> <strong>annual</strong> report <strong>2011</strong> | 71
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