Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 148Glossary of termsIn this annual report defi nitions are as follows:Operating profitTotal result from operating activities before interest and tax.Like-for-likeChange in total revenue at constant currency less revenues acquired and/or divested companies in the year.EbitdaOperating result before depreciation, amortisation and non-recurring items.Net investmentsInvestments paid less proceeds from sold property, plant & equipment andintangible assets.Net DebtCurrent and non-current interest-bearing loans and borrowings includingbank overdrafts less cash and cash equivalents.Net Capital EmployedTotal assets less cash and cash equivalents less investments in associatesless other investments less deferred tax liabilities less current liabilities(trade and other liabilities, income tax payable and liabilities classifi ed asheld-for-sale) less current provisions and current employee benefi ts.Return on average Net Capital EmployedRecurring result from operating activities divided by average Net CapitalEmployed.Debt / Equity ratioNet Debt divided by Total Equity.Interest coverage ratioResult from operating activities before depreciation, amortisation,non-recurring restructuring expenses and non-recurring gains or losses onthe sale of fi xed assets, including income of associates and excludingprofi t attributable to non-controlling interest, divided by the net interestexpenses, including all interest and other fi nancing charges in the nature ofinterest.Leverage ratioTotal net debt adjusted for the 10 quarters rolling cash out with respect torestructuring expenses divided by result from operating activities beforedepreciation, amortisation, non-recurring restructuring expenses andnon-recurring gains or losses on the sale of fi xed assets, including incomeof associates and excluding profi t attributable to non-controlling interest.Innovation rateAnnual revenue generated for fi ve years after the related productintroduction by an operating company divided by the total revenue realizedwith sales of goods.Service levelNumber of complete sales orders delivered on time in full to externalcustomers, at the agreed date with the external customer, divided by thetotal number of sales orders to external customers.Greenhouse Gas EmissionsKilogram of gasses as defi ned by the Kyoto Protocol that are emitted tothe atmosphere and contribute to the greenhouse effect per ton of fi nishedproducts produced.WorkforceTotal Full Time Equivalents (FTE) including own personnel and temporarypersonnel per year-end.HeadcountNumber of employees on the payroll.Lost time incident frequencyNumber of lost time incidents per million hours worked.