ETX-10829_Etex-AR2017_WEB_2018_DEF2 (2)

6.3
Financial report
Glossary
Etex Annual Report 2017
Colophon
Glossary
Definitions below relate to non-IFRS performance indicators.
Capital employed
Non-cash working capital plus
property, plant and equipment,
goodwill and intangible assets,
investment properties and noncurrent
assets held for sale.
Capital expenditure
Acquisition of property, plant and
equipment, intangible assets and
investment properties, excluding
acquisitions through business
combination.
Effective income tax rate
Income tax expense divided by the
profit before income tax and before
share of result in investments
accounted for using the equity
method, expressed as a
percentage.
Free Cash Flow
Free cash flow is the sum of the
cash flow from operating activities,
interest paid and received, dividend
received less capital expenditure.
Net financial debt
Current and non-current financial
liabilities, including capital leases,
less current financial assets and
cash or cash equivalents.
Net recurring profit (Group
Share)
Net profit for the year before non
recurring items, net of tax impact
and attributable to the shareholders
of the Group.
Revenue
Includes the goods delivered and
services provided by the Group
during the period, invoiced or to be
invoiced, net of discounts, rebates
and allowances.
Non recurring items
Income statement items that relate
to significant restructuring
measures, health claims and
environmental remediation, major
litigation, and goodwill impairment,
income or expenses arising from
disposal of businesses or non
productive assets and other
significant one-off impacts such as
those relating to long term
employee benefits settlement.
Operating income or EBIT
(earnings before interest and
taxes)
Income from operations, before
financial charges and income,
share of result in investments
accounted for using the equity
method and in-come tax expenses.
Operating cash flow or EBITDA
(earnings before interest, taxes,
depreciation and amortisation)
Operating income before charges
of depreciation, impairment or
amortisation on tangible and
intangible fixed assets.
Net profit (Group share)
Profit for the year attributable to the
shareholders of the Group.
Recurring distribution rate
Gross dividend per share divided
by the net recurring profit (Group
share) per share, expressed as a
percentage.
Recurring operating income
(REBIT)
Income from operations, before non
recurring items and before financial
charges and income, share of
result in investments accounted for
using the equity method and
income tax expenses.
Recurring operating cash flow
(REBITDA)
Recurring operating income
before charges of depreciations,
impairment or amortization on
tangible and intangible fixed
assets.
Return on capital employed
(ROCE)
Operating income divided by the
average capital employed (at the
beginning of the year plus at the
end of the year divided by two),
expressed as a percentage.
Theoretical income tax
expenses
Country-based nominal tax rate
applied to the profit before taxes of
each entity.
Weighted average nominal tax
rate
Country-based nominal tax rate
applied to the profit before taxes of
each entity divided by the Group’s
profit before income tax and before
share of result in investments
accounted for using the equity
method, expressed as a
percentage.
Weighted average number of
shares
Number of issued shares at the
beginning of the period adjusted for
the number of shares cancelled or
issued during the period multiplied
by a time-weighting factor.
Photographs
Page 14 › Picture provided by ShutterStock
Page 16 › Colombia, picture provided by
Etex Colombia
Page 18 › Colombia, picture provided by
Etex Colombia
Page 18 › Colombia, picture provided by
Etex Colombia
Page 22 › (top) Picture provided by
ShutterStock
Page 22 › United Kingdom, picture provided
by Marley Eternit
Page 23 › (top) Picture provided by
ShutterStock
Page 23 › Picture provided by
Etex Colombia
Page 30 › Brazil, Picture provided by
Gypsum Drywall
Page 32 › Belgium, architect: Spring
architecten & Moederscheim Moonen
Architects, picture provided by
Siniat Benelux
Page 33 › (top) Picture provided by
Etex Colombia
Page 33 › Germany, picture provided by
Siniat Germany
Page 35 › Germany, picture provided by
Siniat Germany
Page 36 › Romania, picture provided by
Etex Building Performance Romania
Page 37 › Hong Kong and China, picture
provided by Promat Asia Pacific
Page 39 › Belgium, architect: Lindsay
Rinckhout, picture provided by
Eternit Belgium
Page 41 › Germany, architect: Schmidt
Hammer Lassen Architects, photographer:
Michael Rasche, picture provided by
Eternit Germany
Page 42 › USA, architect: Architectural
Resources Cambridge, photographer: John
Horner, picture provided by Equitone USA
Page 43 › (top) Netherlands, architect:
Van den Berg Groep, picture provided by
Eternit Belgium
Page 43 › Australia, architect: TKD
Architect, picture provided by Equitone,
Asia Pacific
Page 44 › Netherlands, architect: 01-
10 Architecten, picture provided by
Eternit Belgium
Page 47› Picture provided by ShutterStock
Page 49 › Picture provided by ShutterStock
Page 51 › Picture provided by Istock
Page 52 › Picture provided by ShutterStock
Page 54 › United Kingdom, picture provided
by Marley Eternit
Page 57 › United Kingdom, picture provided
by Marley Eternit
Page 59 › United Kingdom, design
architect: Kirkland Fraser Moor, project
architect John Phipps, picture provided
by Marley Eternit
Page 60 › Germany, picture provided
by Creaton
Page 61 › Germany, picture provided
by Creaton
Page 65 › United Kingdom, photographer
Tim Coppens
Page 67 › Picture provided by ShutterStock
Page 71 › United Kingdom, photographer
Tim Coppens
Page 73 › Colombia, picture provided by
Etex Colombia
Page 74 › South Africa, photographer
Tim Coppens
Page 77 › Colombia, picture provided by
Etex Colombia
Page 80 › Colombia, picture provided by
Etex Colombia
Page 85 › Colombia, picture provided by
Etex Colombia
Page 86 › Romania, pictures provided by
Habitat for Humanity, Romania
Page 87 › Singapore, picture provided by
Equitone Asia Pacific
Referenced products and trademarks are
owned by Etex SA or an affiliate thereof.
They may be registered in one or more,
but not all, countries. No use of these
trademarks shall be made without the prior
written consent of Etex SA or its affiliates.
Etex Annual Report 2017 p. 75
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