Annual Report 2003 - Modern Times Group MTG AB
Annual Report 2003 - Modern Times Group MTG AB
Annual Report 2003 - Modern Times Group MTG AB
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Definitions<br />
EBIT<br />
Earnings before interest and tax.<br />
EBITDA<br />
Earnings before interest, tax, depreciation and amortization.<br />
PBT<br />
Profit before tax.<br />
Net debt<br />
The sum of interest-bearing liabilities, including the subordinated convertible debenture<br />
loan, less interest-bearing assets.<br />
Equity/assets ratio<br />
The sum of consolidated shareholders’ equity and minority interest, including the<br />
subordinated convertible debenture loan as a percentage of total assets.<br />
Debt/equity ratio<br />
Total debt as a percentage of consolidated shareholders’ equity and minority interests.<br />
Cash flow from operations<br />
Operating cash flow less financial items and tax payments, adjusted for changes in<br />
working capital.<br />
Liquid funds<br />
Cash and cash equivalents plus short-term investments, including unutilized credit<br />
facilities.<br />
Glossary<br />
The following explanations are not intended as technical definitions, but to assist the general reader to understand certain terms.<br />
Analogue<br />
A signalling technology in which signals are conveyed by continuously varying, among<br />
other things, the frequency, amplitude or phase of the transmission.<br />
CATV<br />
Cable- or fiber-optic-based distribution of television programs used with both satellite<br />
and terrestrial broadcasting.<br />
Churn rate<br />
Subscription disconnections (either voluntarily terminated by the subscriber or involuntarily<br />
terminated due to non-payment of bills or because of expected fraudulent<br />
use), expressed as a percentage of the midpoint of the number of subscribers at the<br />
beginning and end of the period.<br />
Digital<br />
A signalling technology in which a signal is encoded into digits for transmission.<br />
DTH<br />
Direct-to-home transmission of television programs to customers with parabolic satellite<br />
dishes and receivers.<br />
DTT<br />
Digital-terrestrial-transmission of television programs to customers with parabolic<br />
satellite dishes and receivers.<br />
definitions glossary<br />
Return on total assets<br />
Net income as a percentage of total assets.<br />
Return on equity<br />
Net income as a percentage of shareholders’ equity.<br />
Operating margin<br />
Operating profit as a percentage of net sales.<br />
Interest coverage ratio<br />
Operating profit divided by net interest.<br />
Earnings per share<br />
Net income divided by the number of ordinary shares outstanding at the end of the<br />
accounting period.<br />
Net assets<br />
Assets less liabilities including provisions.<br />
p/e ratio<br />
Market price per share as a percentage of earnings per share.<br />
Encrypted<br />
Distribution of transmissions that are scrambled in order to prevent illegitimate access.<br />
Smartcard<br />
A card rendered from Viasat or one of its competitors which is inserted into a decoder<br />
box in a DTH customer's home and which receives and implements signals to<br />
permit or prevent the transmission of particular television channels.<br />
SMATV<br />
Small master antenna-based distribution of television programs; a common parabolic<br />
satellite dish is used to link a group of customers via a satellite network.<br />
Terrestrial Broadcasting<br />
Transmission of television programming using the VHF frequencies.<br />
Transponder<br />
Satellite-based device that is able to receive signals from uplink facilities and retransmit<br />
them to ground-based receivers.<br />
Downlink facilities<br />
Technical facilities needed to receive satellite transmitted programming.<br />
Uplink facilities<br />
Technical facilitites needed to transmit television programs through satellites.<br />
67