Annual Report 2013 | Suomeksi |

Definitions of key figures

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EBITDA (Earnings before interest, taxes, depreciation and amortisation) = Operating profit + Depreciation, amortisation and impairment charges
Comparable EBITDA = EBITDA - items affecting comparability - Net release of CSA provision
Items affecting comparability = Non-recurring items + other items affecting comparability
Comparable operating profit = Operating profit - non-recurring items - other items affecting comparability
Non-recurring items = Mainly capital gains and losses
Other items affecting comparability = Includes effects from financial derivatives hedging future cash-flows where hedge accounting is not applied according to IAS 39 and effects from the accounting of Fortum´s part of the Finnish Nuclear Waste Fund where the asset in the balance sheet cannot exceed the related liabilities according to IFRIC interpretation 5.
Funds from operations (FFO) = Net cash from operating activities before change in working capital
Capital expenditure = Capitalised investments in property, plant and equipment and intangible assets including maintenance, productivity, growth and investments required by legislation including borrowing costs capitalised during the construction period. Maintenance investments expand the lifetime of an existing asset, maintain usage/availability and/or maintains reliability. Productivity improves productivity in an existing asset. Growth investments' purpose is to build new assets and/or to increase customer base within existing businesses. Legislation investments are done at a certain point of time due to legal requirements.
Gross investments in shares = Investments in subsidiary shares, shares in associated companies and other shares in available for sale financial assets. Investments in subsidiary shares are net of cash and grossed with interest-bearing liabilities in the acquired company.
Return on shareholders' equity, % Profit for the year x 100
Total equity average
Return on capital employed, % = Profit before taxes + interest and other financial expenses x 100
Capital employed average
Return on capital employed continuing operations, % = Profit before taxes continuing operations + interest and other financial expenses continuing operations x 100
Capital employed continuing operations average
Return on net assets, % = Operating profit + Share of profit (loss) in associated companies and joint ventures x 100
Net assets average
Comparable return on net assets, % = Comparable operating profit + Share of profit (loss) in associated companies and joint ventures (adjusted for IAS 39 effects and major sales gains or losses) x 100
Comparable net assets average
Capital employed = Total assets - non-interest bearing liabilities - deferred tax liabilities - provisions
Net assets = Non-interest bearing assets + interest-bearing assets related to the Nuclear Waste Fund - non-interest bearing liabilities - provisions (non-interest bearing assets and liabilities do not include finance related items, tax and deferred tax and assets and liabilities from fair valuations of derivatives where hedge accounting is applied)
Comparable net assets = Net assets adjusted for non-interest-bearing assets and liabilities arising from financial derivatives hedging future cash flows where hedge accounting is not applied according to IAS 39
Interest-bearing net debt = Interest-bearing liabilities - cash and cash equivalents
Gearing, % = Interest-bearing net debt x 100
Total equity
Equity-to-assets ratio, % = Total equity including non-controlling interests x 100
Total assets
Net debt/EBITDA = Interest-bearing net debt
Operating profit + Depreciation, amortisation and impairment charges
Comparable net debt/EBITDA = Interest-bearing net debt
Comparable EBITDA
Net debt/EBITDA continuing operations = Interest-bearing net debt
Operating profit continuing operations + Depreciation, amortisation and impairment charges continuing operations
Comparable net debt/EBITDA continuing operations = Interest-bearing net debt
Comparable EBITDA continuing operations
Interest coverage = Operating profit
Net interest expenses
Interest coverage including capitalised borrowing costs = Operating profit
Net interest expenses-capitalised borrowing costs
Average number of employees Based on monthly average for the whole period
Earnings per share (EPS) = Profit for the period - non-controlling interests
Average number of shares during the period
Cash flow per share = Net cash from operating activities
Average number of shares during the period
Equity per share = Shareholders' equity
Number of shares at the end of the period
Payout ratio, % = Dividend per share x 100
Earnings per share
Payout ratio continuing operations, % = Dividend per share continuing operations x 100
Earnings per share continuing operations
Dividend yield, % = Dividend per share x 100
Share price at the end of the period
Price/earnings (P/E) ratio = Share price at the end of the period
Earnings per share
Average share price = Amount traded in euros during the period
Number of shares traded during the period
Market capitalisation = Number of shares at the end of the period x share price at the end of the period
Trading volumes = Number of shares traded during the period in relation to the weighted average number of shares during the period
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