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Definitions

In the interim report, Novedo presents key performance measures that complement the financial measures defined in accordance with IFRS, so-called alternative performance measures, APM. The Company believes that these KPIs provide valuable information to stakeholders as they enable evaluation of the Company’s performance, trends, ability to repay debt, invest in new business opportunities and refect the Group’s business model.

Since not all companies calculate financial ratios in the same way, these are not always comparable. They should therefore not be seen as a substitute for key performance measures defined in accordance with IFRS. Definitions are presented below, most of which are alternative performance measures.

IFRS measuresDefinition/Calculation
Earnings per shareProfit/loss for the period divided by the average number of shares.
  
APM/definitions:Definition/Calculation
Adjusted EBITAEBITA adjusted for acquisition-related items and non-recurring items.
Adjusted EBITA margin, %EBITA adjusted for acquisition-related items and non-recurring items, as a percentage of net sales.
Adjusted EBITDAEBITDA adjusted for acquistion-related items and non-recurring items.
Adjusted EBITDA-margin,%EBITDA adjusted for acquistion-related items and non-recurring items, as a percentage of net sales.
EBITAEBIT before amortisation and impairment of acquisition-related intangible assets.
EBITA margin, %EBITA in relation to net sales.
EBITDAOperating profit (EBIT) according to income statement before ­depreciation of right-of-use assets
and amortisation, depreciation and impairment of intangible and tangible assets.
EBITDA-margin, %EBITDA as a percentage of net sales.
Equity/assets ratio, %Equity at the end of the period as a percentage of total assets at the end of the period.
Net debt/equity ratio, multipleNet interest-bearing debt in relation to equity including non-­controlling interests.
Net interest-bearing debtCurrent and non-current interest-bearing liabilities, less cash and cash equivalentsat the end of the period.
Net sales growth, %Change in sales compared with total net sales in the preceding period.
Operating margin (EBIT), %EBIT in relation to net sales.
Operating profit/loss (EBIT)Profit/loss before financial items and tax.
Pro forma organic growthOrganic growth calculated as if all consolidated companies had been owned for the entire period in question.
Pro formaPro forma refers to companies that Novedo has been acquired and taken over during the current period,
and has been recalculated to show the results as if Novedo had owned the companies during the entire period.
Return on capital employed, %EBITA for the period as a percentage of, total assets less operational ­liabilities less cash
and cash equivalents at the end of the period.
Return on equity, %Profit/loss for the period as a percentage of equity at the end of the period.
Working capitalCurrent assets, excluding cash and cash equivalents and tax assets,
less current liabilities of a non-financial nature excluding tax liabilities.