Key ratio definitions

Duni uses financial measures that in some cases are not defined by IFRS, but are alternative key financials. The purpose is to provide additional information that facilitates a better and more specific comparison of performance from year to year. Duni defines its key ratios as follows.

Number of employees
The number of active full-time employees at end of period.

Return on equity
Net income for the year as a percentage of equity.

Return on capital employed
Operating income as a percentage of capital employed.

Gross margin
Gross profit as a percentage of net sales.

EBIT
Earnings before interest and taxes.

EBIT margin
EBIT as a percentage of net sales.

EBITA
Earnings before interest, taxes and amortization.

EBITA margin
EBITA as a percentage of net sales.

EBITDA
Earnings before interest, taxes, depreciation and amortization (including impairment).

EBITDA margin
EBITDA as a percentage of net sales.

Cost of goods sold
Cost of goods sold including production and logistic costs.

Operating income
EBIT adjusted for restructuring costs, fair value allocations and amortization of intangible assets identified in connection with business acquisitions.

Organic growth
Sales growth adjusted for currencies and acquisitions. Acquired companies are included in organic growth when they have comparable quarters. For 2018 and previous years, organic growth has been calculated when acquired companies have been a part of the Duni Group for five quarters.

Organic pro forma growth
Currency-adjusted growth including acquisitions, which are compared with the previous year’s pro forma figures.

Operating margin
Operating income as a percentage of net sales.

P/E ratio
Current share price as a percentage of earnings per share.

Interest-bearing net debt
Interest-bearing liabilities and pensions less cash and cash equivalents and interest-bearing receivables.

Net debt/equity ratio
Interest-bearing net debt as a percentage of total equity.

Capital employed
Non-interest bearing fixed and current assets, excluding deferred tax assets, less non-interest bearing liabilities.

Currency adjusted
Figures adjusted for changes in exchange rates related to consolidation. Figures for 2019 are calculated at exchange rates for 2018. Effects of restatement of balance sheet items are not included.

Earnings per share
Income for the period divided by the average number of shares.

Earnings per share adjusted for goodwill impairment
Net income, excluding goodwill impairment, divided by the average number of shares.