Return on equity²
Earnings after tax divided by equity. The components are calculated as the average of the last 12 months.
Return on working capital (P/WC)¹
EBITA divided by working capital.
Return on capital employed
Profit before tax plus financial expenses as a percentage of capital employed. The components are calculated as the average of the last 12 months.
EBITA¹
Operating profit before amortisation of intangible assets.
EBITA margin
EBITA as a percentage of net sales.
EBITDA¹
Operating profit before depreciation and amortisation.
Equity per share
Shareholders’ share of equity divided by number of shares outstanding on the reporting periods end.
Financial net debt
The net of interest-bearing debt and provisions minus cash and cash equivalents.
Cash flow from operating activities per share
Cash flow from operating activities, divided by the average number of outstanding shares after repurchase.
Net debt excluding pensions
The net of interest-bearing debt and provisions excluding pensions minus cash and cash equivalents.
Net debt excluding pensions/ equity ratio²
Net debt excluding pensions divided by shareholders' equity.
Earnings per share (EPS)
Shareholders’ share of profit for the period after tax, divided by the weighted average number of shares during the period. Performance measures under IFRS.
Earnings per share (EPS), diluted
Shareholders’ share of profit for the period after tax, divided by the weighted average number of shares during the period, adjusted for the additional number of shares following exercise of outstanding warrants. Performance measures under IFRS.
Interest coverage ratio
Profit after net financial items plus financial expenses divided by financial expenses.
Working capital¹
Working capital (WC) is measured through an annual average defined as inventories plus accounts receivable less accounts payable.
Operating margin
Operating profit as a percentage of net sales.
Equity ratio²
Equity as a percentage of total assets.
Debt/equity ratio²
Financial net liabilities divided by equity.
Capital employed
Total assets minus non-interest-bearing liabilities and provisions.
Outstanding shares
Total number of shares less treasury shares repurchased by the Company.

¹The performance measure is an alternative performance measure according to ESMA’s guidelines.
²Minority interest is included in equity when the performance measures are calculated.