Financial Glossary
Financial Glossary
BE GAAP | Belgian Generally Accepted Accounting Principles
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Capital employed (CE) | The carrying amount of PP&E, intangible assets and goodwill plus working capital |
Capital expenditure (PP&E) (capex) | Funds used to acquire or upgrade physical assets such as property, plants and equipment (business combinations and asset deals excluded). |
Cash flow (net) | Sum of the profit or loss for the period and all non cash flow items included in the income statement (provisions, amortisation, depreciation, impairment losses….) |
Cost of sales (COS) | Variable plus fixed production costs |
Dividend per share (gross) | Total amount paid as dividend divided by the number of shares issued at closing date |
Earnings per share (EPS) | Profit or loss for the period divided by the number of shares issued at closing date |
EBIT | Earnings before interest and taxes (Profit or loss from operations) |
Enterprise value (EV) | Sum of the net financial liabilities and the market capitalisation |
Equity attributable to equity holders of the group | Sum of the issued capital, share premium, reserves and retained earnings |
Equity method | A method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post-acquisition change in the investor’s share of net assets of the investee. The profit or loss of the investor includes the investor’s share of the profit or loss of the investee. |
Total equity | Sum of the equity attributable to equity holders of the group and the minority interests |
Financial liabilities (net) | Long and short term financial liabilities minus cash and cash equivalents |
Gearing | Net financial liabilities divided by total equity |
IFRS | International Financial Reporting Standards (applied to the consolidated accounts of Tessenderlo Group as of 2005 – reference 2004) |
Market capitalisation | Number of shares issued multiplied by the market price per share |
Pay out ratio | Gross dividend divided by profit |
Gross profit | Revenue minus cost of sales |
REBIT | Recurrent earnings before interests and taxes. REBIT excludes the non-recurrent items related to restructuring, impairments of assets and other income or expenses from events or transactions, which cannot be linked to the ordinary operations of the period. Recurrent profit or loss from operations |
Return on capital employed (ROCE) | EBIT divided by capital employed |
Revenue (Sales) | Income for delivering products or services to customers |
Shares (number of) | Number of ordinary shares (end year) |
Diluted number of ordinary shares | Number of ordinary shares plus possible future shares through exercise of stock options ( end year) |
Velocity | The number of shares traded over 12 months compared with the total number of shares |
VVPR | In Belgium, the VVPR strip presented together with the coupon of the ordinary share (with the same number) offers the shareholder the right to a reduction of the withholding tax from 25 % to 15%. |
Working capital | Sum of inventories and trade and other receivables minus trade and other payables |
