Definitions

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

Gross margin:
Gross profit as a percentage of net sales.

Operating income:
EBIT adjusted for amortization of intangible assets identified in connection with business acquisitions and non-recurring items.

EBIT:
Reported operating income.

EBIT margin:
EBIT as a percentage of net sales.

EBITA:
Operating income before amortization of intangible assets.

EBITDA:
Operating income before depreciation and impairment of fixed assets.

EBITDA margin:
EBITDA as a percentage of net sales.

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

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

Return on shareholders’ equity:
Net income as a percentage of shareholders’ equity.

Number of employees:
The number of employees at end of period.

Currency adjusted:
Figures adjusted for changes in exchange rates related to consolidation. Figures for 2014 are calculated at exchange rates for 2013. Effects of translation of balance sheet items are not included.

Earnings per share:
Net income divided by the average number of shares.

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

HoReCa:
Abbreviation for hotels, restaurants and catering.

Private label:
Products marketed under customer’s own label.

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