Definitions

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

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

EBIT:
Operating income.

EBIT margin:
EBIT as a percentage of net sales.

EBITA:
Operating income adjusted for impairment of fixed assets.

EBITA margin:
EBITA as a percentage of net sales.

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. Figures for 2012 are calculated at exchange rates for 2011.

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.