Calculations of key financial indicators
| Calculation of key financial indicators | ||||
| Operating profit | = | Operating profit includes the revenue from the sale of goods and services, other income such as gain from sale of shares or non-financial assets, share of profit (loss) of associates and joint ventures, less losses from sale of shares or non-financial assets, as well as expenses related to production, marketing and selling activities, administration, depreciation, amortization, and impairment charges. Realized and unrealized gains or losses on oil and freight derivative contracts together with realized gains and losses from foreign currency and oil derivative contracts hedging cash flows of commercial sales and purchases that have been recycled in the income statement, are also included in operating profit. |
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| Comparable operating profit | = | Operating profit -/+ inventory gains/losses -/+ gains/losses from sale of shares and non-financial assets - unrealized change in fair value of oil and freight derivative contracts. Inventory gains/losses include the change in fair value of all trading inventories. |
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| Return on equity, (ROE) % | = | 100 | x | Profit before taxes - taxes |
| Total equity average | ||||
| Return on capital employed, pre-tax (ROCE) % |
= | 100 | x | Profit before taxes + interest and other financial expenses |
| Capital employed average | ||||
| Return on average capital employed, after-tax (ROACE) % |
= | 100 | x | Profit for the period (adjusted for inventory gains/losses, gains/losses from sale of shares and non-financial assets and unrealized gains/losses on oil and freight derivative contracts, net of tax) + non-controlling interests + interest expenses and other financial expenses related to interest-bearing liabilities (net of tax) |
| Capital employed average | ||||
| Capital employed | = | Total assets - interest-free liabilities - deferred tax liabilities - provisions |
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| Interest-bearing net debt | = | Interest-bearing liabilities - cash and cash equivalents |
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| Leverage ratio, % | = | 100 | x | Interest-bearing net debt |
| Interest-bearing net debt + total equity | ||||
| Gearing, % | = | 100 | x | Interest-bearing net debt |
| Total equity | ||||
| Equity-to-assets ratio, % | = | 100 | x | Total equity |
| Total assets - advances received | ||||
| Return on net assets, % | = | 100 | x | Segment operating profit |
| Average segment net assets | ||||
| Comparable return on net assets, % | = | 100 | x | Segment comparable operating profit |
| Average segment net assets | ||||
| Segment net assets | = | Property, plant and equipment, intangible assets, investment in associates and joint ventures including shareholder loans, pension assets, inventories and interest-free receivables and liabilities allocated to the business segment, provisions and pension liabilities. |
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| Research and development expenditure |
= | Research and development expenditure comprise of the expenses of the Research & Technology unit serving all business areas of the Group, as well as research and technology expenses incurred in business areas, which are included in the consolidated income statement. Depreciation and amortization are included in the figure. The expenses are presented as gross, before deducting grants received. |
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| Calculation of share-related indicators | ||||
| Earnings per share (EPS) | = | Profit for the period attributable to the equity holders of the company |
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| Adjusted average number of shares during the period | ||||
| Equity per share | = | Shareholder's equity attributable to the equity holders of the company |
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| Adjusted average number of shares at the end of the period |
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| Cash flow per share | = | Net cash generated from operating activities | ||
| Adjusted average number of shares during the period | ||||
| Price / earnings ratio (P/E) | = | Share price at the end of the period | ||
| Earnings per share | ||||
| Dividend payout ratio, % | = | 100 | x | Dividend per share |
| Earnings per share | ||||
| Dividend yield, % | = | 100 | x | Dividend per share |
| Share price at the end of the period | ||||
| Average share price | = | Amount traded in euros during the period | ||
| Number of shares traded during the period | ||||
| Market capitalization at the end of the period |
= | Number of shares at the end of the period x share price at the end of the period |
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| Trading volume | = | Number of shares traded during the period, and number of shares traded during the period in relation to the weighted average number of shares during the period |
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