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Financials

Calculation of key figures

Alternative performance  measures (APMs) used in Cargotec's financial reporting

New ESMA (European Securities and Markets Authority) guidelines on Alternative Performance Measures (Alternative performance measure (APM) = financial measure other than financial measure defined or specified in IFRS) are effective as of 3 July 2016. The new guidelines have had no impact on performance measures used by Cargotec, but in accordance with the guidelines, Cargotec publishes the explanation of use, definitions as well as reconciliations of its APMs to IFRS financial statements.

APMs are used at Cargotec to better convey the underlying business performance and to enhance comparability from period to period. APMs are not substituting the performance measures stipulated by IFRS, but are instead reported as complementary information.

The alternative performance measures used by Cargotec are:

 

  • Operating profit excluding restructuring costs= Operating profit + restructuring costs
  • ​Operating profit excluding restructuring costs, % of sales = (Operating profit + restructuring costs) / Sales * 100
  • ​Interest-bearing net-debt = Interest-bearing debt – interest-bearing assets +/- Foreign currency hedge of corporate bonds

 

Restructuring costs include restructuring provisions, asset impairments and disposals, expenses for vacant premises and other restructuring-related expenses in case of a significant restructuring programme of Cargotec or its business area. In the interim report, the reconciliation of operating profit excluding restructuring costs to operating profit of the statement of income is presented in note 3. Reconciliation of interest-bearing net debt to interest-bearing liabilities and assets is presented in note 6.


Calculation of key figures


Return on equity (%) = 100 x Net income for period / Total equity (average for period)


Return on capital employed (%) = 100 x (Income before taxes + interest and other financing expenses) / (Total assets - non-interest-bearing debt) (average for period)


Total equity / total assets (%) = 100 x Total equity / (Total assets - advances received)


Gearing (%) = 100 x (Interest-bearing debt*- interest-bearing assets) / Total equity


Basic earnings / share = Net income attributable to the equity holders of the company / Average number of outstanding shares during period


Diluted earnings / share  = Net income attributable to the equity holders of the company / Average number of diluted outstanding shares during period


Equity / share = Total equity attributable to the equity holders of the company / Number of outstanding shares at the end of period


Dividend / share = Dividend for financial period / Number of outstanding shares at the end of period


Dividend / earnings (%) = 100 x (Dividend for financial period / share) / (Basic earnings / share)


Effective dividend yield (%) = 100 x (Dividend / share) / Closing price for the class B share at the end of period


Price / earnings (P/E) = Closing price for the class B share at the end of period / (Basic earnings / share)


Average share price = EUR amount traded during period for the class B share / Number of class B shares traded during period


Market capitalisation at the end of period = Number of class B shares outstanding at the end of period x closing price for the class B share at the end of period + Number of class A shares outstanding at the end of period x closing day average price for the class B share


Trading volume = Number of class B shares traded during period


Trading volume (%) = 100 x Number of class B shares traded during period / Average weighted number of class B shares during period

 

 


 
* including cross currency hedging of the USD 300 million Private Placement corporate bond