Accident frequency rate
Number of lost time accidents per million hours worked. Accidents on the road to and from work are excluded.
Accident severity rate
Number of calendar days lost per thousand hours work. Accidents on the road to and from work are excluded.
Average capital employed
For half years: average of capital employed at start and end of the period; For full year: average of the half year averages.
Average net debt
For half years: average of net debt at start and end of the period; For full year: average of the half year averages
Average number of shares outstanding, basic
Average number of outstanding shares.
Average number of shares outstanding, diluted
Average number of outstanding shares + number of potential new shares to be issued under the existing stock option plans x dilution impact of the stock option plans.
Total equity (excluding fair value reserves) + net financial debt + provisions for employee benefits – deferred tax assets and liabilities – IAS 39 impact.
Capitalized investments in tangible and intangible assets, excluding capitalized R&D costs.
Operating profit (loss) of fully consolidated companies, including income from other financial investments + Group share in net profit (loss) of companies accounted for under equity method.
Effective recurring tax rate
Recurring tax charge / recurring profit (loss) before income tax of fully consolidated companies.
Earnings per share for equity holders.
Net earnings, Group share / average number of outstanding shares.
Net earnings, Group share / (average number of outstanding shares + number of potential new shares to be issued under the existing stock option plans x dilution impact of the stock option plans).
Net financial debt / (net financial debt + equity of the Group).
Closing price x total number of outstanding shares.
Net cashflow before financing
Net operating cashflow – net cashflow generated by (used in) investing activities.
Net financial debt
Non-current financial debt + current financial debt - cash and cash equivalents.
Includes non-recurring items related to restructuring measures, impairment of assets, and other income or expenses arising from events or transactions that are clearly distinct from the ordinary activities of the company. Any writedowns on those metal inventories permanently tied up in operations are part of the non-recurring EBIT of the business groups.
Cashflow generated from operations before change in working capital requirement plus dividend and grants received
Issued shares– treasury shares.
EBIT - non-recurring EBIT - IAS 39 effect.
Recurring EBIT margin
Recurring EBIT of fully consolidated companies / revenues excluding metals.
Recurring EBIT + recurring depreciation and amortization of fully consolidated companies.
Recurring net earnings, Group share / average number of (issued shares – treasury shares).
Return on capital employed (ROCE)
Recurring EBIT / average capital employed.
Revenues (excluding metal)
All revenue elements - value of purchased metals.
Gross research and development charges, including capitalised costs. From 2013 Umicore has decided to deduct any research grants that are received from third parties from its reported R&D figures. Umicore has also made some further R&D cost reclassifications by applying the internationally recognized Frascati Manual definitions. The reported R&D figures now also exclude R&D of associates.
The above financial definitions relate to non-IFRS performance indicators except for EPS, basic and EPS, diluted.