Adjusted EBIT
EBIT - EBIT adjustments .
Adjusted EBIT margin
Adjusted EBIT of fully consolidated companies / revenues excluding metals.
Adjusted EBITDA
Adjusted EBIT + adjusted depreciation and amortization of fully consolidated companies.
Adjusted EBITDA margin
Adjusted EBITDA of fully consolidated companies / revenues excluding metals.
Adjusted EPS (Earnings per share)
Adjusted net earnings, Group share / average number of (issued shares – treasury shares).
Adjusted EPS, basic
Adjusted net earnings, Group share / average number of outstanding shares.
Adjusted EPS, diluted
Adjusted 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).
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 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.
Capital employed
Fixed Assets + Working Capital (Inventories + adjusted Trade & Other Receivables – adjusted Trade & Other Payables) – Translation Reserves – Current & Non-Current provisions other than provisions for Employee Benefits.
Capital expenditure
Capitalized investments in tangible and intangible assets, excluding capitalized R&D costs.
EBIT
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.
EBIT adjustments
Includes adjusted 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. This includes a.o. adjustments related to the sale of business activities or environmental provisions related to historic pollution and environmental remediation of closed sites.
Effective adjusted tax rate
Adjusted tax charge / adjusted profit (loss) before income tax of fully consolidated companies.
Gearing ratio
Net financial debt / (net financial debt + equity of the Group).
Market capitalization
Closing price x total number of outstanding shares.
Net capital expenditures
Capex – government grants and subsidies + equity contribution (e.g. Ionway).
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 as defined by our IFRS figures excluding any revaluation impact of financial debt denominated in a currency which is not the functional currency of the entity and for which the Group is hedged.
Net debt / LTM adj. EBITDA
Net financial debt divided by adjusted EBITDA of the last 12 months.
Outstanding shares
Issued shares– treasury shares.
Return on capital employed (ROCE)
Adjusted EBIT / average capital employed.
Revenues (excluding metal)
All revenue elements - value of the following purchased metals : Au, Ag, Pt, Pd, Rh, Co, Ni, Pb, Cu, Ge, Li and Mn
In order to neutralize distortions from fluctuating metal prices and precious metal prices in particular, Umicore uses revenues excluding the value of purchased metals rather than turnover (which include the value of the purchased metals) to track its performance. This is an industry practice followed by direct peers with similar activities.
R&D expenditure
Gross research and development charges, including capitalised costs.The reported R&D figures exclude R&D of associates.
Total recordable injury rate (TRIR)
Staff total recordable injury rate (Staff TRIR)
Total number of fatal accidents, lost time accidents and recordable injuries without lost time, per million hours worked, for Umicore employees.
Staff and contractor total recordable injury rate (Staff & Contractor TRIR)
Total number of fatal accidents, lost time accidents and recordable injuries without lost time, per million hours worked, for both Umicore employees and contractors.
The above definitions cover Umicore’s Alternative Performance Measures (“APMs”).