Glossary

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.

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 EPS

Adjusted net earnings, Group share / average number of (issued shares – treasury shares).

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

Total equity (excluding fair value reserves) + net financial debt + provisions for employee benefits – deferred tax assets and liabilities.

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.

Effective adjusted tax rate

Adjusted tax charge / adjusted profit (loss) before income tax of fully consolidated companies.

EPS

Earnings per share for equity holders.

EPS, basic

Net earnings, Group share / average number of outstanding shares.

EPS, diluted

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).

Gearing ratio

Net financial debt / (net financial debt + equity of the Group).

Market capitalization

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.

Net debt / LTM adj. EBITDA

Net financial debt divided by adjusted EBITDA of the last 12 months.

Adjusted EBITDA margin

Adjusted EBIT of fully consolidated companies / revenues excluding metals.

Operating cashflow

Cashflow generated from operations before change in working capital requirement plus dividend and grants received.

Outstanding shares

Issued shares– treasury shares.

Return on capital employed (ROCE)

Adjusted EBIT / average capital employed.

Revenues (excluding metal)

All revenue elements - value of purchased metals.

R&D expenditure

Gross research and development charges, including capitalised costs.The reported R&D figures exclude R&D of associates.

The above financial definitions relate to non-IFRS performance indicators except for EPS, basic and EPS, diluted.

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