Calculation formulas of key figures

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Calculation of key figures
Key figure Definition
Operating profit Profit before income taxes, finance income and finance costs.
EBITDA Operating profit before depreciation and amortisation
Items affecting comparability Material items outside the ordinary course of business, which relate to i) costs related to the listing ii) strategic development projects, iii) acquisition and integration related expenses, iv) restructuring expenses and v) net gains or losses on sale of assets and grants received.
Adjusted operating profit Operating profit before items affecting comparability.
Adjusted EBITDA EBITDA before  items affecting comparability.
Adjusted profit before income taxes Profit before income taxes excluding items affecting comparability.
Earnings per share, undiluted  Profit for the period attributable to the owners of the parent divided by weighted average number of shares outstanding.
Earnings per share, diluted Profit for the period attributable to the owners of the parent divided by weighted average number of shares outstanding taken into consideration the effects associated with any parent company’s obligations regarding the possible share issue in the future.
Net debt Shareholder loans and current and non-current loans from credit institutions less cash and cash equivalents.
Leverage Net debt divided by adjusted EBITDA (12 months).
Net working capital Inventories, trade and other receivables less trade and other payables.
Capital employed excluding goodwill Capital employed excluding goodwill is total equity and net debt less goodwill.
Adjusted return on capital employed (ROCE) Adjusted operating profit (12 months) divided by average capital employed excluding goodwill.
Operating free cash flow Adjusted EBITDA added/subtracted by the change in net working capital in consolidated statement of cash flows less investments in tangible and intangible assets.
Cash conversion Operating free cash flow divided by adjusted EBITDA.
Equity ratio Total equity divided by total assets less advances received.
Return on Equity (ROE) Profit for the period divided by average total equity