Two Female Co-Workers with Tablet and Financial Documents - Investors - AAK

Get to know the measures that we use

Working capital, Direct yield, and more

Alternative Performance Measures

As our investor you deserve clear information about our financials. We wish to maintain good relations with important stakeholders and help you to increase knowledge about AAK.

AAK presents Alternative Performance Measures that are not defined in the financial reporting framework IFRS. Alternative Performance Measures are used as guidance to the Group’s management and external stakeholders in their analysis of the Group’s operations and are considered as a supplement to the financial statements prepared in accordance with IFRS. AAK uses the following Alternative Performance Measures: Organic volume growth, EBITDA, Return on Capital Employed (ROCE), Net working capital, Net debt, Net debt/EBITDA and Equity/asset ratio. 

Please see definitions of the Alternative Performance Measures and other performance measures below.

Cash and cash equivalents
Cash and bank balances and short-term investments with a maturity of less than three months. 

Capital employed
Total assets less cash and cash equivalents, other interest-bearing receivables, non-interest-bearing operating liabilities, but excl. deferred tax. 

Direct yield
Dividend per share in relation to the share price at the reporting date. Expressed in percent. 

Dividend pay-out ratio
Dividend in relation to the net profit for the year. Expressed in percent.

Earnings per share
Net profit for the year attributable to the parent company shareholders divided by the average number of shares on the reporting date.

Earnings before interest, tax, depreciation and amortization. 

Equity/assets ratio
Equity incl. non-controlling interests in relation to total assets. Expressed in percent. 

Equity per share
Equity excl. non-controlling interests divided by the average number of shares on the reporting date.

Net debt
Interest-bearing liabilities (incl. pension liabilities, excl. financial leases) less Cash and cash equivalents and other current interest-bearing receivables.

Net debt/EBITDA
Net debt in relation to EBITDA calculated on a rolling 12 months basis. Expressed as a multiple of EBITDA.

Net working capital 
Non-interest-bearing current assets less non-interest-bearing current liabilities.

Organic volume growth
Total volume growth, excl. effects of acquisitions/disposals. Expressed in percent.

Return on Capital employed (ROCE)
Operating profit in relation to average capital employed, calculated on a rolling 12 months basis. Expressed in percent. 

Share price/equity
Share price in relation to equity per share. 


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